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City will include the land acquisition costs in the financing and each City will be repaid via the financing proceeds for their portion of the land acquisition. If the Station is not constructed in the time frame that is necessary to include the property acquisition costs as part of the financing, each city will be responsible for their proportionate share of the property acquisition costs in accordance with the cost share formula in effect at the time. 2.4 Bond repayment. The bond issue will be repaid through annual appropriations by each City consistent with the cost share formula calculated and adjusted annually to account for growth and development in each City. 2.3 Matching Funds for Construction Costs. Each City will be responsible for issuing a bond or otherwise providing cash financing in the amount of such City’s share (pursuant to paragraph 2.2) of the matching funds required for the $6,370,000 grant from the State of Minnesota contained in Minnesota Laws of 2023 Regular Session, Article 1, Section 9, Subdivision 14. 2.52.4 Station Construction. Station construction will begin upon unanimous vote of the Board. However, said construction shall begin no later than June 30, 2026, unless an alternative date is unanimously agreed upon by the Board. 2.62.5 Development Approvals. The City of Arden Hills will review the proposed project as part of its normal development process. 2.6 Termination.The Joint Powers Agreement shall be terminated upon the occurrence of any of the following: 2.6.1 No Project Construction. If the Project does not move forward and the Project is not constructed pursuant to paragraph 2.4, the City of Arden Hills will have the option to reimburse the other Cities and the Lake Johanna Fire Department for their direct cost to acquire the Property and any costs associated with the Project, and take ownership of the Property. This option must be exercised within ninety (90) days after expiration of the construction commencement date in paragraph 2.4. Closing on this option must occur within one hundred twenty (120) days of the date on which notice is given by the City of Arden Hills to the Board that it is exercising the option. 2.6.2 Arden Hills not Served by Lake Johanna Fire Department.Should the Lake Johanna Fire Department no longer serve the City of Arden Hills or no longer use, or occupy the Property, or otherwise cease to operate in the fire station, then the fire station, at the discretion of the Board, may be used by a successor organization that provides fire protection to all the citiesCities. Should no acceptable successor organization be identified, the City of Arden Hills will have the option to reimburse the other two cities, ShoreviewCities and North Oaks,the Lake Johanna Fire Department for their respective