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members Each participating municipality shall budget sufficient funds to provide <br />for training of its participating team members <br /> <br />Each member municipality shall maintain an independent budget system to <br />account for funds allocated and expended by its participating team members <br />Xlll TERMINATION <br />Termination shall be in accordance with those procedures set forth in prior <br />sections Each participating municipality shall retain sole ownership of equipment <br />purchased and provided to its participating team members Any acquired Team <br />assets shall be equally divided among the participating municipalities at the <br />asset's fair market value upon termination. The value of the assets of the Team <br />shall be determined by using commonly accepted methods of valuation If two or <br />more participating municipalities desire an asset the final decision shall be made <br />by arbitration (described below) Any property not claimed shall be declared <br />surplus by the Executive Board and disposed of pursuant to State law for the <br />disposition of surplus property <br />The proceeds from the sale or disposition of any Team property, after payment of <br />any and all costs of sale or debts of the agency, shall be equally distributed to <br />those municipalities participating in the Team at the time of dissolution in <br />proportion to the municipality's percentage participation in the Team as of the <br />date of dissolution <br />XIV COMPLIANCE WITH THE LAW <br />The Valley Special Response Team and all its members shall comply with all <br />Federal, State and local laws affecting the Team <br />XV ALTERATIONS <br />This agreement may be modified, amended or altered by agreement of all <br />participating municipalities and such alteration, amendment or modification shall <br />be effective when reduced to writing and executed in a manner provided for by <br />this agreement. <br />XVI RECORDS <br />Each Municipality shall maintain training records related to the team for a <br />minimum of seven years A copy of these records will be forwarded and <br />maintained with the designated SRT Training Coordinator All records shall be <br />available for full inspection and copying by each participating agency <br />WCIA Final Version 5 Valley Special Response Team <br />Operational Agreement <br />