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Subdivision 25. Permits. The Board shall cooperate with the State of Minnesota, its agencies and other political subdivisions in obtaining all required permits. It shall - review permits issued by the Cities to accomplish the purposes of the Organization. Subdivision 26, Local Studies. Each City reserves the right to conduct separate or concurrent studies on any matter under study by the Organization. Subdivision 27. Gifts, Grants, Loans. The Organization may, within the scope of this Agreement, accept gifts, apply for and use grants or loans of money or other property from the United States, the State of Minnesota, a unit of government or other governmental unit or organization, or from any person or entity for the purposes described herein and may enter into any reasonable agreement required in connection therewith; it may comply with any laws or regulations applicable thereto; and it may hold, use and dispose of such money or property in accordance with the terms of the gift, grant, loan or agreement relating thereto. SECTION VI DURATION Subdivision 1. The Joint Powers Agreement shall continue until terminated by the Cities as herein provided. Subdivision 2. Reserved Subdivision 3. Any City may petition the Board to dissolve the Organization. The Board shall hold a meeting preceded by thirty (30) days' written notice to the Clerks of each City. Upon a favorable vote of a majority of the entire Board, the Board may recommend that the Organization be dissolved. Such recommendation shall be submitted to each City and, if ratified by each City Council within sixty (60) days, the Organization shall be dissolved following expiration of a reasonable time to complete the work in progress and following compliance with the provisions of M.S. 103B.221 and M.S. 1038. 225. SECTION VII DISSOLUTION Upon dissolution of the Organization, all property of the Organization shall be sold and the proceeds hereof, together with the monies on hand, shall be distributed to the Cities in proportion to the contributions made by the Cities to the Organization in its L last annual budget.