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03-02-2020 WS
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03-02-2020 WS
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MV City Council
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City Council Packets
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3/2/2020
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the Cities shall have a percentage ownership interest in <br />the Property, which percentage shall vary from time to time <br />and equal that City's "Historical Share", hereafter <br />described. For the years 1970 through 1990 the total <br />capital costs under the Contract and its predecessor <br />agreements or arrangements amounted to $1,332,566, of which <br />Blaine contributed $857,694 (64.36%), Mounds View <br />contributed $294,205 (22.08%), and Spring Lake Park <br />contributed $180,667 (13.56%). Those Historical Shares <br />shall be recomputed for each year based upon each Cities, <br />additional contributions made pursuant to this Agreement. <br />(F) Consent ang App ov For purposes of determining <br />majority consent at the Administrative Committee level, or <br />at the City Council level, each City shall have voting <br />rights which equal its percentage share under the Formula <br />at the time such decision is made, with each such decision <br />being made on the basis of 50% + approval. <br />(G) Sandzncs. For the purpose of defraying the expense of <br />the acquisition, construction, furnishing, and betterment <br />of land,-buildings, and equipment for municipal fire <br />protection and firefighting purposes, the Cities believe it <br />to be in their best interest that approximately $4,450,000 <br />of bonds be issued. It is anticipated that such bonds <br />would be issued by Blaine and would be general obligations <br />of that City. Each City's share of the debt service on <br />such bonds, or on any other obligations issued pursuant to <br />this Agreement, shall from year to year equal that Cityrs <br />Formula percentage for that year multiplied by the total <br />amount of debt service due on such obligations in said <br />year. No bonds shall be issued or other capital casts <br />incurred under this Agreement without the majority consent <br />and approval of the Cities, as described in paragraph <br />TTI(F) above. The annual budget Ear fire protection <br />services to the Cities under this Agreement shall he <br />presented for review and approval to each of the City <br />Councils; provided, however, that in making all decisions <br />under this Agreement, including those described above, the <br />Administrative Committee shall make recommendations. <br />(H) P-ur.?Ltjon °f' &gxgemgnt— This Agreement shall remain in <br />effect for an indefinite term. <br />(I) nt = This Agreement shall be <br />terminated within one year after the City Council of one of <br />the Cities notifies the other Cities by resolution of its <br />intent to withdraw from participating in this Joint Powers <br />Agreement. The notice of intent to withdraw must be given <br />one year in advance of the proposed termination date. Upon <br />-3- <br />
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