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<br />such staff or contractors shall be deemed as employed by, or under <br /> <br />contract to, the Authority; and will serve at the pleasure of the <br /> <br />Supervisory Committee. <br /> <br />9. Budget. Annually, the Supervisory Committee shall <br />prepare an operating budget for the Authority setting forth <br /> <br />anticipated expenses, financing sources and proposed service <br /> <br />levels necessary to carry out the purposes of this agreement and <br /> <br />the TSM ordinances. The Committee shall recommend the budget to <br /> <br />the Board of Directors for approval and, upon approval, <br /> <br />transmittal to the city councils. The budget shall be deemed <br /> <br />approved after each participating city approves it. In the event <br /> <br />that the budget is not approved prior to the beginning of the <br /> <br />fiscal year the level of expenditures for the preceding year shall <br /> <br />remain in force and effect. <br /> <br />10. Treasurer and Controller. The supervisory Committee <br /> <br />shall select, subject to confirmation by the Board of Directors, <br /> <br />the Treasurer of a participating city to serve as Treasurer of the <br /> <br />Authority. The Controller of the same city shall serve as Auditor <br /> <br />and Controller of the Authority. In performing the <br /> <br />responsibilities of these offices for the Authority, the Treasurer <br /> <br />and the Auditor and Controller shall comply with the requirements <br /> <br />of Sections 6505 and 6505.5, Government Code. <br /> <br />11. Withdrawal. Any participating city may withdraw from <br />this'agreement by filing written notice of intention to do so with <br /> <br />the other cities. Termination will take place on July 1 of any <br /> <br />year, provided there is at least six months advance notice. The <br /> <br />2943G <br /> <br />-5- <br /> <br />1, 0' C'I <br />~-cJ <br />