4.8. SR 12-11-2000 - Laserfiche WebLink

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. . . ARTICLE VIll. POWERS AND DUTIES Section 1. The board may take such actions, as it deems necessary and convenient to accomplish the general purposes of this agreement. A member community shall retain the right to specifically approve proposed improvements in its community. Section 2. The board may: (a) Enter into contracts to carry out its powers and duties; (b) Purchase and hold personal property and accounts: (c) Contract for space, commodities or personal services with a member or group of members; (d) Accept gifts, apply for and use grants or loans of money or other property from the state, the United States of America, and from other governmental and non- governmental units and may enter into agreements in connection therewith and hold, use and dispose of such money or property in accordance with the terms of the gift, grant, loan or agreement relating thereto. (e) Collect and analyze data, develop strategic recommendations and implement marketing programs for the purpose of economic development and retention of existing businesses within the jurisdiction of areas of operation of the parties. (t) Purchase liability insurance to insure against liability of the organization and its constituent members. ARTICLE IX. FINANCIAL MATTERS Section 1. The fiscal year of the North Metro Highway 10 Corridor Coalition is the calendar year. Section 2. The Board shall adopt an initial budget for 2000 and thereafter adopt an annual budget for each succeeding year prior to July 1 of the preceding year. The board will give an opportunity to each member to comment or object to the proposed budget before adoption. Notice of the adopted budget must be mailed promptly thereafter to the chief administrative officer of each Coalition member. The budget for any year is deemed approved by each member unless, prior to October 10th of the preceding year, a member gives written notice to the Secretary-Treasurer that the member is withdrawing at the end of the year as provided in the Agreement. Section 3. Operational costs shall be shared according to the following formula: Each membergs share of the annual budget will be based 50% on the members population compared to the aggregate population of all members and 50 % on the members tax capacity compared to the aggregate tax capacity of all members. County membership cost participation shall annually be determined by the full Board. - 5 -