11-10-1997 Council Packet - Laserfiche WebLink

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budget will become the official Annual Operating Budget upon ratification by the Contracting Cities. The Annual Budget may include both operating and Major Equipment items and incorporates all costs of operations including, but not limited to, the rental of space for the fire department and discretionary funding of the Fire Benefit Association Retirement Fund. Jh® Year Two Budget refers to a single number, not to be exceeded, dollar amount which will be used as the budget limit for the next calendar year in the event the Annual Budget Package is not ratified by all Contacting Cities by October 1 of the first year of any three year period covered by this agreement. C. The Year Three Budget refers to a single number not to be exceeded dollar amount which will be used as the budget limit for the next calendar year in the event the Annual Budget Package has not been ratified by all Contacting Cities by October 1 of the second year of any three year period covered by this agreement. T^® Annual Budget Package refers to the grouping of the Annual Operating Budget, the Year Tvo Budget and the Year Three Budget which is submitted as a unit by the City of Lorig Lake for ratification by the Contracting Cities. The Annual Budget Package must be ratified by all Contracting Cities prior to October 1 In the year submitted to become the valid budgets for the following three years. The Annual Budget Package must be accepted or rejected in its entirety. 8.2 Budget Process By August 15 of each year during which this agreement remains In effect, the City of Long Lake wii! provide an Annual Budget Package covering the cost of fire protection for ihe next three calendar years. The budgets presented to the Contracting cities must have been presented to the Joint Advisory Committee prior to August 1 for discussion and review. Although it is expected that the Annual Budget Package which Is provided to the Contracting Cities by the City of Long Lake will have the consensus support of the Joint Advisory Committee, that is not a requirement since each Contracting City has the opportunity for final ratification or rejection. 9. Term of this Agreement This Agreement is for three contract years and covers the period January 1,1998 through December 31,2000. A contract year covers the penod January 1 through December 31 of a calendar year. This Agreement will become effective upon ratification by the Contracting Cities of al! its parts including Appendix C which contains the initial Annual Budget Package. The term of this agreement may be extended as described below. 9.1 On each occasion that the Annual Budget Package is ratified by October 1 by the Contracting Cities, this Agreement will be renewed for a total period of three contract years beginning with the contract year following the current contract year. The details of this process are covered in sections 9.2 through 9.5 following.