01-11-2021 Council Work Session Packet

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DRAFT Comprehensive Fire Service Study MEDINA, MINNESOTA Matrix Consulting Group Page 114 of Northfield Fire Department used to provide fire protection services and listed in Exhibit B, which is attached hereto and incorporated herein by reference, shall be leased to the NAFRS. Northfield shall execute an Equipment Lease Agreement with NAFRS leasing the above listed equipment and personal property for One Dollar ($1.00) paid by NAFRS to Northfield. The lease term shall be for a period ending upon the dissolution of the NAFRS or the withdrawal of Northfield, whichever comes first. In the event a listed item is later traded or sold by the NAFRS, the trade-in value or selling price shall be credited to next annual Party Contribution of Northfield. Termination or withdrawal shall be as otherwise provided in this Agreement with respect to disposition of assets. The Northfield Equipment Lease Agreement referenced above in paragraph 16.a. and this lease may be the same instrument. c. New Equipment Purchased Following Effective Date. The NAFRS will maintain vehicles and equipment supported by a replacement and refurbishment schedule, which will be reviewed and updated at least annually by the Board and included in the budget. The Parties shall each acquire an undivided interest as part owner of any equipment and vehicles purchased by NAFRS following the Effective Date in the proportion of each Party’s Contribution. If an item of equipment or a vehicle is purchased with installments payable over a period of years, then the relative undivided ownership inte rests of the Parties in the equipment or vehicle shall be computed in accordance with the percentage share each Party contributed to each installment. Title to equipment and vehicles purchased by NAFRS will be held by the NAFRS. The Parties agree to establish an equipment replacement fund, not to exceed $100,000 in annual contributions, except by agreement of the Parties. Contributions by Parties for capital equipment shall be as part of the approved budget and included in the respective Party Contributions. A master fire department inventory of all newly jointly purchased items will be maintained by the NAFRS. The inventory will indicate a description of the item, identification or serial numbers, fire department inventory number, the year of purchase, and the total cost of the item. When jointly purchased equipment is traded or sold, the trade -in value or sale price will be credited back to the NAFRS fire department fund for use in equipment purchases.