Laserfiche WebLink
$5,000 shall be made only with such approval and the additional <br />approval of the governing body of each of the cities. Any <br />documents required to be executed by the Authority may be executed <br />by any two of the three city managers. Each member of the <br />steering committee shall have one vote and all actions by the <br />steering committee shall be taken only after approval by the <br />votes of at least two of its members. <br />Section 9, Joint Oneratinq Fund <br />A Joint Operating Fund shall be established which shall <br />be used to pay all administrative expenses incurred by the <br />Authority, together with all costs of maintenance and operation <br />arising from the treatment and disposal of sewage and industrial <br />wastes. Each city shall make deposits to the Joint Operating <br />Fund in the same proportion of the total required amount of <br />such deposits that the gallonage flows from such city into the <br />Joint Facilities bears to the total gallonage flow into the <br />Joint Facilities; provided that San Carlos and Belmont shall <br />agree between themselves as to the allocation between them of <br />the deposit applicable to the gallonage flow from their combined <br />facilities into the Joint Facilities. The amounts, of such <br />deposits shall be computed periodically, not more frequently <br />than monthly nor less frequently than annually, as provided <br />in Section 10. Each city shall initially deposit into the Joint <br />Operating Fund an amount obtained by applying to the sum of <br />*2,000 the ratio that such city's ownership as sha,,n on Schedule <br />A attached hereto and made a part hereof bears to the total owner- <br />ship as shown on such Schedule. <br />All moneys in the Joint Operating Fund shall be paid out <br />by the Controller and Treasurer for the purposes for which said <br />fund was created upon approval of demands for Payment as provided <br />We <br />