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<br />CENTENNIAL FIRE DISTRICT <br />JOINT POWERS AGREEMENT <br /> <br />After six (6) month period, no refund of damages shall occur, even though the <br />municipality may determine they wish to abandon their withdrawal and stay with the <br />District. <br /> <br />11.4 Distribution of Equipment. Distribution of equipment for withdrawal shall be as <br />specified in Section XIII. <br /> <br />SECTION XII <br />DURATION, DISSOLUTION OF THE DISTRICT <br /> <br />12.1 Unless dissolved pursuant to this agreement, the duration of the District shall be perpetual. <br /> <br />12.2 Dissolution. The District shall be dissolved upon unanimous agreement of all parties. <br /> <br />12.3 Upon unanimous agreement for dissolution, each member municipality shall continue <br />payments and operated as a full participant in the District for a two (2) year period, so that <br />distribution of equipment can occur in an orderly fashion. <br /> <br />SECTION XIII <br />DISTRIBUTION OF EQUIPMENT UPON TERMINATION, WITHDRAWAL OR <br />DISSOLUTION <br /> <br />13.1 Process. <br /> <br />(a) Upon dissolution, termination or withdrawal from the District by a member, or <br />members of the District, the following procedure shall be used to distribute the <br />personal property of the District, its capital equipment and other related <br />equipment. Distribution will only occur after all District debts and long term <br />expenses have been satisfied. <br /> <br />(b) Within six months of notice of withdrawal or dissolution the District shall retain a <br />qualified appraiser to evaluate each piece of capital equipment and all other <br />equipment and personal property that is owned by the District. The appraiser shall <br />submit the report to each of the municipalities within three dispute resolution <br />provisions of Sections III an X will be employed. <br /> <br />In addition, the financial records of the District will be reviewed for the lesser of <br />the life of the District or for the last 15 years, to determine the total dollar value of <br />contributed equipment and depreciation payments made by each member <br />municipality. The District will then determine the percentage of the total paid by <br />each member municipality. <br /> <br />(c) The percentage of the total contributions over the applicable period will then be <br />multiplied times the total dollars arrived at by the appraiser for all capital <br />equipment, other equipment and personal property of the District. <br /> <br />Page # 11 <br />