Dissolution Provisions. In the event that a sufficient number of participating districts are of the opinion that the Cooperative is not meeting the intended goals of providing safe, economical transportation for all public school pupils residing with the boundaries of each participating district, they may mutually agree to dissolve the program. If such dissolvement should occur, capital investment and equipment owned by the cooperative shall revert to the participating districts at the same pro rata share as the districts are providing revenue on the last year of operation. In the event of dissolution, the Cooperative's maintenance facility shall remain the possession of the Woodland School District, and shall not be considered in the calculation of Woodland's pro rata share of capital investment and equipment. The Paradise Point facility is an asset of the KWRL non-profit corporation and will be considered similarly to buses and equipment thereby owned and liquidated on a pro rata share of the member districts.
Appears in 4 contracts
Samples: Cooperative Agreement, Cooperative Agreement, Cooperative Agreement
