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DRAFT - 3/6/97 <br /> <br />purchasing requirements of the County so selected shall apply to transactions of <br />the Authority. The chief financial officer of the County so selected shall act as <br />controller for the Authority and shall draw warrants to pay demands against the <br />Authority when the demands have been approved by the Authority. <br /> <br />Section 5: Accountability for Funds. <br /> <br /> All funds shall be accounted for according to generally acceptable accounting <br />principles. A report on all receipts and disbursements shall be forwarded to the <br />Authority on an annual basis. The members have the authority to request reports <br />pertaining to any and all budgeting and accounting services. All interest earned <br />from established Authority funds shall be credited back to that same fund. <br /> <br />ARTICLE VIII. WITHDRAWAL AND TERMINATION <br /> <br />Section 1'. Withdrawal. <br /> <br /> Any party may withdraw on December 31 of any year by giving written <br />notice on or before August 1 of that year to the Chair of the Authority. Notice shall <br />be a certified copy of a resolution of its governing body indicating its intent to <br />withdraw from this Agreement. Upon receipt of the resolution, the Chair of the <br />Authority shall forward a copy of the resolution to each of the members. In the <br />event of withdrawal by any member body, this Agreement shall remain in full force <br />and effect as to all remaining member bodies. <br /> <br />Section 2: Effect of Withdrawal. <br /> <br /> Withdrawal by any member shall not terminate this Agreement except as <br />provided in Section 3, herein. Withdrawal shall not act to discharge any liability <br />incurred or chargeable to any member before the effective date of withdrawal. <br />Such liability shall continue until appropriately discharged by law or agreement. <br /> <br />No <br /> <br />l0 <br /> <br /> <br />