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CENTENNLAL FIRE DISTRICT <br /> JOINT POWERS AGREEMENT <br /> SECTION V <br /> FIRE EQUIPMENT, LAND AND BUILDINGS <br /> 5.1 A. Equipment. Each of the municipalities to this agreement has contributed to the <br /> District for its use and benefit the municipalities existing firefighting apparatus and <br /> equipment. The Committee shall control the use of such contributed equipment. <br /> The ownership of such equipment shall be retained by the municipality donating <br /> same. All expenses relating to the maintenance and repair of such equipment shall <br /> be an operating expense of the District. In addition, the parties hereto have <br /> submitted a list of all items of personal property that were initially contributed to <br /> the District, its value at the time of the commencement of use by the District, its <br /> anticipated salvage value at the time of expiration of this agreement or date of <br /> obsolescence whichever is earlier, and the annual depreciation expense based upon <br /> a straight line method- <br /> 5. 111, Land and Buildings. Each of the municipalities to this Agreement has contributed <br /> to the District for the use and benefit the municipalities existing and future <br /> buildings and land. The Committee shall control use of the buildings and land. <br /> The ownership of such buildings and land shall be retained by the municipality <br /> donating same. All expenses relating to the maintenance and repair of land and <br /> buildings are an expense of the District. All costs for construction and capital <br /> improvements are the responsibility of the member municipality which owns the <br /> buildings and land. Maintenance, repair, construction and capital improvements <br /> shall be defined as per Internal Revenue Service Publication 17, Repairs and <br /> Improvements. <br /> 52 Purchase of Equipment. The purchase of capital equipment which is equipment <br /> with a value in excess of $5,000 (capital equipment), shall only be done by mutual <br /> agreement of all member municipalities. The Fire Chief shall, as part of the budget <br /> process as outlined in Section VIII of this Agreement, list the proposed capital <br /> equipment to be purchased in the budget year. The proposed purchase of capital <br /> equipment will follow the same schedule and time deadlines, as indicated in the <br /> budget process. If, by June 1st of the year preceding the year the capital <br /> equipment is projected to be purchased, the municipalities have not unanimously <br /> agreed on the purchase of any specific piece of capital equipment, that specific <br /> piece of equipment will not be purchased by the District. <br /> 53 Ownership. New and used equipment purchased by the District after the effective <br /> date of the original Joint Powers Agreement (1 -1 -85) shall be owned by the <br /> District. The District Chief shall conduct an equipment appraisal annually and <br /> present such information to each member municipality. <br /> 5A All equipment controlled by the District shall be used when needed within the boundaries <br /> of the District for the benefit of the member municipalities. They should not be used <br /> outside the District, except as follows: <br /> Page # 6 <br />