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Sec. 10-119. Organization; Meetings; Quorum and Rules <br /> and Regulations. <br /> <br /> The members of the Portsmouth Municipal Finance Con, is- <br />sion shall, immediately after their appointment, meet and organize. <br />The~ shall elect from the appointed members a chairman and a vice- <br />chairman and such other officers thereof, if any, as they may deem <br />necessary who shall serve for terms of two years. The Commission <br />shall meet at leas~ monthly in regular session. A majority of the <br />appointed members of the Commission shall constitute a quorum for <br />the transaction of business. The.Commission may adopt suitable <br />rules and regulations for the conduct of its business. <br /> <br />Sec. 10-120. Responsibilities and Duties. <br /> <br />The Commission shall: <br /> <br /> (a) Survey all aspects of the City's financial con- <br />dition and make recommendations concerning such to the City Council <br />at least semi-annually. <br /> <br /> (b) Study the revenue sources of the City with re- <br />gard to the tax policy of the City and the methods of collecting <br />revenue and make recommendations thereon so as to provide for an <br />equitable distribution of the City's revenue and tax burdsn. <br /> <br /> (c) Explore all possible new sources of revenue and <br />make recommendations thereon. <br /> <br /> (d) Analyze the expenditures of the City with re- <br />gard to the necessity of such and with regard to the materials <br />and services provided and make recommendations thereon so as to <br />provide for the most beneficial expenditure of City funds. <br /> <br /> (e) Study all new demands for City funds and make <br />recommendations thereon. <br /> <br /> (f) Analyze the City's budgeting procedures and <br />methods and specifically the City's annual budget and five year <br />Capital Improvement program and make recommendations thereon. <br /> <br /> (g) Analyze the School Board's budgeting procedures <br />and methods and specifically its annual budget and make recommenda- <br />uions thereon. <br /> <br /> (h) Analyze the City's and School Board's account- <br />ing procedures and methods and make recommendations thereon. <br /> <br /> (i) Survey all aspects of the City's bonded indebt- <br />edness and make recommendations thereon. <br /> <br />-2- <br /> <br /> <br />