(A) Each of the eligible entities, City of Decatur and the county, respectively, by adoption of this subchapter, in consideration of the mutuality thereof and the mutual benefits to be derived therefrom, agree to the terms hereof, and the same shall for all purposes be considered as a legal and binding contract, which cannot be modified, amended, or revoked by the unilateral action of either entity.
(B) In the event either entity desires to abandon the joint enterprise to be undertaken hereby, then and in that event, the other entity shall have the right to carry on the same and all right, title, and interest of the abandoning entity shall terminate, transfer to, and inure to the benefit of the surviving entity at no cost whatsoever. Such abandonment shall constitute a forfeiture by the abandoning entity of all of its right, title, and interest in and to all property and interests in property owned by the Joint Authority, which shall be thereupon and thereby transferred to the surviving entity, with no consideration therefor paid by the survivor entity to the abandoning entity.
(Council Ord. 1987-5, passed 4-14-1987)