Agenda - Council - 06/25/1985 - Laserfiche WebLink

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OcCur wtthtn ~ ninety (90) day pertod. Withdrewal of eny p~rty m~y bt eccomplished by rS)lng written notice, with th¢ OrganiZatiOn end other ! ! parties sixty (6D) days prior to thc el(active date of the withdrawal. ~o party may withdraw (ton, this Agreement ~ntil the withdrawing party has ~et its (ull (inancial obligations (or the year. I I I I I I SECIIO~ ¥ Dissolution of Organization 5.1 The Organization shall be dissolved under any Of the following conditions' a) Upon terinination of this Agreement; b) Upon unanimous agreement of all parties; or c) Upon the membership of the Organization being reduced to less than three parties. Upon dissolution, all personal property of the Organization shall be sold and the proceeds thereof, together with monies on hand after payment of all obligations, shall be distributed to the parties. Such distribution of Organization assets shall be made in proportion to the total contributions to the Organization for such costs made by each party. All payments due and owing for operating costs under Section 3.7, Subd. g, or other unfilled financial obligations, shall continue to be the lawful obligation of the parties. SECllO~ VI Amendment 6.1 The Organization may recommend changes in and amendments to this Agreement to the governing bodies of the parties. Amendments shall be adopted by a two-thirds vote of the governing bodies of the parties within ninety (gD} days of referral. Amendments shall be evidenced by appropriate resolutions of the governing'bodies of each party filed with the Organizatio~ and shall, if no effective date is contained in the amendment, become effective as of the date all such filings have been completed. -ll-