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