33.Costs for upgrading and widening State Highway 24

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Finance SIB # Sulphur River Regional Mobility Authority (Delta, Hunt, and Lamar Counties) THE STATE OF TEXAS § DRAFT 2/20/12 COUNTY OF LAMAR § STATE INFRASTRUCTURE BANK (SIB) LOAN AGREEMENT THIS STATE INFRASTRUCTURE BANK LOAN AGREEMENT (THIS "AGREEMENT") MADE BY and between the State of Texas, acting by and through the Texas Department of Transportation, hereinafter called the "Department" or "State," and the Sulphur River Regional Mobility Authority, hereinafter called the "Authority," which is a political subdivision of the State of Texas and which is located in Delta, Hunt, and Lamar Counties. WITNESSETH WHEREAS, the Secretary of Transportation of the United States Department of Transportation is authorized by 23 USC Section 610 to enter into cooperative agreements with the states to establish a State Infrastructure Bank ("SIB") for the purpose of making loans and providing other financial assistance to public and private entities, so as to encourage public and private investment in transportation facilities, expand the availability of funding for transportation projects, and reduce State costs; and WHEREAS, the Texas Legislature established a SIB as an account in the state highway fund to be administered by the Texas Transportation Commission (Transportation Code, Chapter 222, Subchapter D); and WHEREAS, the Texas Transportation Commission has adopted rules to implement the SIB program including eligibility criteria for financial assistance (Title 43, Texas Administrative Code JAC), Part 1, Chapter 6); and WHEREAS, the Authority is authorized by law to construct, maintain, and finance a highway improvement project; and WHEREAS, the State and the Authority together are developing a project widening the remaining 10.4 mile portion of State Highway 24 from a 2-lane highway to a 4-lane divided highway from the Hunt-Delta County line to the City of Cooper, Texas related rights-of-way and infrastructure improvements, as described in further detail in Article 2 of this Agreement (the "Project"); the Project is on the state highway system and is included in the 2011-2014 Transportation Improvement Program; and WHEREAS, the Authority and the State will enter into an agreement to complete the 10.4 miles of four lane road with the Authority to fund the portion of right of way and utility relocation, subject solely to funding from Lamar County, Delta County, City of Paris, City of Cooper, and the Paris Economic Development Corporation, and the State shall fund the preconstruction, engineering, construction management, construction, and maintenance of the Project; and WHEREAS, TXDOT has pledged Thirty Three Million Two Hundred Seven Thousand Dollars ($33,207,000) of funding to complete the final 10.4 mile stretch of State Highway 24 from the City of Cooper, Texas southwest to the Delta/Hunt County line, but 95447991.8 Page 1 of 14 EX H I BIT'11K