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• <br /> • annual financial report, as prepared by its certified public (- <br /> accountant, no later than June 30 of each year. <br /> ARTICLE 7 <br /> TERM AND RENEWABILITY <br /> 7 . 1) This Contract shall replace all previous fire <br /> protection service contracts between the respective Cities and <br /> the Fire Department. The term of this Contract shall be- annual <br /> on a calendar year basis. The Contract shall be effective upon <br /> execution and shall be automatically renewed on the same terms <br /> and conditions contained herein unless either party gives a 6 <br /> month notice to terminate this contract or renegotiate any <br /> portion thereof 6 months prior to the end of any calendar year. <br /> ARTICLE 8!II rr <br /> PAYMENT OF OPERATIONAL COSTS AND INSURANCE <br /> 8 . 1) The entire cost of operation to the Fire Department <br /> shall be borne by said Fire Department, and payment shall be <br /> made from the consideration herein stated. <br /> 8 . 2) The Fire Department is an independent contractor and <br /> its members shall not be considered employees of the Cities and <br /> shall not be entitled to any benefits usually accorded regular <br /> employees of the Cities, including, but not limited to, such <br /> items as severance pay, health and welfare insurance benefits, <br /> retirement credit, workers ' compensation coverage or other <br /> benefits normally considered to be employee fringe benefits for <br /> any regular employee of the Cities. <br /> -8- <br />