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r - •1 <br />COUNCIL MEETING <br />DEC 122005 <br />REQUEST FOR COUNCIL ACTION CITY OF ORONO <br />DATE: December 12,2005 <br />ITEM NO: ^ <br />Der.rt>«rt Adniaistnitor Reviewed: <br />Name Tom Kuehn ^ <br />Title Finance Director <br />Item Description: Joint Fire Station Accot^t Close Out <br />Agenda Section: <br />City Administrator's <br />Report <br />The cities of Orono and Long Lake entered into a joint agreement in 2001 to fund the <br />construction of the replacement Long Lake fire station. A joint account was established to <br />account for the revenues and expenditures related to this project. It was stipulated that any <br />revenues remaining after payment of all costs would be divided equally between the two <br />cities. In July, 2002, it was determined that the project would be completed for substantially <br />less than origiiuUly projected and $850,000 was distributed equally between the two cities at <br />that time. The project costs have been finalized and there remains $518,678 in the joint <br />account as of 1^7/05. It is recommended the amount remaining in the account be distributed <br />equally between the cities of Orono and Long Lake, and that the account be closed. <br />COUNCIL ACTION REQUESTED: <br />Motion to authorize the withdrawal of the renuuning balance from the Joint Fire Station <br />Account, to be divided equally between the cities of Orono and Long Lake. <br />5^1 <br />‘v:.. . V'' <br />• ^ • • \ ■ <br />RMltoM CMMi AMlfriMSVIilii ffit iiiM <br />4 <br />1