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in the City's adopted budgets for future fiscal years. The fiscal year for the City extends from <br />October 1 st of each calendar year to September 30th of the following calendar year. <br />C. Termination. <br />1. Termination by City. The City reserves the right to terminate this <br />Agreement upon 30 days' written notice for any reason deemed by the City Council to <br />serve the public interest. . In the event of such termination the City will pay the <br />Corporation those costs directly attributable to services received by the City in <br />compliance with the Agreement prior to termination. The City will not be liable for any <br />damages or any loss of profits anticipated to be made by the Corporation under this <br />Agreement in connection with any such termination. <br />2. Termination by Corporation. The Corporation may terminate this <br />Agreement based on default by the City if the City fails to comply with any term or <br />condition of this Agreement. The Corporation will notify the City in writing of any <br />default. The City will take action so that the default is corrected within 15 days of receipt <br />of the notice. If the City fails to timely correct the default, the Corporation may <br />immediately tenninate this Agreement in its entirety. <br />D. Dissolution of Corporation. Upon dissolution of the Corporation, after <br />the payment of all debts and obligations of the Corporation, the assets of the Corporation shall <br />be distributed to one or more exempt organizations under SECTIONS S 10 (c) (6) AND 170 (c) (2) <br />OF THE INTERNAL REVENUE CODE as amended, or any successor provisions, or to the federal, <br />state or local government for lawful purposes. To the extent allowed under said provisions of <br />the Internal Revenue Code and applicable laws, such distribution shall be as follows: <br />1. Contributed property shall be offered to the member entity that contributed <br />such property; <br />7 <br />