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2004 S Manager - Agreement Establishing the Orange-Person-Chatham Local Management Entity
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2004 S Manager - Agreement Establishing the Orange-Person-Chatham Local Management Entity
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Last modified
9/26/2012 3:24:18 PM
Creation date
2/21/2011 10:07:15 AM
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BOCC
Date
6/23/2004
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
5m
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Agenda - 06-23-2004-5m
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 06-23-2004
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23 <br />transition of the Undertaking may take up to one year following notice <br />of termination. In no event shall any Party terminate this Agreement <br />without first assuring that continuity of services will be maintained. <br />This Agreement may not be terminated without first giving written <br />notice to the Secretary. <br />The Parties agree that upon termination of this Agreement, any <br />budgetary surplus available to the LME at the time of its dissolution <br />shall be distributed among the Parties on the same pro rata basis that <br />each Party appropriated and contributed funds to the LME budget during <br />the duration of this Agreement. Distribution to the Parties shall be <br />determined on the basis of an audit of the financial record of the <br />LME. The Governing Board shall select a certified public accountant <br />or an accountant who is subsequently certified by the Local Government <br />Commission to conduct the audit. The audit shall be performed in <br />accordance with N.C.G.S. §159-34. Any liabilities of the LME existing <br />at the time of the termination of this Agreement shall be paid from <br />unobligated surplus funds available to the LME. If unobligated LME <br />surplus funds are not sufficient to satisfy the total indebtedness of <br />the LME, then the remaining unsatisfied indebtedness shall be <br />apportioned on the same pro rata basis that the Parties appropriated <br />and contributed funds to the LME during the duration of this <br />Agreement. <br />30. AMENDING THE AGREEMENT <br />Amendments to this Agreement shall be effective only when reduced <br />to writing, duly executed by the Parties and ratified by resolution of <br />the Board of Commissioners of each Party and spread upon its minutes. <br />
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