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of the joint police department as hereinafter provided. <br /> (8) To sell or lease any of its equipment as may be deemed expedient. <br /> (9) To establish a yearly budget for police services pertaining to the District, <br /> which budget shall require approval by the City Councils of each of the member <br /> municipalities, per Section VIII of this Agreement. <br /> (10) To act as agent for receipt, custody and disbursement of funds gifts or other <br /> funds paid or given by the contracting municipalities on behalf of or for the use of <br /> the District. <br /> (11) To act as paying agent for any contracts of indebtedness and loans made in <br /> the names of the contracting municipalities for the benefit of the District., <br /> (12) To cause an annual audit to be made of all its accounts, books, vouchers and funds. <br /> (13) It shall be the duty of the Commission to appoint a chief with the duties of a <br /> customary chief of police. The appointment of the Chief of Police shall be subject <br /> to approval of the City Councils of both cities. <br /> (14) In exercising its powers under this section, the Commission shall be <br /> governed by the rules and regulations known as "Rules and Regulations - Joint <br /> Municipal Police Department," which rules and regulations shall be approved by <br /> each City Council and a copy of which, as approved, shall be attached to this <br /> Agreement. Amendments to the rules may be enacted by both City Councils <br /> acting separately and shall become a part of the rules upon receipt by the <br /> chairman of the Commission of certification of enactment from both City <br /> Councils. <br /> (15) Revenues from fines for criminal violations shall belong to the city <br /> prosecuting the violation. <br /> (16) The Commission shall make a financial accounting and report to the cities <br /> on or before opened to examination by the municipalities at all reasonable times. <br /> 4.2 <br /> Disbursements and Bonds. Except as designated in Section 2.3, all disbursements of the <br /> District shall be approved by the Commission at a regular or special meeting and be <br /> cosigned by two of the officers designated by the Commission. <br /> Officers authorized to make disbursement shall be bonded in an amount to be determined <br /> and approved by the Commission before entering into the performance of their duties. <br /> 6 <br />