Debt Obligation. The withdrawing Member will not be obligated to continue its portion of the payment for any UPD debt related to the acquisition of equipment, however, it will not have any property right to any such vehicles and equipment in the precinct(s) serving the withdrawing Member except as provided for above. Except as required to meet statutory and audit requirements for the UPD and meet any outstanding financial obligation incurred by the Member to the UPD, a departing Member is entitled to take its Precinct Fund Balance upon departure. Any Precinct Fund Balance owed to a departing Member will be paid by the UPD after the next fiscal year audit.
Appears in 3 contracts
Samples: Interlocal Cooperation Agreement, Interlocal Cooperation Agreement, Interlocal Cooperation Agreement
