82-2668 - Laserfiche WebLink

Home Browse Search

f:~ : , ". .. .' . '", . .' accxrdance with oormal and accepted accounting procedures and principles used by Minnesota Statutory Cities. XI. rlJRATIOO Section 1. The Comnission shall continue for an indefinite term unless the mmber of members shall becane less than five. The Coomission may also be terminated my mutual agreement of all of the members at any time. Section 2. In order to prevent obligation for its financial contribu- tion to the Camlission for the ensuing year, a member shall withdraw fran the Carmission by filing a written ootice with the secretary by October 15 of any year giving ootice of withdrawal effective at the end of that calendar year1 and nembership shall continue lBltil the effective date of the withdrawal. Prior to the effective date of withdrawal a notice of withdrawal maybe rescinded at any time by a roornber. If a nenber withdraws before dissolution of the Ccmnission, the m:mber shall have 00 claim against the assets of the Catmission. A merrber withdrawing after October 15 shall be obligated to pay its entire oontribution for the ensuing year as outlined in the bJdget of the Carmission for the ensuing year . Section 3. In the event of dissolution, the Carmission shall deter- mine the measures necessary to affect the dissolution and shall provide for the taking of such measures as pranptly as circlD'RStances permit, subject to the pro- visions of this agreement. Upon dissolution of the Camlission all remaining assets of the Cannission, after payment of obligations, shall be distributed among the then existing nenbers in proportion to the m::>st recent member by member breakdCMtl of the franchise fee as reported by the Grantee. The Comnission shall oontinue to exist after dissolution for such per iad, 00 longer than six IOOl'lths, as is necessary to wind up its affairs but for no other :p.rrpose. -9-