(A) The Town Volunteer Fire Department provides fire coverage to the residents of the town.
(B) The Township Fire Board is responsible for managing the receipt and expenditure of funds concerning the Town Volunteer Fire Department.
(C) The town contracts with the Town Volunteer Fire Department and the Township Fire Board on an annual basis for fire coverage for the residents of the town.
(D) The parties intend on adopting a formula that would equalize the cost of coverage for the residents of the town as compared to the cost of coverage paid for by the Greenville Township.
(E) The Greenville Township residents pay a general firefighting tax and a cumulative fund tax that is generated by the adjusted net assessed value of property as maintained by the County Auditor’s office.
(F) The parties agree that it would be equitable to divide the dollars generated by the general firefighting tax and cumulative fund tax by the adjusted net assessed value that generated the tax and multiplying that percentage by the adjusted net assessed value of real estate in the town as maintained by the County Auditor’s office.
(G) The following formula would calculate the town’s obligation for payment of fire coverage for the residents of the town.
(1) The Township General Firefighting Tax Revenue divided by the adjusted net assessed value multiplied by the adjusted net assessed value of the town equals the town general firefighting tax.
(2) The Greenville Township Cumulative Tax Revenue divided by the adjusted net assessed value of the Greenville Township property multiplied by the adjusted net assessed value of the town property equals the Cumulative Fund Tax owed by the town.
(3) The total tax to be paid by the town is A + B as described above.
(H) The parties hereby agree to adopt the formula as described herein to calculate the fire tax that the town will pay to the Greenville Township Board for fire coverage by the Town Volunteer Fire Department. The parties further resolve and agree that should the amount figured decrease due to the calculated tax base, that both parties will discuss and agree upon the most reasonable amount acceptable to both.
(Res. passed 12-12-2005)