Orange County NC Website
Browse       Search
18 <br />Except as otherwise provided by law, all checks or drafts on an <br />official depository shall be signed by the Finance Officer and <br />countersigned by the Program Director. The Governing Board may waive <br />the requirements of dual signatories if the Governing Board determines <br />that the internal control procedures of the LME will be satisfactory <br />in the absence of dual signatures. <br />The Governing Board shall have the accounts of the LME audited <br />annually in accordance with Chapter 159 of the North Carolina General <br />Statutes. <br />19. OWNERSHIP OF REAL PROPERTY AND OTHER ASSETS <br />The Parties agree that all assets formerly owned by OPC, for <br />which the LME is granted use under this Agreement, shall be considered <br />LME assets, except that all assets owned by Orange, Person or Chatham <br />County shall remain the assets of Orange, Person or Chatham County as <br />applicable. Upon termination of this Agreement, disposition of the <br />assets of the LME shall be accomplished in accordance with paragraph <br />29. Legal title to all real property necessary to the Undertaking <br />shall be held by the Parties individually, or jointly as tenants in <br />common, in such manner and proportion as they may from time to time <br />determine. <br />20. DISSOLUTION OF OPC AND TRANSFER OF ASSETS AND LIABILITIES <br />The Parties through their respective Boards of County <br />Commissioners,- in accordance with the provisions of N.C.G.S. §122C- <br />115.3, have determined to dissolve OPC and operate as a multi-county <br />program. The dissolution of OPC is effective at the end of the fiscal <br />year in which the action of dissolution transpired and is concurrent <br />