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25A - AGMT - CIVIC CENTER JPA
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25A - AGMT - CIVIC CENTER JPA
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Last modified
2/16/2016 11:43:10 AM
Creation date
10/2/2014 2:43:19 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Parks, Recreation, & Community Services
Item #
25A
Date
10/7/2014
Destruction Year
2019
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SECTION 5. Fiscal Year. <br />For the purposes of this Restated Agreement, the term "fiscal year" shall mean the fiscal year as <br />established from time to time by the County, being at the date of this Restated Agreement the period <br />from July I to and including the following June 30. <br />SECTION 6. Disposition of Assets. <br />At the end of the term hereof, or upon earlier termination of this Restated Agreement as set forth in <br />Section 2 hereof, all real property of the Authority shall automatically vest in the Party thereto, which <br />has heretofore conveyed said property to the Authority and shall thereafter remain the sole property of <br />said Party. All other property of Authority shall be returned to the Parties in proportion to the <br />contributions made. <br />SECTION 7. personnel. <br />The Authority shall request from the County and /or the City the services of such personnel to serve <br />the Authority ex- officio as may be necessary to carry out this Restated Agreement and shall have <br />power to employ temporary professional and technical assistance for the performance of this Restated <br />Agreement; provided that adequate sources of funds are assured for the payment of such temporary <br />professional and technical services, which are not provided by a Party hereto. <br />SECTION 8. Accounts and Reports. <br />To the extent not covered by the duties assigned to any trustee, the Auditor of the Authority shall <br />establish and maintain such funds and accounts as may be required by good accounting practice by any <br />provision of any resolution of the Authority securing its revenue bonds. The books and records of the <br />Authority in the hands of the trustee or the Auditor shall be open to inspection at all reasonable times <br />by representatives of the City and the County. The Auditor of the Authority, within 120 days after the <br />close of each fiscal year, shall give a complete written report of all financial activities for such fiscal <br />year to the City and to the Comity to the extent such activities are not covered by the report of the <br />trustee. The trustee appointed under any resolution of issuance of the bonds of the Authority shall <br />establish suitable funds, furnish financial reports and provide suitable accounting procedures to carry <br />out the provisions to said resolution. Said trustee may be given such duties in said resolution as may <br />be desirable to carry out this Restated Agreement. <br />25A -7 <br />
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