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receipt of a notice of intent to withdraw, the <br />Administrative Committee shall make all the necessary <br />arrangements to sell or dispose of the firefighting <br />equipment and land or buildings acquired pursuant to this <br />Joint Powers Agreement. The Cities shall obtain an <br />appraisal of the firefighting equipment and land and <br />buildings acquired pursuant to this Joint Powers Agreement <br />to determine the depreciated value of the Property. If the <br />Cities cannot agree on the appointment of an appraiser, the <br />Chief Judge of the Tenth Judicial District shall appoint <br />the appraiser. The appraised assets shall be disposed of <br />in the following priority: <br />I. In the event that the remaining two cities intend <br />to continue to participate in this Agreement, the <br />remaining Cities would purchase the interest of the <br />withdrawing City and proportionately share the cost of <br />purchase. For example, if Spring Lake Park withdrew, <br />Blaine's current ownership interest is 64.36 and <br />Mounds View's is 22.08%. Therefore be <br />responsible for 64.36/86..44 ,.:. <br />purchase, ?_ and_ Mounds . View; would. bar responsible+ fair <br />22.06/86.44, or, the, remainingr-25'.5'4�`-`°ofi;,tfii buy out.... <br />The remaining Cities; shalwithiiit -9p� daysT o th'e' <br />date_ of- the termination- of this= <br />