Item 3: PH on MWMC IGA - Laserfiche WebLink

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13. Annual Budget and Capital Improvement Proqram: The Commission shall prepare an annual and any necessary supplemental budgets and CIP in accordance with its bylaws. The Commission may make expenditures or incur obligations only within limits set by the budget and CIP. Except for expenditures that the Commission reasonably determines are necessary to meet Bond covenants and achieve and maintain an unenhanced credit rating of A for the Commission's Bonds from at least one nationally recognized rating agency, the Commission shall not make any expenditures until the Commission's budget and CIP have been ratified by the Governing Bodies. The Commission shall deliver its recommended budget and CIP, together with its estimate of the rates and amounts that are necessary to fund the recommended budget and CIP, to the Governing Bodies by May 1 of each year. If one of the Governing Bodies objects to the recommended budget, CIP or the rates necessary to fund them, the Governing Body shall make every reasonable attempt to use the reconsideration and mediation process set forth in Section 16 in sufficient time to assure that the Commission has an approved budget by July 1. 14. Recommendations: Upon recommendation of the Commission, the Governing Bodies shall: a. Establish sewerage policies. b. Provide the personnel and services necessary for the operation and maintenance of the regional sewerage system at the expense of the Commission. c. Adopt a system of sewer user charges and system development charges as required by Section 8.c of this Agreement. d. Levy and collect the charges. e. Apportion funds that the Governing Body receives for seweragebetween the Governing Body and the Commission in direct proportion to the total charges that are imposed by the Governing Body for sewerage on behalf of the Commission and the Governing Body. 15. Modification and Termination: This Agreement shall continue until modified by unanimous consent of the Governing Bodies. A Governing Body may terminate its participation in the Agreement by providing one year's advance notice of termination to the other Governing Bodies. If the parties are unable to agree on the division of assets and liabilities between the parties, the dispute shall be referred to a board of arbitration for its decision concerning the division. The board shall have five members: a judge of the Circuit Court of Lane County to be selected by the chief judge of the Court, a representative of the State Department of Environmental Quality to be selected by the director of the Department, and one representative who has not served on the Commission from each Governing Body to be selected by the respective Governing Bodies. Notwithstanding the preceding language in this Section, a Governing Body that is obligated to collect revenue on behalf of the Commission may not terminate its participation in this Agreement unless all Bonds have been paid or defeased. V: Environ\MWMC\lGA~Agrement. doc 8 ,2005 (doc. 98535)