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8.A. - Page 40 <br /> 1314 Member Cooperation. Members agree to cooperate in the accumulation of <br /> information supporting goals approved by the Board, as provided in this Agreement. <br /> ARTICLE 14.PENALTIES <br /> 141 Apportionment of Penalties. Any penalties assessed by regulatory authorities <br /> against the SBWMA shall be paid by the SBWMA. <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 liquida�ion 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 4/5 affirmative vote of Equity <br /> Members. <br /> ARTICLE 16. TERMINATION <br /> 161 Termination Requirements. This Agreement may only be terminated by consent <br /> of all Equity Members, and upon full and complete liquidation of all liabilities, including, but not <br /> limited to, the Revenue Bonds. Upon the date of termination (hereinafter "Termination Date"), <br /> payment of any and all obligations and division of any and all assets of the SBWMA shall be <br /> conducted subject to the then-applicable requirements of the law (currently California <br /> 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 <br /> entity that will conduct all of the activities of the SBWMA and will assume all <br /> of its obligations, any and all SBWMA assets and liabilities remaining upon <br /> termination of the SBWMA shall be transferred to the successor public <br /> agency. <br /> b. If there is no successor public agency that would conduct the SBWMA's <br /> activities, all assets and liabilities shall be apportioned to each Member in <br /> proportion to the contribution of each current Member's ratepayers' total <br /> contribution during the Term of this Agreement. A reference to ratepayers' <br /> contribution means payment of Collection fees under each jurisdiction's <br /> respective Uniform Franchise Agreement. <br /> c. If there is a successor public agency that would conduct some of the <br /> SBWMA's activities, then the Board shall allocate the SBWMA's assets and <br /> liabilities between the successor public agency and the Members. In this case, <br /> the Members' portion of the allocation shall be allocated based on Section <br /> 161(b). <br /> Page ll of 23 <br />