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prescribed, or as may otherwise be agreed upon from time to <br /> time. The Cities shall strictly account for and disburse <br /> all receipts and expenses under this Agreement and shall <br /> own all of the Property as provided in paragraph 111 (E) <br /> hereof. <br /> (B) Creation and Composition of Administrative Committee. <br /> An Administrative Committee comprised of the three chief <br /> administrative officers of the Cities is hereby <br /> established. The Blaine City Manager shall maintain the <br /> files and records of the Committee. <br /> (C) Duties of Administrative Committee. The <br /> Administrative Committee's duties shall include, but not be <br /> limited to, the following: <br /> 1. To administer the terms and provisions of this <br /> Agreement. <br /> 2. To periodically review fire service contract <br /> proposals submitted by providers of fire protection <br /> and to make recommendations to the Cities regarding <br /> the terms of such proposals. <br /> . 3 . To periodically review the Cities' requirements <br /> for firefighting equipment or land and buildings to be <br /> used for fire protection services and to make <br /> recommendations to the Cities regarding the purchase, <br /> sale, maintenance, or lease of such firefighting <br /> equipment, land or buildings. <br /> 4 . To review the annual budget for fire protection <br /> services to the Cities, to make recommendations <br /> thereon to the Cities, and to administratively monitor <br /> the execution of the approved annual budget for fire <br /> . protection services. <br /> (D) Sharing of Costs. All costs incurred pursuant to this <br /> Agreement, including annual operating costs, capital costs, <br /> and annual debt service on any bonds or other obligations <br /> hereafter issued pursuant to this Agreement, shall be borne <br /> by the Cities in their respective shares, as determined by <br /> the Formula from year to year. Mounds View and Spring Lake <br /> Park agree to pay to Blaine, as and when requested, annual <br /> debt service on bonds or other obligations issued pursuant <br /> to this Agreement. <br /> (E) Ownership of Property. Property shall be held <br /> nominally in the name of the City of Blaine, but each of <br /> the Cities shall have a percentage ownership interest in <br /> •• <br /> -2- <br />