MARVIN MANDEL, Governor                                      1061

BUDGETS, FINANCING AND PROPERTY

14.01. ANNUAL CAPITAL AND CURRENT EXPENSE
BUDGETS. —(A) CAPITAL BUDGET. THE COMMISSION SHALL
ANNUALLY ADOPT A CAPITAL BUDGET INCLUDING ALL CAPITAL
PROJECTS IT PROPOSES TO UNDERTAKE OR CONTINUE, OR
TOWARD PAYMENT OF THE COST OF WHICH IT PROPOSES TO
CONTRIBUTE, DURING THE BUDGET PERIOD CONTAINING A
STATEMENT OF THE ESTIMATED COST OF EACH PROJECT, THE
METHOD OF FINANCING THEREOF AND, WHEN APPLICABLE, THE
AMOUNTS OF CURRENT ANNUAL SHARES OF THE COST WHICH ANY
PERSON OR GOVERNMENTAL AGENCY HAS CONTRACTED TO PAY.
THE PORTIONS OF THE CAPITAL BUDGET NOT BALANCED BY
SHARES OF THE COSTS UNDERTAKEN BY ANY PERSON OR
GOVERNMENTAL AGENCY SHALL BE FINANCED IN SUCH MANNER
AS THE ENTIRE COMMISSION, BY UNANIMOUS VOTE, SHALL
DETERMINE.

(B)    CURRENT EXPENSE BUDGET. THE COMMISSION
SHALL ANNUALLY ADOPT A CURRENT EXPENSE BUDGET FOR EACH
FISCAL YEAR. SUCH BUDGET SHALL INCLUDE THE
COMMISSION'S ESTIMATED EXPENSES FOR ADMINISTRATION,
OPERATION, MAINTENANCE AND REPAIRS, INCLUDING A
SEPARATE STATEMENT THEREOF FOR EACH PROJECT TOGETHER
WITH ITS COST ALLOCATIONS. THE TOTAL OF SUCH
EXPENSES SHALL BE BALANCED BY THE COMMISSION'S
ESTIMATED REVENUES FROM ALL SOURCES, INCLUDING THE
COST ALLOCATIONS WHICH ANY PERSON OR GOVERNMENTAL
AGENCY HAS CONTRACTED TO PAY IN CONNECTION WITH ANY
PROJECT, AND AN EQUITABLE APPORTIONMENT, BY UNANIMOUS
VOTE OF THE ENTIRE COMMISSION, AMONG THE SIGNATORIES
OF THE REMAINING REVENUES REQUIRED. FOLLOWING THE
ADOPTION OF THE ANNUAL CURRENT EXPENSE BUDGET BY THE
COMMISSION, THE EXECUTIVE DIRECTOR OF THE COMMISSION
SHALL:

(1)   CERTIFY TO THE RESPECTIVE SIGNATORIES, AND
SUBMIT TO PERSONS AND OTHER GOVERNMENTAL AGENCIES
STATEMENTS OF, THE AMOUNTS DUE FROM THEM IN ACCORDANCE
WITH EXISTING COST SHARING ESTABLISHED FOR EACH
PROJECT; AND

(2)    TRANSMIT CERTIFIED COPIES OF SUCH BUDGET TO
THE PRINCIPAL BUDGET OFFICERS OF THE RESPECTIVE
SIGNATORIES AT SUCH TIME AND IN SUCH MANNER AS MAY BE
REQUIRED UNDER THEIR RESPECTIVE BUDGETARY PROCEDURES.

(C)    PAYMENTS OF BUDGET APPORTIONMENTS. THE
RESPECTIVE SIGNATORIES COVENANT AND AGREE TO INCLUDE
THE AMOUNTS ALLOCATED AND APPORTIONED FOR THE SUPPORT
OF THE CURRENT EXPENSE BUDGET OF THE COMMISSION IN