Laserfiche WebLink
h.(A)Distribution of Assets Upon Dissolution. <br />If NYFS ceases to operate, the Board of Directors will do one of the <br />following: <br />i.Give the assets to one or more non-profit agencies providing similar <br />social services in the northern suburbs of Ramsey and Washington <br />County; or, <br />ii.Form a new Foundation to fund appropriate social service <br />programming in the northern suburbs of Ramsey and Washington <br />County. <br />The final Distribution of Assets Plan must be approved by the Ramsey <br />County District Court. <br />(B) Deviation from the Mission. <br />If the City Council determines that NYFS has materially deviated from its <br />mission (See II. Recitals, A.), the City Council may ask the NYFS Board of <br />Directors to consider dissolving the agency and liquidating the assets. <br />The Board will do one of the following: <br />iii.Consider the request and by a majority vote deny it. <br />iv. Consider the request and by a majority vote agree to modify the <br />programs to be consistent with the mission. <br />v. Consider the request and by a majority vote agree with the request <br />and move to dissolve the agency and liquidate the assets. <br />IN WITNESS WHEREOF, the parties have executed this Agreement on this date <br />set forth below. <br />MUNICIPALITY <br />City of Hugo <br />By: ______________________________ <br /> Elected Official <br />Its: ______________________________ <br /> Clerk/Manager/Administrator <br />Dated: ______________________________