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<br />review and approval, submit the annual budget to the City and County. The budget shall be <br />substantially balanced. The Budget shall follow the format as established by the JDA after <br />consultation with the City Finance Director and the County Director of Finance, and at a <br />minimum provide at least the detail required by § 2.3.4 of the Joint Agreement. <br /> <br /> 4.6.1. The City and County may determine that a service or services as described <br />in the Budget are available from either the City or County and direct the JDA to purchase such <br />service at that Party’s cost, with payment to be made by the JDA from its authorized funds as <br />stated in the Budget. <br /> <br /> 4.6.2. The annual budget proposed by the JDA shall be reviewed and transmitted <br />to the City and County. Each shall review, provide comments to the JDA and the other and <br />approve the annual budget. The proposed JDA annual budget approved by the City and County <br />pursuant to this process shall be reported back to the JDA by November 15 (preceding the <br />ensuing calendar/fiscal year). Thereafter the JDA shall adopt and implement the budget <br />approved by the City and County (the “Budget”). The Budget may be amended consistent with <br />the process described in this Section. <br /> <br /> 4.6.2. The JDA may incur expenses and make expenditures that may be <br />necessary to the effectuation of its purposes and powers, in conformance with the statutory <br />requirements applicable to contracting and purchasing practices of the City and County, <br />including Minnesota Statutes §§ 383A and 471.345, and the Budget. <br /> <br /> 4.6.3. The Administrative Director shall have the authority to approve expenditures <br />consistent with the approved Budget. Section 4.7. Signature Authority. The following signature <br />authority shall be authorized for transactions executed under direction of the Board: <br /> <br /> (a) All orders and requests for checks of the Authority for the payment of money as <br />directed by the Board shall be signed by the Chair and the Administrative Director. <br /> <br /> (b) All contracts, deeds and other instruments made or authorized by the Board, except <br />as otherwise authorized by resolution of the Board, shall be signed by the Chair and the <br />Administrative Director. <br /> <br /> (c) The Vice Chair shall have the capacity to sign as an alternate officer of the Authority <br />under extenuating circumstances involving the absence of the Chair or of the Administrative <br />Director, but not where both are absent at the same time. “Absence” means the lengthy <br />unavailability of Chair or of the Administrative Director resulting from vacancy, termination, <br />resignation, incapacitation or death, leading to the potential for business issues of the Authority to <br />be delayed and/or deadlines to be missed. <br /> <br /> Section 4.7 Employees, Services, Supplies, and Contracts. The Authority shall have <br />all of the power and do all of the things permitted by Minnesota Statutes, Section 469.097, as <br />amended, including but not limited to: employing technical experts and other employees as it <br />may require; contracting for the services of consultants, agents, public accountants, legal <br />services, and such other persons or services as it may need to perform its duties and exercise its <br /> Page 5 of 10 <br />421119v56 MTN TW185-1