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11.4 Ownership of Equipment. All contributions for equipment by the withdrawing <br /> municipality shall be lost and the property shall remain property of the Police <br /> District. <br /> SECTION XII <br /> DURATION, DISSOLUTION OF THE <br /> DISTRICT <br /> 12.1 DURATION Unless dissolved pursuant to this agreement, the duration of the <br /> District shall be <br /> perpetual. <br /> 12.2 Dissolution. The District shall be dissolved upon unanimous agreement of all <br /> parties. <br /> 12.3 Upon unanimous agreement for dissolution, each member municipality shall <br /> continue payments and operate as a full participant in the District for a one (1) <br /> year period, so that dissolution can occur in an orderly fashion. <br /> SECTION XIII <br /> DISTRIBUTION OF EQUIPMENT UPON TERMINATION <br /> OR <br /> DISSOLUTION <br /> 13.1 Process. <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 /> equipment and Personal property of the District, and other related equipment. <br /> Distribution will only occur after all District debts and long term expenses have <br /> been satisfied. <br /> (b) All property and equipment will be sold. <br /> (c ) In addition, the financial records of the District will be reviewed for the <br /> lesser of the life of the District or for the last 15 years, to determine the total dollar value <br /> of contributed equipment and other payments made by each member municipality. The <br /> District will then determine the percentage of the total paid by each member <br /> municipality. <br /> The percentage of the total contributions over the applicable period will then be <br /> multiplied times the total dollars arrived at by sale of all equipment and personal property <br /> of the District less any debts, and then distributed to the cities. <br /> SECTION XIV <br /> 13 <br />