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12/02.'98 17:45 CIRCLE PINES —LEXINGTON Pa -ICE 4 612 429 8629 tpli <br /> SEW BY: it -30-08 : 12 44 Anoka County Arty- 612 765 1d59001Ui1L3 <br /> Araks County Ccmme[ No. JT <br /> wll; be binding as against such party. Each City represents that its share of the Capital Costs <br /> described above does not exceed 0,23% of the market value of taxable property in such City, and <br /> does no: cause the City's debt limit to be exceeded, The County hereby represents that the <br /> System :as a useful life at Ieast equal to the term of the Notes, and that the issuance of the Notes <br /> does not cause the County's debt Iimit to be exceeded. <br /> SECTION FIVE <br /> DISTRIBUTION OF PROPERTY <br /> Upon the disposition of any part of the City Equipment provided as part of he System, <br /> ;he disposition proceeds will be the property of the applicable City. Upon the disposition of any <br /> other part of the System, the disposition proceeds shall be shared in =Orddnce with the <br /> following percentages: <br /> County q <br /> Anoka % <br /> Blaine % <br /> Circle Pines and Lexington (jointly; % <br /> Columbia Heights % <br /> Coon Rapids <br /> Fridley 9� <br /> Lino Lakes <br /> Ramsey 90 <br /> St. Francis and Bethel (jointly) % <br /> Spring Lake Park % <br /> Any other surplus funds arising as a result of this Agreement after the purpose of this Agreement <br /> has been completed shall be shared it, the same percentages. <br /> -5- <br />