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for special districts under section 26909 of the Government <br />Code and ~he audit shall conform to generally accepted <br />auditing standards. <br /> <br /> 12. DISPOSITION OF AUTHORITY FUNDS UPON TERMINATION <br /> <br /> a. In the event of termination of the Authority <br /> <br />where there is a successor public entity which will carry on <br />the activities of.the Authority and assume its obligations, <br />Authority funds, including any interest earned on deposits, <br />remaining upon termination of the Authority and after <br />payment of all obligations shall be transferred to the <br />successor public entity. <br /> <br /> b. If there is no successor public entity which <br />would carry on any of the activities of the Authority or <br />assume any of its obligations, Authority funds, including <br />any interest earned on deposits, remaining upon termination <br />of the Authority and after payment of all obligations, shall <br />be returned in proportion to the contribution of each Agency <br />during the term of this Agreement. <br /> <br /> c. If there is a successor public agency which <br />would undertake some of the functions of the Authority and <br />assume some of its obligations, Authority funds, including <br />any interest earned on deposits, remaining upon termination <br />of the Authority and after payment of all obligations, shall <br />be allocated by the Board between the successor public <br />entity and member agencies. <br /> <br />17. <br /> <br /> <br />