2006-07-12 CC Packet - Laserfiche WebLink

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event of withdrawal by any party, this AGREEMENT shall remain in full force and effect as to all remaining parties. B. Effect of Withdrawal. Disposition of Property. Funds. and Obli2ations. A party withdrawing from this AGREEMENT shall, prior to such withdrawal, pay the full amount of any unpaid assessments to the TASK FORCE as defined in Article 8(A). A party withdrawing from this AGREEMENT shall not receive a distribution of property or funds until such time as this AGREEMENT is terminated by all parties pursuant to this Article 9. Such disposition of property shall be in accordance with the provisions of Section D of this Article 9. Any member withdrawing shall be liable for any assessment in the year in which the withdrawal becomes final only for the period in such year that the partl remains a party. The party's assessment shall not exceed the sum of one-twelfth (1112 ) the full assessment multiplied by the number of months or fractions thereof in the year during which the party remains a party. C. Termination. This AGREEMENT shall terminate upon the occurrence of anyone of the following events: (a) When necessitated by operation of law or as a result of a decision by a court of competent jurisdiction; or (b) When a majority of the parties agrees to terminate this AGREEMENT. D. Disposition of Property and Funds. At such time as this AGREEMENT is terminated, any property interest remaining in the TASK FORCE, following discharge of all obligations owed by the TASK FORCE, shall be disposed of and the proceeds of the property shall be returned to the parties in proportion to their contribution. ; E. Effect of Withdrawal of Financial Member on Bud2et. In the event a Financial Member withdraws, the unpaid assessment allocable to such member in the year of withdrawal and subsequent years shall be reallocated to the remaining Financial Members in proportion that the assessment allocations under Article 8(A) hereof bear to each other. ARTICLE 10. MISCELLANEOUS A. Amendments. This AGREEMENT may be amended by unanimous agreement of the parties as evidenced by resolutions adopted by the respective governing bodies. B. Records. Accounts. and Reports. The TASK FORCE shall establish and maintain such funds and accounts as may be required by good accounting practices. The books and records of the TASK FORCE shall be subject to the provisions of Minn. Stat. Ch. 13, the Minnesota Government Data Practices Act, and Minn. Stat. ~ 16C.05, subd. 5. The TASK FORCE, within one hundred twenty (120) days after the close of each fiscal year, which shall be Page 9 of 11 l~