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I I I I I I I I I I I I I I I I I I I II"" 4.5 Bonds of Officers: The Treasurer and any other officer or agent of the Authority charged with the responsibility for the custody of any of its funds or property shall give bond in such sum and with such surety as the Board of Directors shall determine. The Board of Directors, in its discretion, may also require any other officer, agent or employee of the Authority to give bond in such amount and with such surety as shall be determined. The cost of such bond shall be an expense payable by the Authority. 5. Indemnification of Officers, Directors and Em- ployees. 5.1 Directors and Officers: Each Director and officer of the Authority, whether or not then in office, and his personal representatives, shall be indemnified by the Authority against all costs and expenses actually and necessarily incurred by him in connection with the defense of any action, suit or-proceeding in which he may be involved or to which he may be made a party by reason of his being, or having been, such Director or officer, except in relation to matters as to which he shall be finally adjudged in such action, suit or pro- ceeding to be liable for willful negligence or mis- conduct in the performance of his duties. Such costs and expenses shall include amounts reasonably paid in settlement for the purpose of curtailing the cost of litigation, but only if the Authority is advised in writing by its counsel that in his opinion the person indemnified did not commit such willful negligence or misconduct. The foregoing right of indemnif~cation shall not be exclusive of other righes to wh~ch he may be entitled as a matter of law or by agreement. 5.2 Employees: Employees will be indemnified pursuant to the provisions of the Governmental Immunity Act, Section 24-10-101, et seq., C.R.S., as amended. 6. Assets Held in Trust. All assets and properties of the Authority shall be held in trust for the purposes herein mentioned, in~ eluding the payment of liabilities of the Authority. , , 7. Adding or Deleting Parties. No party may be added to this contract as a Con- tracting Party without the unanimous consent of all Con- tracting Parties authorized by a written document formally approved by the governing body of each Contracting Party. A party added as a Contracting Party shall be subject to such terms and conditions as the Board of Directors, in its sole discretion, may determine, provided, however, that a new Contracting party shall be assessed a capital investment fee to cover its pro rata share of the costs of those capital assets previously purchased or constructed by the Authority for joint use by all Contracting Parties. A Contracting Party may withdraw from this Agreement by written document authorized by the governing body of such Contracting Party, which shall be presented to the Authority not earlier than June 1st or later than July 15th of any calendar year; pro- vided, however, such withdrawing Contracting Party shall remain liable for any and all financial obl,igations, and all indebtedness incurred, pursuant to the Service Contract, ~ . 8