2020-04-22 CC Packet - Laserfiche WebLink

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Section 5. The Secretary shall be responsible for keeping a record of all of the proceedings of the Commission and executive committee. Section 6. The Treasurer shall be responsible for custody of all funds, for the keeping of all financial records of the Commission and for such other matters as shall be delegated by the Commission. The Commission may require that the Treasurer post a fidelity bond or other insurance against loss of Commission funds in an amount approved by the Commission, at the expense of the Commission. Said fidelity bond or other insurance may cover all persons authorized to handle funds of the Commission. Section 7. The Commission may appoint such other officers as it deems necessary. All such officers shall be appointed from the membership of the Commission. X. FINANCIAL MATTERS Section 1. The fiscal year of the Commission shall be the calendar year. Section 2. Commission funds may be expended by the Commission in accordance with the procedures established by law for the expenditure of funds by Minnesota Statutory Cities. Orders, checks and drafts must be signed by any two of the officers. Other legal instruments shall be executed with authority of the Commission, by the Chair and treasurer. Contracts shall be let and purchases made in accordance with the procedures established by law for Minnesota Statutory Cities. Section 3. The financial contributions of the Members in support of the Commission shall be of two types: (1) each Member shall be responsible for its share of the debt service and/or PEG fees), which share shall be in the same pr for the immediately preceding calendar year were to the total franchise fees receivable by shall be responsible for its share of the operating and capital costs of the Commission (not including any part of the debt service on the Comm shall be in direct proportion to the percent of annual subscriber revenues of each Member to the total annual revenues of the system multiplied by the Commission's annual budget t shall establish the contribution of each Member for its Operating Cost Share for the ensuing year. Each Member shall cause its franchise fees to be paid directly to the Commission, and the Commission shall deduct chise fees, before application to any other is not sufficient to pay its quarterly Debt Service Share, the deficiency will continue to be an obligation of the Member and will be deficiency has been restored. After provision is made for payment of the Debt Service Share, the remaining franchise fees shall be Operating Cost Share owed the Commission, with any excess being remitted to the Member by the Commission and any shortfall being payable to the Commission by the Member. The remainder of any franchise fee remitted back to the Member by the