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DRAFT - 3~6~97 <br /> <br />member shall be entitled to a refund of assessments paid, or forgiveness of such <br />assessments owed, to the Authority. <br /> <br />Section 3: Termination. <br /> <br /> This Agreement shall terminate upon the occurrence of any one of the <br />following events: <br /> <br />Bo <br /> <br />Co <br /> <br />When members withdraw pursuant to Section 1 so that, in the judgment of <br />the Authority, it becomes impractical or uneconomical to continue. <br /> <br />When necessitated by operation of law or as a result of a decision by a court <br />of competent jurisdiction. <br /> <br />When a majority of the parties agree, by resolution adopted by the respective <br />governing bodies, to terminate this Agreement. <br /> <br />Section 4: Effect of Termination. <br /> <br /> Termination shall not discharge any liability incurred by the Authority or by <br />the members during the term of this Agreement. The Authority shall continue to <br />operate after the date of termination only for the purpose of winding up its business <br />and for aiding in the prosecution and defense of claims. Property or surplus money <br />acquired by the Authority shall be distributed to the members in proportion to <br />contributions of the contracting members. The Authority shall approve a final <br />report of its activities and affairs and, on the expiration of thirty (30) days <br />therefrom, shall cease to exist. <br /> <br /> ARTICLEIX. MISCELLANEOUS <br /> <br />Section 1: Amendments. <br /> <br /> This Agreement may be amended by agreement of a majority of the parties <br />as evidenced by resolutions adopted by the respective governing bodies. Article <br /> <br /> <br />