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2006-07-12 CC Packet
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2006-07-12 CC Packet
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<br />event of withdrawal by any party, this AGREEMENT shall remain in full force and effect as <br />to all remaining parties. <br /> <br />B. Effect of Withdrawal. Disposition of Property. Funds. and Obli2ations. A party <br />withdrawing from this AGREEMENT shall, prior to such withdrawal, pay the full amount of <br />any unpaid assessments to the TASK FORCE as defined in Article 8(A). A party <br />withdrawing from this AGREEMENT shall not receive a distribution of property or funds <br />until such time as this AGREEMENT is terminated by all parties pursuant to this Article 9. <br />Such disposition of property shall be in accordance with the provisions of Section D of this <br />Article 9. <br /> <br />Any member withdrawing shall be liable for any assessment in the year in which the <br />withdrawal becomes final only for the period in such year that the partl remains a party. The <br />party's assessment shall not exceed the sum of one-twelfth (1112 ) the full assessment <br />multiplied by the number of months or fractions thereof in the year during which the party <br />remains a party. <br /> <br />C. Termination. This AGREEMENT shall terminate upon the occurrence of anyone of the <br />following events: <br /> <br />(a) When necessitated by operation of law or as a result of a decision by a court of <br />competent jurisdiction; or <br /> <br />(b) When a majority of the parties agrees to terminate this AGREEMENT. <br /> <br />D. Disposition of Property and Funds. At such time as this AGREEMENT is terminated, any <br />property interest remaining in the TASK FORCE, following discharge of all obligations owed <br />by the TASK FORCE, shall be disposed of and the proceeds of the property shall be returned <br />to the parties in proportion to their contribution. <br /> <br />; <br /> <br />E. Effect of Withdrawal of Financial Member on Bud2et. In the event a Financial Member <br />withdraws, the unpaid assessment allocable to such member in the year of withdrawal and <br />subsequent years shall be reallocated to the remaining Financial Members in proportion that <br />the assessment allocations under Article 8(A) hereof bear to each other. <br /> <br />ARTICLE 10. MISCELLANEOUS <br /> <br />A. Amendments. This AGREEMENT may be amended by unanimous agreement of the parties <br />as evidenced by resolutions adopted by the respective governing bodies. <br /> <br />B. Records. Accounts. and Reports. The TASK FORCE shall establish and maintain such <br />funds and accounts as may be required by good accounting practices. The books and records <br />of the TASK FORCE shall be subject to the provisions of Minn. Stat. Ch. 13, the Minnesota <br />Government Data Practices Act, and Minn. Stat. ~ 16C.05, subd. 5. The TASK FORCE, <br />within one hundred twenty (120) days after the close of each fiscal year, which shall be <br /> <br />Page 9 of 11 <br /> <br />l~ <br />
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