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records to be conducted by a certified public accountant or public <br />accountant. This independent audit shall comply with the <br />requirements of section 6505 of the Government Code as it now <br />exists or as it may be amended from time to time. Tn each case tno <br />minimum requirements of the audit shall be those prescribed by the <br />State Controller for speoial districts under section 26909 of the <br />' Government Code as it now exists•or as it may be amended Prom time <br />to time. The audit shall conform to generally accepted auditing <br />standards. <br />10. DTSPOSTTION O1t.AUTH022TTY FUNDS UPON TERi2TNA TON <br />• a. Tn the .event of termination of the .Authority whore <br />there is a successor public entity which will carry 'on the . <br />activities of the Authority and assume its obligations, Authority ' <br />funds, including any interest earned an deposits, remaining upon <br />termination of the Authority and after payment of a1I obligations <br />shall be transferred to the successor public entity. <br />b. If there is no successor public entity which would ' <br />caul. on any of the activities of the Authority or assume any of <br />its obligations, Authority ;funds, including any interest narned on <br />deposits, remaining upon termination of the Authority and after . <br />payment of all obligations, shad be returned in proportion to the <br />contribution of each Agency during the term of this Agreement. <br />c. If there is a successor pubYie agency which wouid~. <br />undertake some of the functions of the Authority and assume some <br />its obligations, Authority funds, including any interest earned on <br />deposits, remaining upon termination of the Authority and after <br />a 15 <br />Ll 'd 66LL'ON Sti113~31 1X3N WdOil ili;T7.7'aa~ <br />