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<br />Revenue Bond payment history and payment projections to the end of bond repayment. <br />13.8 Bond Management. The SBWMA shall periodically consider defeasing the <br />Revenue Bonds and refinancing any existing debt to the economic benefit of the Members, as <br />market conditions allow. <br />13.9 Bond Reserves. The SBWMA shall maintain at least the minimum reserve fund <br />requirements specified in the Revenue Bond covenants. <br />13.10 Asset Reserves. The SBWMA shall establish and maintain an asset replacement <br />reserve fund at a level at least adequate to finance appropriate and ordinary asset replacement at <br />the Facilities. <br />13.11 Annual Inspection. At least annually, the SBWMA shall inspect or cause to be <br />inspected by a qualified and licensed civil engineer all of its Facilities including all property, <br />land, equipment, and other items owned by the SBWMA. <br />13.12 Attributing Solid Waste. The SBWMA shall establish a fair and equitable <br />method of attributing Solid Waste, Recyclable Materials, and Plant Materials to the Members <br />that are delivered to the Facilities. <br />13.13 Miscellaneous. The SBWMA may operate programs, conduct analyses, and <br />perform studies from time to time, all in support of the purposes under this Agreement, as the <br />Board so approves. <br />13.14 Member Cooperation. Members agree to cooperate in the accumulation of <br />information supporting goals approved by the Board, as provided in this Agreement. <br /> <br />ARTICLE 14. PENALTIES <br />14.1 Apportionment of Penalties. Any penalties assessed by regulatory authorities <br />against the SBWMA shall be paid by the SBWMA. <br /> <br />ARTICLE 15. WITHDRAWAL FROM SBWMA <br />15.1 Withdrawal Conditions. A Member may not withdraw from the SBWMA <br />unless and until that Member achieves the following: <br />a. The liquidation in full of its proportion of any and all existing debts <br />obligations, and liabilities incurred, earned, or expected to be earned by the <br />date of withdrawal, including but not limited to the Revenue Bonds, as <br />determined by the Board. <br />b. The provision to the SBWMA of a written notice of intent to withdraw from <br />the SBWMA at least six (6) months prior to the end of the current Rate Year, <br />specifying the date on which the Member intends to withdraw. <br />c. The approval of such withdrawal by a four fifths (4/5) affirmative vote of <br />Equity Members. <br /> <br />ARTICLE 16. TERMINATION <br />16.1 Termination Requirements. This Agreement may only be terminated by <br />consent of all Equity Members, and upon full and complete liquidation of all liabilities, <br />including, but not limited to, the Revenue Bonds. Upon the date of termination (hereinafter <br />“Termination Date”), payment of any and all obligations and division of any and all assets of the <br />SBWMA shall be conducted subject to the then-applicable requirements of the law (currently <br />California Government Code §6511 et seq.), pursuant to the following: <br />a. In the event of termination of the SBWMA where there is a successor public