Laserfiche WebLink
possession of any monetary assets from any predecessor agencies, ACTC shall appoint a finance <br />manager, chief financial officer or similar employee of ACTC to be the depositary and to have <br />custody of all funds from whatever. source, and to comply with the duties and responsibilities of <br />the offices of treasurer and auditor as set forth in subdivisions (a) to (d), inclusive, of Section <br />6505.5. <br />There shall be strict accountability of all funds and the designated employee shall report <br />to the ACTC Board all receipts and disbursements. In addition, the ACTC Board shall contract <br />for an audit of the accounts and records at least annually as prescribed by section 6505 of the <br />Government Code. In each case the minimum requirements of the audit shall be those prescribed <br />by the State Controller for special districts under section 26909 of the Government Code and the <br />audit shall conform to generally accepted auditing standards. <br />16. DISPOSITION OF ACTC FUNDS UPON TERMINATION. <br />(a) In the event of termination of the ACTC where there is a successor public <br />entity which will carry on the activities of the ACTC and assume its obligations, ACTC funds, <br />including any interest earned on deposits, remaining upon termination of the ACTC and after <br />payments of all obligations shall be transferred to the successor public entity. <br />(b) If there is no successor public entity which would carry on any of the <br />activities of the ACTC or assume any of its obligations, ACTC funds, including any interest <br />earned on deposits, remaining upon termination of the ACTC and after payment of all <br />obligations, shall be returned in proportion to the contribution of each local jurisdiction during <br />the term of this Agreement. <br />17. PROCEDURE FOR BECOMING A SIGNATORY TO THIS <br />AGREEMENT. Cities incorporated and transit agencies established after the effective date of <br />this Agreement may become signatories to this Agreement by petition to the ACTC Board. <br />18. SPECIAL PROVISIONS. The signatories to this Agreement desire to continue <br />levying a fee for the purpose of defraying the cost of preparing, maintaining, administering and <br />implementing the Congestion Management Program, the Countywide Transportation Plan and <br />other funCtions of the ACCMA. Therefore, by their signatures hereon, the signatories delegate to <br />the ACTC the power to levy such a fee upon the signatories for the purpose of defraying the <br />costs of preparing, maintaining, administering and implementing the Congestion Management <br />Program and other duties of the ACTC as specified in this Agreement. It is presumed that such <br />fees will be paid from fuel tax subventions to local government, and/or any other funds available <br />for the purpose. If a portion of all of the fees is to be paid from fuel tax subventions, the ACTC <br />may request the State Controller to subvene those fees directly to the ACTC. <br />If fees are levied against Local Agencies, such fees shall be assigned based on the <br />proportion the Local Agency's Proposition 111 fuel tax subventions bear to the total of <br />Proposition 111 fuel tax subventions for all Local Agencies. If fees are levied against the <br />Member Transit Operators, such fees shall be assigned to each Member Transit Operator <br />according to an equitable formula. <br />Failure to provide its share of the adopted fee to the ACTC shall be deemed to constitute <br />000230.0026\1453006.5 9