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2016 JPA with <br />Prior Amendments <br /> <br /> 19 <br />(b) If a capital project is to. Capital Improvements may be funded wholly or in part by a <br />combination of funds budgeted by VLAWMO as part of its annual budget, grants <br />received by VLAWMO, and expenditures made directly by one or more governmental <br />unit(s), they will be provided the opportunity to review and approve or <br />disapproveMembers. For jointly funded projects, VLAWMO shall agree in writing with <br />the capital improvement budget within sixty (60) days of receipt of Members making <br />direct contributions toward the Board's Capital Improvement Budget; and <br /> <br />3)(a)If service fees, grants, interest or other funding sources are available the source and <br />amounts of such funds shall be shownfunding and. <br /> <br />(b) If the capital improvement budget is approved, as provided above, each governmental <br />unit shall contribute its budgeted share of the cost ofresponsibilities toward <br />constructing said capital improvement projectsand maintaining the Capital <br />Improvement. <br /> <br />6.5 Subdivision 5. Governmental Unit Financing. Members may establish a watershed <br />management tax district in the Area for the purpose of paying costs of the engineering and <br />planning required to develop a watershed management plan for the Area. After the plan is <br />adopted and approved, a tax district may be established for the purpose of paying capital <br />costs of projects described in the plan (including normal and routine maintenance of <br />projects). If required, the tax district shall be established by ordinance adopted after a <br />hearing by a local government unit, following provisions of Minnesota Statutes, <br />ChapterMinn. Stat., chap. 103B. <br /> <br />6.6 Subdivision 6. Reserve Funds. The Board may accumulate reserve funds for the purposes <br />herein mentioned and may invest funds of the Board not currently needed for its operations <br />in the manner and subject to the laws of Minnesota applicable to statutory cities. Any and <br />all reserve funds must be clearly indicated on the annual financial audit provided to the <br />Members. <br /> <br />6.7 Subdivision 7. Gifts; Grants; Loans. VLAWMO may, within the scope of this <br />Agreement, accept gifts, apply for and use grants or loans of money or other personal <br />property from the United States, the State of Minnesota, a unit of government , or other <br />governmental unit or organization or any person or entity for the purposes described herein; <br />may enter into any reasonable agreement required in connection therewith, shall comply <br />with any laws or regulations applicable thereto, and may hold, use , and dispose of such <br />money or personal property in accordance with the terms of the gift, grant, loan, or <br />agreement related thereto. <br /> <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 CommissionTEC’s Finance Officer for review. and a copy provided to the <br />Board. Checks issued by VLAWMO shall have two signatures. Officers andbe signed by <br />the VLAWMO Administrator may be authorized to sign checks. An Officersand the Board