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2016 JPA with
<br />Prior Amendments
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<br />any reasonable agreement required in connection therewith, shall comply with any laws or
<br />regulations applicable thereto, and may hold, use and dispose of such money or property in
<br />accordance with the terms of the gift, grant, loan or agreement related thereto.
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<br />6.8 Subdivision 8. Disbursements. All VLAWMO disbursements on budget items shall be
<br />reviewed and approved by the Technical Committee. A report of all disbursements shall be
<br />sent to the Board’s Secretary-Treasurer of the Board and the finance officer of the
<br />Technical Commissionand the TEC’s Finance Officer for review. and a copy provided to
<br />the Board. Checks issued by VLAWMO shall have two signatures. Officers andbe signed
<br />by the VLAWMO Administrator may be authorized to sign checks. An Officersand the
<br />Board Chair. The Secretary-Treasurer shall maintain a bond shall be maintained by
<br />VLAWMO in the amount of at least $10,000. VLAWMO will be responsible for paying
<br />the premium on said bond.
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<br />6.9 Subdivision 9. Revenue Bonds to Secure MPCA Loan. VLAWMO is given express
<br />authority to issue revenue bonds in a principal amount not to exceed $800,000 (the
<br />“Bonds”) to secure the Loan to finance the Project. The term “Bonds” shall also include
<br />bonds issued to refund and refinance the Bonds. As provided in Minn. Stat. § 471.59,
<br />subd. 11, the Bonds shall be revenue obligations of VLAWMO which are issued on behalf
<br />of the Members, and shall be issued subject to the conditions and limitations set forth in
<br />Minn. Stat. § 471.59, subd. 11. The Bonds shall be payable solely from VLAWMO’s
<br />revenues including its storm water utility fees. VLAWMO may not pledge to the payment
<br />of the Bonds the full faith and credit or taxing power of the Members. No bonds,
<br />obligations or other forms of indebtedness other than the Bonds may be issued by
<br />VLAWMO without the prior consent of the Members.
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<br />SECTION IXVII
<br />DURATION OF THIS JOINT POWERS AGREEMENT
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<br />7.1 Subdivision 1. Duration of Agreement. Each Member agrees to be bound by the terms of
<br />this Agreement until December 31, 20262046, and that it may be continued thereafter at the
<br />option of the Members. This Agreement shall be in full force and effect upon the filing of
<br />certified copy of the resolution approving said Agreement by each governmental
<br />unitMember.
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<br />7.2 Subdivision 2. Termination of Agreement. This agreement may be terminated prior to
<br />January 1, 2025December 31, 2046, by the unanimous consent of the parties. If the
<br />agreement is to be terminated, a notice of the intent to dissolve the VLAWMO shall be sent
<br />to the Board of Water and Soil Resources and to Ramsey and Anoka Counties at least 90
<br />days prior to the date of dissolution.
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<br />7.3 Subdivision 3. Dissolution. In addition to the manner provided in Subdivision 2 for
<br />termination as provided above, any memberMember may petition the Board of Directors to
<br />dissolve the agreement.this Agreement. Upon ninety (90) days’ notice in writing to the
<br />clerk of each member governmental unit and toMember, the Board of Water and Soil
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