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<br />January 27, 2011 draft
<br />sharing information in order to assist local governments in complying with State and Federal laws
<br />that pertain to the water quality in the Falls Lake Watershed; (b) providing a mechanism for
<br />participating local governments to coordinate and fund common technical resources; (c) planning for
<br />and conducting water quality monitoring in the Falls Lake Watershed in coordination with the
<br />Department of Environment and Natural Resources; (d) coordinating with the Department of
<br />Environment and Natural Resources in the development of a transparent and accessible system for
<br />recording and maintaining nutrient offsets and credits that complies with any rules adopted to protect
<br />and restore water quality in the Falls Lake Watershed; (e) providing a public forum to review and
<br />discuss innovative approaches to restore, protect, and maintain water quality in the Falls Lake
<br />Watershed; and (f) conducting and evaluating scientific research that describes or predicts conditions
<br />related to or affecting water quality in the Falls Lake Watershed, including the reservoir.
<br />In addition, the Association, as directed by its board of directors, may advocate on behalf of its
<br />members for changes in legislation, rules, or administrative policy related to or affecting the Falls
<br />Lake Watershed, may engage in other activities otherwise allowed by law that relate in any way to
<br />water quality and wastewater management in the Falls Lake Watershed,... and may conduct and
<br />exercise all powers, rights and privileges granted to non-profit corporations under the Nonprofit Act;
<br />provided, however, that the Association shall not engage in any activity authorized by this provision
<br />that would jeopardize the federal income tax exemption of the Association under Section 501(c)(3)
<br />of the Internal Revenue Code.
<br />3. The Association is organized and shall operate `exclusively for the aforesaid purposes, and in
<br />connection therewith its. scope. of activities shall include accepting, buying, selling, owning, holding,
<br />operating, mortgaging, insuring, pledging, assigning, transferring or otherwise receiving or disposing
<br />of real and personal property; provided, however,... that the Association shall not engage in any
<br />activity authorized by this provision that would. jeopardize the federal income tax exemption of the
<br />Association under Section 501(c)(3) of the Internal Revenue Code.
<br />4. The Board of Directors may authorize, amend or_restate operating guidelines, plans, practices,
<br />procedures, and rules and regulations from timer to time in order to effectively implement the
<br />purposes of the Association.
<br />ARTICLE V -FINANCES
<br />The Association shall raise funds by the collection and receipt of membership dues, gifts of
<br />money and property, grants, contributions, donations, bequests, and receipts for services performed;
<br />provided, however, that all such funds must be accepted by the Board of Directors on behalf of the
<br />Association.
<br />All funds collected and received by the Association, together with the income therefrom shall be
<br />deposited, held, retained, managed and conserved in a capital fund (or funds) and administered, used and
<br />applied by the Association in the sole discretion of the Board of Directors in accordance with the
<br />purposes described in Article IV of these Bylaws and the Articles and as provided in Article VI. The
<br />Board of Directors may accept revenues and properties that are qualified, conditioned, limited or
<br />restricted in their use; provided, however, that such qualifications, conditions, limitations and
<br />restrictions shall not conflict with the purposes of the Association set forth in these Bylaws and the
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