77-065 - Laserfiche WebLink

Home Browse Search

. The compensation paid by City to Department during calendar year 1976 was the sum of $79,818. The percentage increase (i.e., 11.63%) multiplied by the compensation paid to Department in the previous calendar year (i.e., $79,818), yields a dollar increase of $9,282. The compensation thus to be paid by City to Department for the period July 1, 1977 to June 30, 1978 is $89,100, determined by adding the dollar increase of $9,282 to the compensation paid to Department in calendar year 1976. C. Formulae for Ca1cu1atin Com ensation for Four 4 Remainin Twelve 12 Month Periods of Contract Term. On or before July 1, 198 and each July 1 thereafter during the term of this Contract, the parties hereto shall calculate the amount of compensation to be paid to Department for the next succeeding twelve (12) month period beginning with July 1, on or before which the calculation is made, on the basis of the formulae set forth herein below. For the purposes hereof, "FTMV Prev Yr" shall mean the total, full-and-true market value of all taxable and tax exempt real estate parcels within the fire service area, as estimated by the Ramsey County Department of Property Taxation on or before June 30 of the previous year, and "FTMV Curr Yr" shall mean the total, full-and- true market value of all taxable and tax exempt real estate parcels within the same area as estimated by the Ramsey County Department of Property Taxation on or before June 30 of the current year. 1. Formula for Calculating Percentage Increase or Decrease. FTMV Curr Yr -FTMV Prev Yr = % Increase or Decrease FTMV Prev Yr 2. Formula for Calculating Dollar Increase or Decrease. Previous Year's Compensation x Percentage Increase or Decrease = Dollar Increase or Decrease 3. Formula for Calculating Compensation for Next Succeeding Twelve (12) Months' Period, Commencing July 1. Previous Year's Compensation + Dollar Increase (or-Dollar Decrease)= Compensation fOr Next Succeeding Twelve (12) Months' Period, Commencing July 1 of Current Year . D. Com ensation Pa ment Dates And Amounts. The compensation payable to Department for each of the five 5 twelve (12) month periOdS of the Contract term, as determined pursuant to sections 19(8) and 19(C) shall be payable by City in two (2) equal installments of one-half (~) of said compensation due for that period on or before July 15 of the year in which the period commences and on or before January 15 of the year in which the periOd ends. E. Allocation of Each Municipality's Share of Compensation. The manner of allocating the cost of fire protection services which are incurred pursuant to the terms of this contract shall be computed by the provisions of the Joint Powers Agreement between the cities of Shoreview, Arden Hills and North Oaks. Each of the three cities shall only be responsible for its share of the total fire protection cost as determined by the cost allocation formula in said Joint Powers Agreement.