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2.3 The City shall transfer all non -email records belonging to the TPMPD to the <br />TPMPD on or before December 31, 2014, at which time the TPMPD shall become the <br />designated custodian of said records. As the designated custodian of TPMPD records, the <br />TPMPD shall be responsible for compliance with all legal requirements relating to public <br />records, including, but not limited to, records retention and destruction. The TPMPD agrees to <br />retain and destroy all public records pursuant to this agreement consistent with the applicable <br />provisions of Chapter 40.14 RCW, the applicable rules and regulations of the Secretary of State, <br />Division of Archives and Records Management. <br />Section 3. TPMPD Finances. <br />3.1. The Parties acknowledge that the City Finance Director has acted as Treasurer for <br />the TPMPD since 2011. The City Finance Director shall transition out of this role on or before <br />December 31, 2014; however, the City Finance Department's expertise and records will be <br />needed to complete the 2014 End of Year Audit (EOY Audit) and to close the TPMPD's <br />financial books for 2014, which will not occur until early 2015. <br />3.2. The TPMPD agrees to pay the City for providing the services set forth in Section <br />3.1 above based on the hourly wages and benefits of City staff and their time spent providing <br />these services. The City shall provide the TPMPD with an itemized invoice identifying the basis <br />for the staff cost, the time spent, and the activities performed. <br />3.3. On or before December 31, 2014, the City will transfer excess TPMPD funds to <br />the TPMPD. For purposes of this Section, "excess" shall mean any funds not needed for known <br />TPMPD expenses that have not been paid yet. However, the exact amount of TPMPD funds will <br />not be known until all 2014 deposits have cleared and all invoices have been paid. The City will <br />conduct a second transfer of all outstanding TPMPD funds to the TPMPD as soon as all 2014 <br />deposits have cleared and all 2014 invoices have been paid. <br />3.4. Any 2014 invoices that are the responsibility of the TPMPD and that are received <br />by the City after December 31, 2014, shall be transferred to the TPMPD for payment and <br />payment of such invoices shall be the responsibility of the TPMPD. <br />Section 4. City Policies, Procedures, Templates, and Lessons Programs. <br />4.1. The City agrees that the TPMPD may adapt and /or utilize any City policies, <br />procedures, templates, or lessons programs created by the City. <br />Section 5. Miscellaneous. <br />5.1 Term of Agreement. This Agreement shall take effect as of the date first written <br />above and shall continue until terminated by mutual agreement of the Parties. <br />5.2 Binding Effect; Assignment; Third Party Beneficiaries. Neither Party may assign <br />its interest or obligation under this Agreement without the prior written consent of the other <br />Party. This Agreement shall inure to the benefit of and shall bind the respective assignees. <br />There are no other third party beneficiaries of this Agreement, and its terms are not intended to <br />