1990 - 11-19-90 Regular Meeting - Laserfiche WebLink

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300 13 r~,~T '~o by the County. The Fire Department shall maintain a written accounting system which provides adequate documentation of all of its receipts and disbursements including those related to the funds subject to this agreement. The Fire Department further agrees to subject itself to the provisions of Article 33C of Chapter 143 of the North Carolina General Statutes, entitled "Meetings of Public Bodies" to the same extent as the County, for the annual meeting and meetings related to financial matters of the Department. 8. The Fire Department shall have available an audit report performed annually by a certified public accountant of all its funds, and as soon as such auditor's report becomes available to the Fire Department, a copy shall be submitted to the County Finance officer. 9. In the event of dissolution of the Fire Department, or the Fire Department's failure to continue to render the protection and services to the District as provided in this agreement, the Fire Department agrees that it will convey to the County or to such successor organization as the County may designate all of the assets of the Fire Department subject to any liens against said property, to be used for providing fire protection within the District or as otherwise provided by law. 10. The Fire Department further agrees to file with the County Finance Officer a true copy of its Articles of Incorporation, existing By-laws, and any changes made thereto from time to time. In addition to meeting all minimum legal requirements for non-profit corporations under the laws of the State of North Carolina, the Fire Department agrees to adopt and keep in force By-laws which contain reasonable provisions enabling residents and owners of property within the District to participate in the affairs of the corporation by periodic selection of directors vested with the authority to actively manage the affairs of the corporation. 11. The Fire Department shall use the funds subject to this agreement in accordance with the annual Budget of the funds which is approved and adopted by the Board of Commissioners, which is incorporated automatically herein by reference each year. No change or alteration in the amount of the total Budget may be made without the express approval of the Board of Commissioners. The Fire Department shall discharge its obligations in a timely manner.