2004-12-08 Handouts - Laserfiche WebLink

Home Browse Search

I "-___ _ ___ _ ___ ____ ____ _ _ ____h_ h _ _ __ _h_h_ __ _ __ _ ____h___ __ h___ __ _ _ _ __ ___ __._ _ _ __ _ _ _ __ __h_ _h _ h _ ___ _ ___h____ ___ ________ _h_ ___ _ _ __ ___ _ - - --l~.?~_~~: No under~I2~..._......_.___....J SECTION XIII DURATION, DISSOLUTION OF THE AGREEMENT 13.1 Dissolution. This Agreement shall remain in full force and effect until ill10fthe member /' - ~eted:-a-;;;;;j;;;:;-;---'._--'---l cities' councils have voted in favor of dissolution. --------------.---~--.-- '--.------.-.--~--------.-..I 13.2 Dissolution Payments. Upon dissolution, each member city shall continue payments and operate as a full participant, under this Agreement for a one (1) year period, so that dissolution can occur in an orderly fashion. SECTION XIV DISTRIBUTION OF EQUIPMENT UPON TERMINATION OR DISSOLUTION 14.1 Process. a) Upon dissolution or termination from this Agreement by a member, or members, the following procedure shall be used to distribute the equipment and personal property of the Department, and other related equipment. Distribution will occur only after all Department debts and long term expenses have been satisfied. b) All property and equipment will be sold. . c) In addition, the financial records of the Department will be reviewed for the life ofthe agreement or for the last 15 years, whichever is less, to determine the total dollar value of contributed equipment and other payments made by each member city. The Governing Board will then determine the percentage of the total paid by each member city. The percentage of the total contributions over the applicable period will then be multiplied times the total dollars arrived at by sale of all equipment and personal property ofthe Department less any debts, and then distributed to the cites. If a deficit occurs the member cities will contribute sufficient dollars to eliminate any deficits utilizing the same percentage of contributions indicated above. d) Building disposal ofthe police headquarters in Circle Pines will be appraised. determining the estimated value of the land and ofthe building. The building and land will be offered to the City of Circle Pines at the appraised price. Tfthe City of Circle Pines declines to purchase the buildiillz. it will be s'old. After the sale the member cities will receive their percentage share of the proceeds as determined by the following formula: - -l!or~_att:~=-~~_"_~~~.~~~be~~~.J The value of the net sale price times the percentaQe paid bv the member city of the total lease payments for the police headquarters building in Circle Pines. - 11 .