09-27-1993 Council Packet - Laserfiche WebLink

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C The Year Three Fhidnet 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 tiio Annual Budget Package hxs not been ratified by all Contacting Cities by Octe^ber I of the second year of any three year period covered by diis agreement. D. Tl.e Annual Budget Packaee refers to the grouping of die Annual Operating Budget, the Year Two Budget and the Year Three Budget which is submitted as a unit by the City of Long Lake for ratification by the Contracting Cities. The Annual Budget P.ickage must be ratitieu 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 ot Long Lake will provide an Annual Budget Package covering the cost of fire protection for the next three calendar year- ITie 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 I.ong Lake will have the consensus support of the Joint Advisory Committee, that is not a requirement since each Contracting City has the opportunity for f.nal ratification or rejection. 9. Term of this Aereement. Tliis Agreement is for three coivract years and covers the period January 1. 1994 through December 31, 1996. A contract year covers the period January 1 through December 31 of a calendar year. This Agreement will become effective upon ratification by the Contracting Cities of all its parts including Appendix C which contains the initial Annual Budget Package. The term of this agreement niay be e.xtended as described below. 9.1 On each occai.son that the Anuual Budget Package is ratified by October 1 by the Contracting Cities, this Agreement will be renewed fer a total period of three contract year:, beginning with the contract vear ft)llowing the current contract year. Ilie details of this process are covered in sections 9.2 through 9.5 following. 9.2 When during the first contr.ict ye.u of any three yea: period covered by the Agreement the Annual Budget Pack.ige is ratified by Contracting Cities by October 1. this Agreement shall be extended by one contract year. When during the second contract year of any three year period covered by the Agreement the Annual Budget Package is ratified by Contracting Cities by October 1. this Agreement shall be extended by two contract years. When during the third contract year of any three year period covered bv the Agreement tbe Annual Budget Package is ratified by Contracting Cities by October 1. this Agreement sh.Ul be extended by three contract years. The elements of the Annual Budget Package so ratified will replace the elements of the prevhmsiy ratified Annual Budget Package. 9.3 W'hen during the first contract year of any three year period covered by the Agreement the Annual Budget Package is not ratified by Contracting Cities by October 1. the amount