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• • <br /> Feasibility Report, should be required only to pay the costs associated <br /> with the Feasibility Study, <br /> NOW, THEREFORE, the City Council of the City of the Town of Los <br /> Altos Hills hereby recommends and urges the respective governing <br /> boardsof the members of the Authority to amend Subsection 3 of <br /> Section B, entitled "Termination by a Party" of Article IV, entitled <br /> "Term of Agreement" to read as follows: <br /> 3. Any party so terminating shall be obligated to pay <br /> all encumberances and indebtedness owed by it to <br /> the Authority as of the date of termination as a <br /> condition precedent to such termination and withdrawal; <br /> provided, however, that this obligation shall not <br /> extend to indebtedness of the Authority or any non- <br /> profit corporation created by the Authority and <br /> secured by contracts with member PARTIES unless so <br /> specified in such contract. Provided, further, any <br /> Party who withdraws within sixty (60) days of the <br /> Board' s acceptance of the "Project Feasibility <br /> Report" described above shall be obligated only to <br /> pay its share of the costs associated with the <br /> Project Feasibility Study, and no other costs. <br /> BE IT FURTHER RESOLVED, that the City Clerk of the City of the <br /> Town of Los Altos Hills is hereby directed and ordered to transmit <br /> -2- <br />