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) will require approximately up to Five Million Three Hundred Seventy Seven Thousand Two Hundred Sixty Nine Dollars ($5,377,269.00) of local participation for the Project to pay for right-of-way acquisition and utility relocation; of which the Authority and interlocal parties have Eight Hundred Seventy Seven Thousand Two Hundred Sixty Nine Dollars ($877,269.00) pledged or on deposit with TXDOT relating to the Project; and WHEREAS, the Project Financial Action Plan is attached hereto as Exhibit A and incorporated by reference hereto for all purposes; and WHEREAS, in accordance with 43 TAC §6.23, the Authority submitted an application to the State seeking to borrow not to exceed Four Million Five Hundred Thousand Dollars ($4,500,000.00) from the SIB to fund the portion of the costs of the Project it has agreed to pay; and WHEREAS, the Authority has entered into an Interlocal Cooperative Agreement (the "Interlocal Cooperative Agreement") with Delta County, Lamar County, City of Paris, City of Cooper, and the Paris Economic Development Corporation and the Department is a third party beneficiary of this Interlocal Cooperative Agreement relating to the Project; and WHEREAS, in accordance with 43 TAC §6.32(d)(1), a study of the social, economical, and environmental impact of the project, consistent with the National Environmental Policy Act (42 U.S.C. §4321 et seq.), and Title 23, U.S.C. §109(h); and in compliance with the Department's environmental rules in 43 TAC ch. 2, has been conducted as part of the Department's environmental assessment of the Project; the approval was issued on ; and WHEREAS, in accordance with 43 TAC §6.32(e), the Department has reviewed, analyzed, and found the application to be in compliance with the requirements of 43 TAC Chapter 6; and WHEREAS, the Authority's Board of Directors, adopted a resolution dated , 2012 attached hereto (the "Resolution") and made a part of this Agreement as Exhibit B. The Resolution authorizes the Authority to enter into a financial assistance agreement with the State for a loan in the amount of not to exceed Four Million Five Hundred Thousand Dollars ($4,500,000.00) for the Project; and WHEREAS, the Texas Transportation Commission, in Minute Order No. dated , 2012 granted preliminary approval, and in Minute Order No. dated 2012 (Exhibit C), granted final approval of an application from the Authority to borrow not to exceed Four Million Five Hundred Thousand Dollars ($4,500,000.00) from the SIB, and authorized the Executive Director of the Department to enter into a financial assistance agreement with the Authority for the Project; and WHEREAS, the SIB loan proceeds are "secondary funds" and "financial assistance from other than general obligation bond proceeds," as those terms are used in 43 TAC Chapter 6. NOW, THEREFORE, the State and the Authority agree as follows: AGREEMENT 95447991.8 Page 2 3 5