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Resolution 6687
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Resolution 6687
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Last modified
3/16/2018 11:13:38 AM
Creation date
3/16/2018 11:13:23 AM
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Resolutions
Resolution Number
6687
Date
12/18/2013
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SECTION 18. AMENDMENT OF AGREEMENT. <br /> This Agreement may be amended upon approval of a Supermajority Vote of the Executive Board <br /> except that any amendment affecting the following shall require consent of the legislative <br /> authorities of all Principals: <br /> a. Expansion of the scope of services provided by the PORTAL AGENCY beyond <br /> the scope of expansion authorized in Section 5.c. <br /> b. The terms and conditions of membership on the Executive Board. <br /> c. Voting rights of Executive Board Members. <br /> d. Powers of the Executive Board. <br /> e. Principal contribution responsibilities. <br /> f. Hold harmless and indemnification requirements. <br /> g. Provisions regarding duration, termination or withdrawal. <br /> h. The conditions of this Section. <br /> This section shall not be construed to require legislative authority consent for the addition of a <br /> new Principal or agreement to serve an additional Subscriber, or to expand or contract the <br /> services purchased by any Principal or Subscriber or offered by the PORTAL AGENCY. <br /> SECTION 19. TERMINATION OF AGREEMENT; DISSOLUTION OF AGENCY. <br /> a. Generally. This Agreement may be terminated upon the approval of a <br /> Supermajority Vote of the Executive Board. The termination shall be by direction of the <br /> Executive Board to wind up business by a date specified by the Executive Board,which date <br /> shall be at least one (1) year following the date of the vote to terminate. Upon the final <br /> termination date,this Agreement shall be fully terminated. <br /> b. Distribution of Property on Termination of Agreement. Upon termination of this <br /> Agreement, all property acquired during the life of the Agreement remaining in ownership of <br /> PORTAL AGENCY shall be disposed of in the following manner: <br /> i. Real or Personal Property. All real or personal property purchased pursuant <br /> to this Agreement and all unexpended funds or reserve funds, net of all <br /> outstanding PORTAL AGENCY liabilities, shall be distributed to those <br /> Principals still participating in the PORTAL AGENCY on the day prior to <br /> the termination date and shall be apportioned between Principals based on <br /> the ratio that the average of each Principals' contributions to the operating <br /> budget over the preceding five (5)years bears to the total of all then <br /> remaining Principals' user fees paid during such five-year period. The <br /> Executive Board shall have the discretion to allocate the real or personal <br /> v. 11.4.13 25 <br />
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