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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS <br />AUTHORIZING EXECUTION OF AN ADVANCE FUNDING AGREEMENT <br />(AFA) WITH THE TEXAS DEPARTMENT OF TRANSPORTATION FOR A <br />TRANSPORTATION ALTERNATIVES SET-ASIDE (TASA) PROJECT; <br />MAKING OTHER FINDINGS AND PROVISIONS AND DECLARING AN <br />EFFECTIVE DATE. <br />WHEREAS, on October 26, 2023, via Minute Order 116575, the Texas Transportation <br />Commission authorized the 1St Street SW Bike Lanes Project (the "Project) to receive <br />Transportation Alternatives Set -Aside (TASA) funds for project construction and Texas <br />Department of Transportation (TxDOT or the State) oversight; and <br />WHEREAS, the TASA funds require a local match, and the City of Paris, Texas commits <br />to provide the match in the amount of ONE HUNDRED TWO THOUSAND FOUR HUNDRED <br />THIRTY-FOUR DOLLARS AND NO/100 ($102,434.00) comprised of cash or Transportation <br />Development Credits (TDCs); and <br />WHEREAS, the City of Paris, Texas is responsible for all non -reimbursable costs and <br />100% of overruns, if any; and <br />WHEREAS, the City Council of the City of Paris, Texas desires to reaffirm its support <br />of the Project and approve and authorize the execution of an Advance Funding Agreement <br />(AFA) with TxDOT for the Project. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS: <br />Section 1. That the findings set out in the preamble to this resolution are hereby in <br />all things approved and are incorporated herein for all purposes. <br />Section 2. That the Mayor is authorized to enter into an Advance Funding Agreement <br />with TxDOT for this Project. <br />Section 3. That this resolution shall be effective from and after its date of passage. <br />PASSED AND APPROVED this 26th day of August, 2024. <br />Mihir Pankaj, Mayor <br />ATTEST: <br />Janice Ellis, City Clerk <br />