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7 Section 6.9. Delegation to Executive Committee. The Board may delegate authority to the executive committee of the Board, between Board meetings. Such delegation of authority shall be by resolution of the Board and may be conditioned in such manner as the Board may determine. Section 6.10. Accumulation and Maintenance of Capital. The Board may accumulate and maintain reasonable working capital reserves and may invest and reinvest funds not currently needed for the purposes of the organization. Such investment and reinvestment shall be in accordance with and subject to the laws applicable to the investment of city funds. Section 6.11. Data, Data Processing and Management Information Systems. The Board shall make Metro-INET data processing and management information systems available to its Members, subject to reasonable charges for the development and processing thereof. Metro- INET shall not own Member Data, which shall be returned to the Member upon its withdrawal made pursuant to this JPA or upon dissolution. Section 6.12. PERA. The Board may provide for any of its employees to be members of the Public Employees Retirement Association and may make any required employer contributions to that organization and any other employer contributions which municipalities are authorized or required by law to make. Section 6.13. Necessary and Incidental Powers. The Board may exercise any other power necessary and incidental to the implementation of its aforementioned powers and duties. ARTICLE VII FISCAL AND OPERATIONAL SERVICES; EXECUTIVE DIRECTOR Section 7.1. Fiscal and Operations Agent. The Board shall designate a Member to serve as the fiscal and operations agent of Metro-INET (“Fiscal Agent”). The Fiscal Agent shall provide services as set forth in the JPA and on additional matters as may be determined by the Board through authorization for services by contract with Metro-INET. The Fiscal Agent shall be responsible for management of all of Metro-INET’s funds, for the keeping and storing of Metro- INET’s financial records, recommending to the Board and maintaining adequate insurance coverage of Metro-INET consistent with municipal liability limitations under Minnesota law, and to provide for the annual financial audit and accounting of all Metro-INET related activities. The Fiscal Agent shall be responsible for collecting and preserving all Metro-INET records and data pursuant to the requirements of the Minnesota Government Data Practices Act, Minnesota Statutes, Chapter 13. The Fiscal Agent shall post a fidelity bond or other insurance against loss of organization funds in an amount approved by the Board, at the expense of Metro-INET. Section 7.2. Executive Director. The Board shall hire an executive director to be responsible for the management of the day-to-day operations of Metro-INET, executing the policy directives of the Board, including, the power to implement contracts authorized by the Board, the prosecution and defense or other participation in actions or proceedings in law; to employ personnel or retain as consultants such persons as he or she may deem necessary to carry out Metro-INET functions; to conduct such research and investigation as necessary on any matter related to or affecting the general purposes of Metro-INET; to manage real and personal property