8C, City - County Joint Powers Agreement for TCAAP

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f. Capital Outlay (incl. Office and Building rent if applicable, equipment such as phones and computers) g. Payment of invoices for City and County Investment pursuant to the Cost Recovery Formula as provided in Section 3.7. h. Miscellaneous expenditures 2.3.4.2. The Parties may determine that a service or services as described above are available from a Party and direct the JDA to purchase such service from that Party at that Party's cost, with payment to be made by the JDA from its authorized funds. 2.3.4.3. The proposed annual JDA budget shall be reviewed and approved by the Parties whose final decisions (approvals) shall be reported back to the JDA by November 15 (preceding the ensuing calendar/fiscal year). Thereafter the JDA shall adopt the budget approved by the Parties. 2.3.4.4. The JDA may incur expenses and make expenditures that may be necessary to the effectuation of its purposes and powers, in conformance with the statutory requirements applicable to contracting and purchasing practices of the Parties, the approved annual budget and this Joint Agreement. 2.3.5. Taxes. The JDA itself shall not levy taxes, issue bonds or independently borrow money, and it shall not approve any claims or incur any obligations for expenditures unless there is unencumbered cash in the appropriate JDA accounts described herein, to the credit of the JDA with which to pay the same, or as otherwise approved by the Parties. Any surplus in revenues over the cost of operating expenses of the JDA and associated activities described under this Joint Agreement, may be transferred by the JDA to the Parties as provided hereafter in Section 3.8. However, surplus revenues may remain in the control of the JDA, deposited in JDA accounts and reported annually in the subsequent year's budget submission. 2.3.6. Interfund Loans. Notwithstanding the prohibition against independent borrowing, the JDA may borrow money from the Parties in the form of interfund loans to the extent that such loans are not made from dedicated funds or from funds or monies otherwise encumbered, subject to the mutual consent and approval of the Parties, and subject to the terms and conditions of repayment agreed to by the Parties. 2.3.7. Personnel. Unless otherwise approved by the Parties, the staff of the JDA shall be the City Administrator and the County Manager, or their designees. Each Party may also designate additional staffing as it deems appropriate or as requested by the JDA. The JDA may hire consultants including independent engineering, planning and development consultants to assist in the development of the TCAAP Master Plan and amendments and revisions thereto, preparation of financing plans, marketing plans, developer proposals, the marketing and sale of Development Sites pursuant to the RFP process described in Section 3.2.4, and other matters which address growth and development on the TCAAP Site. 2.3.8. Reports. The JDA shall prepare an annual report at the end of each calendar/fiscal year and submit such report to the Parties not later than February 15 of the 9