Agenda - Council - 04/22/1997 - Laserfiche WebLink

Home

Section 4: Ef.f. ect of Termination, Termination shall not discharge any liability incurred by the Authority or by the members during the term of this Agreement. The Authority shall continue to operate after the date of termination only for the purpose of winding .up its business and for aiding in the prosecution and defense of claims. Property or surplus morley acquired by the Authority shall be distributed to the members in proportion to contributions of the members. The Authority shall approve a final report of its activities and affairs and, on the expiration of thirty (30) days therefrom, .shall cease to exist. ARTICLE IX. MISCE[,LANEOUS Section 1; Amendments. This Agreement may be amended by agreement of a majority of the parties as evidenced by resolutions adopted by the respective governing bodies. Article VII, Section 2 and Article Vltl, Sections 1 and 2 may be amended only by unanimous agreement of the parties. Section 2: Records, Accounts and Re.~orts. The Authority shall establish and maintain such funds and accounts as may be required by good accounting practices. The books and records of the Authority shall be subject to the provisions of Minn. Stat. Chapter 13, the Minnesota Government Data Practices Act, and Minn. Stat. § 16B.04. The Authority, within one 'hundred and twenty (120) days after the close of each fiscal year, which shall be January 1 to-December'31, shall give a complete written report of all financial activities for such fiscal year to the parties. Section 3' Counter.carts. This Agreement may be executed in two or more counterparts, each of 12 I I I I I I I I I I I I I I I I I