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2006-07-12 CC Packet
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2006-07-12 CC Packet
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<br />ARTICLE 8. FUNDING <br /> <br />A. Financial Members' Contributions. The TASK FORCE will collect, if determined by the <br />TASK FORCE to be needed, the funding for items listed below. This funding shall be based <br />on corridor county population for the most recent census year or most recent state <br />demographer data available. For capital projects located in one county, that county or regional <br />railroad authority would be expected to fund the non-federal portion of the project costs if <br />federal funds are received for that project. <br /> <br />(a) Administrative costs shall include but not limited to salaries and fringe <br />benefits, rent, utilities, transportation, travel, telephone, office supplies, <br />insurance, accounting and legal fees not relating to a specific corridor, and <br />membership fees and dues incurred by the Board. <br /> <br />B. Annual Bud2et. For the calendar year next following the calendar year in which the <br />EFFECTIVE DATE occurs and all subsequent years, the TASK FORCE shall establish and <br />approve a budget. <br /> <br />C. Financial Members' Bud2et Approval. Adoption of the budget shall require unanimous <br />approval of the Financial Members. <br /> <br />D. Contribution Date. Except for any initial contribution required by this AGREEMENT, <br />assessments made under the provisions of this article shall be paid by each Financial Member <br />by January 3 of each year. The initial contribution shall be made within sixty (60) days of the <br />adoption of the budget pursuant to Article 8(A) thereof. <br /> <br />E. Bud2etin2. Accountin2. Fiscal A2ent. and Other Services. The TASK FORCE may <br />contract with any party to provide contract management, legal review, and budgeting and <br />acc6unting services necessary or convenient for the TASK FORCE and otherwise act as the <br />TASK FORCE's fiscal agent. Such services shall include, but not be limited to, management <br />of all funds, including contributions and grant monies, payment for contracted services, and <br />relevant bookkeeping and record keeping. The contracting and purchasing requirements of <br />the member so selected shall apply to transactions of the TASK FORCE. Such member shall <br />identify the staff person to work as liaison with the TASK FORCE. <br /> <br />F. Accountabilitv for Funds. All funds shall be accounted for according to generally acceptable <br />accounting principles. A report on all receipts and disbursements shall be forwarded to the <br />TASK FORCE on an annual basis. The parties have the authority to request reports pertaining <br />to any and all budgeting and accounting services. All interest earned from established TASK <br />FORCE funds shall be credited back to that same fund. <br /> <br />ARTICLE 9. WITHDRAWAL AND TERMINATION <br /> <br />A. Withdrawal. Any party may withdraw from this AGREEMENT upon 90-days prior written <br />notice evidenced by resolution of the party's governing body to the TASK FORCE. In the <br /> <br />Page 8 of 11 <br /> <br />11 <br />
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