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RESOLUTION NO. 2021 - 052 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS <br />DECLARING THE CITY OF PARIS' INTENT TO PROVIDE 1% OF THE <br />NEEDED FUNDING FOR THE NORTHEAST LOOP 286, TXDOT <br />IMPROVEMENT PROJECT; MAKING OTHER FINDINGS AND PROVISIONS <br />RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, the Texas Department of Transportation (TxDOT), has long planned major <br />improvements to Loop 286 around the City of Paris that are critical to the infrastructure for our <br />community and economy, and <br />WHEREAS, one phase is the Northeast Loop from Stillhouse Road to Pine Mill Road <br />consisting of building a new overpass at North Collegiate, rebuilding the overpass at FM195, <br />adding one-way frontage roads along both sides of Northeast Loop 286, and replacing Northeast <br />Loop 286 from Stillhouse Road to Pine Mill Road.; and <br />WHEREAS, TxDOT estimates these improvements could help reduce crashes by 65% given <br />the area at North Collegiate Drive accounts for nearly a third of crashes on the entire Loop; and <br />WHEREAS, the project is approximately 90% through schematic drawing and nearly 30% <br />through construction design and is estimated to cost nearly ($90,000,000.00) NINETY MILLION <br />DOLLARS; and <br />WHEREAS, TxDOT, wonting with the Sulphur River Regional Mobility Authority <br />(SURRMA), have recommended that both the City of Paris and Lamar County agree to contribute <br />approximately 1% each of the necessary funds for the project (approximately $900,000.00 each) <br />to help secure funding from the State; and <br />WHEREAS, in the event that the State funds said project, City Staff recommends longterm <br />financing for the City's share of the funding in the form of Certificate of obligation or SIB Loans; <br />and <br />NOW THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all things <br />approved. <br />Section 2. The City Council hereby declares the City of Paris' intent to provide 1% of the <br />needed funding for the Northeast Loop 286 TxDOT Improvement Project, in the sum of <br />approximately $900,000.00. <br />