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FULL PACKET_2012-02-21
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FULL PACKET_2012-02-21
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7/22/2016 3:43:24 PM
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2/27/2012 1:04:26 PM
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City Clerk
Agency
Clerk of the Council
Date
2/21/2012
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T. Negotiation of Terms Upon Notice of Withdrawal. Upon providing notice <br />of withdrawal, a cash contract City may negotiate with the Authority regarding <br />modifications to its payment obligation. If the City and the Authority are unable to reach <br />agreement regarding modified payment terms, the balance of any shortfall that may <br />have accumulated during a City's ten -year period of membership shall be paid upon <br />withdrawal." <br />8. Article Vll, Section 3 is amended to read as follows: <br />"3. Withdrawal of County. County shall be a member of the Authority <br />for a term of twenty years beginning on July 1, 2010 and continuing to June 30, 2030. <br />Said term shall automatically renew for successive terms in accordance with and <br />subject to the same provisions and exceptions applicable to Cities in Section 1.13. and <br />C. In the event of withdrawal, the County shall remain liable for payment of the <br />Structural Fire Fund's proportional share of any bonded indebtedness of the Authority <br />incurred prior to the date of its withdrawal." <br />9. All terms and conditions contained in this Amendment are incorporated by <br />this reference into the Agreement. This Amendment modifies the Agreement only as <br />expressly set forth above. This Amendment does not modify, alter, or amend the <br />Agreement in any other way whatsoever. <br />9 <br />554584.1 <br />60C -53 <br />
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