1982-115 - Laserfiche WebLink

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be under the control or auspices of the County Library Adivsory Board. 6. OWNERSHIP OF LIBRARY ASSETS UPON DISSOLUTION OF A PARTICIPATING LIBRARY: In the event of dissolution of a • participating library during the term of this agreement, where such library is not simultaneously reestablished to provide lihrary1se-•-ces, each participaLing library agrees to distribute, convey, transfer, or assign to the County all of the assets, personal property, equipment, books, subscriptions, and any other materials, resources, or items used in the operation of its library, which are attributable to the funds allocated or expended during the term of this agreement, to be used exclusively by the County or its designate for the continuation of library services within Indian River County. 7, PUBLIC FUNDING PROVISION: For fiscal year 1982-83, the County agrees to allocate the following dollar amounts for each of the participatinq libraries to be expended only for library operations in accordance with this agreement: A. Indian River Library Association, Inc. --the sum of ONE HUNDRED THOUSAND DOLLARS ($100,000.00), together with the first FIFTEEN THOUSAND DOLLARS ($15,000.00) of state or federal grant monies received by the County for allocation to she participating libraries, plus two-thirds (2/3) of any amount of said state or federal monies received by the County in axcess of the first FIFTEEN THOUSAND DOLLARS ($15,000.00). B. Sebastian River Library Association, Inc. --the sum of FIFTY -?FIVE THOUSAND DOLLARS ($55,000.00), together with one-third (1/3) of state or federal grant monies received by the County for allocation to the participating libraries which is in excess of the FIFTEEN THOUSAND DOLLARS ($15,000.00) allocated to the Indian River Library Association, Inc., in subparagraph 6A above. C. Unless agreed otherwise by the County and the party concerned, funds allocated hereunder shall be made available to a participating library in twelve equal monthly installments. 8. AMENDMENT OR REVISION OF AGREEMENT: This agreement may be modified or amended in part, or in whole, including amendment to allow for additional participating library groups to join the library unit, only upon the execution by all parties of a written amendment hereto. 9. COVENANTS: The covenants contained herein exist only during the term of this agreement. -4-