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TRANSPORTATION CORRIDOR AGENCY - SAN JOAQUIN CORRIDOR
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TRANSPORTATION CORRIDOR AGENCY - SAN JOAQUIN CORRIDOR
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Last modified
2/25/2021 2:54:48 PM
Creation date
12/9/2014 1:57:58 PM
Metadata
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Contracts
Company Name
TRANSPORTATION CORRIDOR AGENCY - FOOTHILL / EASTERN - JOINT POWERS AGREMEENT
Contract #
A-1986-008
Agency
Clerk of the Council
Destruction Year
P
Notes
A-86-008;
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1( <br />10.2 Distribution of Property and Funds. <br />In the event of the termination of this Agreement, <br />any property interest remaining in the Agency following the <br />discharge of all obligations shall be disposed of as the <br />Board shall determine with the objective of returning to each <br />party or former party a proportionate return on the contri- <br />butions made to such properties by such parties, less pre- <br />vious returns, if any, provided that said property interests <br />shall be utilized to construct major arterial transportation <br />facilities which accomplish the purposes of the San Joaquin <br />Hills Transportation Corridor, to the extent legally pos- <br />sible. <br />In the event of the termination of this Agreement, <br />any funds remaining following the discharge of all obliga- <br />tions shall be disposed of by returning to each party a pro- <br />portionate share of such funds equal to the percentage of the <br />contribution made by each party, less each party's propor- <br />tionate share of expenditures, if any, provided that said <br />funds shall be expended to construct major arterial trans- <br />portation facilities which accomplish the purposes of the San <br />Joaquin Hills Transportation Corridor, to the extent legally <br />possible. <br />-26- <br />
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