App § 29. Cost-sharing formula
§ 29. Cost-sharing formula (a) Following its initial meeting, the Authority shall be charged with the creation and acceptance of a memorandum of understanding (MOU) that outlines a cost-sharing formula between member municipalities. (b) The MOU shall then be proposed to the legislative bodies of the member municipalities for adoption. (c) It is anticipated that […]
App § 30. Invoice
§ 30. Invoice After adoption of the budget for the ensuing fiscal year, the Authority shall deliver an invoice to each member for its share of the net cost of operating the Authority, accompanied by its budget estimates for the next two years. (Added 2013, No. M-17 (Adj. Sess.), § 2, eff. May 20, 2014.)
App § 31. Collection
§ 31. Collection (a) Annually, on or before July 1, the Treasurer shall issue and present a warrant to the legislative body of each member requiring that the amount of such assessment be paid beginning in accordance with the schedule of payments adopted by the Board. (b) The legislative body of each member shall draw […]
App § 32. Limitations of appropriations
§ 32. Limitations of appropriations (a) Appropriations made by the Board for the various estimates of the budget as defined in section 30 of this chapter shall be expended only for such estimates; however, by majority vote of the Board, the budget may be amended from time to time to transfer funds between or among […]
App § 33. Indebtedness
§ 33. Indebtedness (a) Short-term borrowing. (1) The Board may borrow money through the issuance of notes of the Authority for the purpose of paying current expenses of the Authority. Such notes must mature within one year. (2) The Board may also borrow money in anticipation of assessment to each member in an amount not […]
App § 34. Sinking fund
§ 34. Sinking fund (a) The Board may establish and provide for a sinking fund for the retirement of bond issue or other debt, or to provide security for the payment thereof. (b) When so established, the sinking fund shall be kept intact and separate from other monies at the disposal of the Authority, and […]
App § 35. Capital reserve fund
§ 35. Capital reserve fund (a) The Board may establish and provide for a capital reserve fund to pay for public improvements, replacement of worn-out buildings and equipment, and major repairs of Authority facilities. (b) Any such capital reserve fund shall be kept in a separate account and invested as are other public funds and […]
App § 36. Special Authority meetings
§ 36. Special Authority meetings (a) The Board may on its own motion call special meetings of the Authority and shall call a special meeting of the Authority when action by the voters of the Authority is required. (b) The Board shall call a special meeting of the Authority if petitioned to do so by […]
App § 25. Committees
§ 25. Committees The Board shall have the authority to establish any and all committees as it may deem necessary. (Added 2013, No. M-17 (Adj. Sess.), § 2, eff. May 20, 2014.)
App § 26. Removal of officers
§ 26. Removal of officers An officer may be removed by a vote of a majority of the Board whenever, in its judgment, the best interest of the Authority will be served. (Added 2013, No. M-17 (Adj. Sess.), § 2, eff. May 20, 2014.)