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80-2372
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80-2372
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8/16/2005 12:46:54 PM
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8/16/2005 10:48:36 AM
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<br />. '" r ~ <br /> <br />. <br />.... <br /> <br />. <br />.' . <br />'.. <br /> <br />by the Board on the basis to anticipated expcndituies and only <br /> <br />if the anticipated expenditures are in excess of the anticipated <br /> <br />,. , . <br />: ,~, . : :<. .' ;'> '.." .'~ <br /> <br />funds otherwise;~o the Autho~ity. The contribution in any year <br /> <br />by a me~)er shall be in direct proportion to the number of votes <br /> <br />to which the director representing the member on th~ Board ~s <br /> <br />entitled. Such contributions shall be made by the member to' <br /> <br />the Authority as follows: One-half on or before February 1 of <br /> <br />each year and one-half on or before August 1 of each year. <br /> <br />Section 4. An annual budget shall be adopted by the Board <br /> <br />at the organizational meeting and at the annual meeting each <br /> <br />year. Copies of the budget shall be mailed promptly to the <br /> <br />chief administrative office of each merilier. The budget is deemed <br /> <br />t, <br /> <br />approved by the members except one who, at any time prior to <br /> <br />the annual meeting gives notice in writing to the secretary- <br /> <br />treasurer that it is withdrawing from the Authority. <br /> <br />XI. DURATION AND DISSOLUTION <br /> <br />Section 1. The Authority shall exist, and this agreement <br /> <br />is in effect, for aD indefinite term until dissolved in <br /> <br />accordance with Section 3 of this article. <br /> <br />Section 2. A member may withdraw from the Authority by <br /> <br />filing a written notice with the secretary-treasurer by June 15 <br /> <br />of any year giving notice of withdrawal at the end of that <br /> <br />calendar year; and r,lCmbership shctll continue until the effeeti VB <br /> <br />do. te of the wi thc1rmlo.l. A notice of wi t.hdravlal may be rescinded <br /> <br />at uny time by a member. If a member withdru\vs before dissolu- <br /> <br />tion of the Authority, the member shall have no claim on the <br /> <br />\ \ <br /> <br />assets of the Authority. <br /> <br />-IQ- <br />
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