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_ ( I ) Annual Budoet , Assessments . The Board of Directors <br /> shall prepare an annual operating budget for each Fiscal year . <br /> The operating budget shall include estimated expenditures for the <br /> Fiscal Year less anticipated revenue to be derived from the <br /> Municipal power Agency ' s properties, operations and contracts <br /> during such Fiscal Year not otherwise appropriated to debt of the <br /> Municipal Power Agency. The estimated expenditures shall include <br /> the expenses to be incurred in the operation and administration of <br /> the Municipal Power Agency , including the salaries of employees <br /> and the payment of compensation for architectural , engineering , <br /> legal , fiscal and similar services ( unless such compensation comes <br /> within the confines of clause (iv ) below) ) , and amounts for <br /> contingencies and reserves 'but shall not include (i ) the principal <br /> of , redemption premium or interest on bonds or notes of the <br /> Municipal Power Agency or any of its Members under any contract <br /> for the generation , transmission, distribution , purchase , sale or <br /> other disposition of energy , ( iii ) the operation and maintenance <br /> costs relating to any real or personal property owned or leased by <br /> the Municipal Power Agency or in which it may have an interest for <br /> the generation, transmission , distribution , purchase , sale or <br /> other disposition of energy, or ( iv) any other costs , expenses or <br /> debts of the Municipal Power Agency which are generally paid from <br /> anticipated revenue of the Municipal Power Agency , whether or not <br /> so paid . The annual operating budget may but need nor include any <br /> moneys due and owed by the Municipal Power Agency to any third <br /> party . Estimated revenue shall include any and all moneys to be <br /> derived by the Municipal Power Agency from any source which is in <br /> excess of that required to pay those items set forth in clauses <br /> and ( iv) above. <br /> The Board of Directors shall submit the proposed annual <br /> operating budget and proposed schedule of rates , together with a <br /> proposed schedule of assessment payment dates , to the <br /> Representatives at the annual meeting or at a special meeting <br /> called for that purpose . The annual operating budget may be <br /> adopted by a majority of the votes cast by the Representatives , <br /> Each casting one vote , and a majority of the votes cast by the <br /> Representatives in accordance with the weighted voting formula set <br /> forth in Section 9 ( C) hereof , at such meeting, including any <br /> adjourned 5es4ion thereof . Upon approval of the annual operating <br /> budgcr , the net amoun4 of es-Limated expenditures therein in excess <br /> of the estimated revenues therein shall be deemed assessed agains= <br /> ,he members . The amount assessed agains t each Nerrber shall be in <br /> the same proportion as the 'Member ' s weighted vote bears to the <br /> aggregate amount of weighted votes capable of being cas�L- by all <br /> Members . Upon the approval of the annual Operating budget by the <br /> Representatives, the amount assessed against each Member shall <br /> become an obligation of the Member, enforceable , except as <br /> Otherwise provided in this Section 9 , as a contract right of the <br /> Municipal Power Agency . Such assessments shall be paid in <br /> accordance with the schedule prepared by the Board of Directors <br /> and submitted to the Representatives for their approval with the <br /> 12 - <br />