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WO <br />Subdivision 18: The Commission may designate one or more national or state bank or trust <br />companies authorized by Chapters 118A or 427 of Minnesota Statutes to receive deposits of public <br />ni,ene� smonies to act as depositories for the Organization's funds. No funds may be disbursed <br />without the signature of two officers. The Treasurer shall be required to file with the Secretary of <br />the Commission a bond in the sum of at least $10,000 or such higher amount as shall be <br />determined by the Commission. The Commission shall pay the premium on said bond. <br />Subdivision 19: The Commission may acquire real or personal property, conduct programs and <br />projects, and exercise all other powers necessary and incidental to the implementation of the <br />purposes and powers set forth herein and to carry out the obligation of a watershed management <br />organization under the Act. <br />Subdivision 20: The Commission shall have the authority to adopt a budget, to decide on the total <br />amount necessary to be raised from ad valorem taxes to meet the budget and to certify its budget to <br />the county auditor of each county having territory within the watershed. Taxes may be levied for <br />any purpose authorized by the Act in accordance with procedures specified in the Act, and subject <br />only to the limitations set forth in the Act and this Agreement. The Commission shall also have <br />the authority to certify for payment by the counties all or any part of the cost of a capital <br />improvement contained in the capital improvement program of the Plan, in accordance with <br />Minnesota Statutes, Section 103B.251. <br />11 <br />24757500 CLI. MD160-1 <br />