2024-037 - Authorizing Execution of Advance Funding AGreement with TxDOT - Bike Lane Project

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RESOLUTION NO. 2024-037 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS AUTHORIZING EXECUTION OF AN ADVANCE FUNDING AGREEMENT (AFA) WITH THE TEXAS DEPARTMENT OF TRANSPORTATION FOR A TRANSPORTATION ALTERNATIVES SET-ASIDE (TASA) PROJECT; MAKING OTHER FINDINGS AND PROVISIONS AND DECLARING AN EFFECTIVE DATE. WHEREAS, on October 26, 2023, via Minute Order 116575, the Texas Transportation Commission authorized the 15t Street SW Bike Lanes Project (the "Project) to receive Transportation Alternatives Set -Aside (TASA) funds for project construction and Texas Department of Transportation (TxDOT or the State) oversight; and WHEREAS, the TASA funds require a local match, and the City of Paris, Texas commits to provide the match in the amount of ONE HUNDRED TWO THOUSAND FOUR HUNDRED THIRTY-FOUR DOLLARS AND NO/100 ($102,434.00) comprised of cash or Transportation Development Credits (TDCs); and WHEREAS, the City of Paris, Texas is responsible for all non -reimbursable costs and 100% of overruns, if any; and WHEREAS, the City Council of the City of Paris, Texas desires to reaffirm its support of the Project and approve and authorize the execution of an Advance Funding Agreement (AFA) with TxDOT for the Project. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes. Section 2. That the Mayor is authorized to enter into an Advance Funding Agreement with TxDOT for this Project. Section 3. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 26th day of August, 2024. \\��11111111l1/�� ...... , o ATTEST: ,. '. �� ice Ellis City i Inllll J ty Clerk 11X\ Mihir Pankal, Mayor