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Subdivision 5. Governmental Unit Financing. Members may establish a watershed management -tax district n the Area for the purpose of paying costs of the engineering and planningrequned to develop a watershed:xnanagement plan for the Area. After the plan. is adopted -and approved, a tax district maybe established for the purpose of paying capital costs ofprojects described in the plan (including normal and routine maintenance of projects). If required; the tax. district shall be est.ablis4d by ordinance adopted Oft a hearing by a local.government uWt,- folld*1ng.provisions of *innesota Statutes,, Chapter 103B. Subdivision d. Reserve JFunds. The Board may accumulate reserve funds for the purposes herein mentioned and may inve t funds of the, Board not:currently needed for its operations in the manner and subject to the laws oMinnesota applicable to statutory cities. Any and all reserve funds. must -be dearly indicated on tl�e annual financial audit provided to the Members. Subdivision 7. Gifts; G accept gifts, apply for. an the State of Minnesota, e person or entity for the p required in coimection tk may hold, use and dispo; grant, loan or agreement Subd"ion..& Disbui SecretaryTreasuier of t Checks issued by VLA Administrator may be z VLAWMO in the amoi premium. on said bond. Subdivision 1. ; Agreement.unW Members. This resolution approving sai Subdivision 2. 1.; 2025, by the .-ants; Loans. VLAWMO may, within the scope of this.Agreemcnt, I use grants or loans of. money or other property:from the -United States, unit of government or other governmental unit,or organization or any uposes described herein; may enter into any reasonable agreement :rewith; shall comply with anylaws or regulations applicable thereto, and of such money or property in accordance with the terms of the gift, -elated thereto. ,meats: All VLAWMO d1sbursements.shall be sent to the Board. and the finance officer:of-thc.Technical Commission for review. MO shall.have two signatures. Officers and%the VLAWMO horized to sign checks.. An Officembond shall be maintained by i of at least $10,000. VLAWMO will lie responsible for paying the SECTION IX OF THIS JOINT POWERS AGREEMENT of Agreement. Each Member agrees to be..bound by the terms of this x -3.1., 2026, and that itmay be continued thereafter at the option of the it shall be .an full force.and effect upon the filing of eenified copy -of ft Agreement by- each -govm=enW unit, on of Agreement. This agreement -may be terminated prior to January.. consent of the parties. If the agreeient- is to be terminated, a notice of 476M".KRHVA24$-1 12.