34.Interlocal agreement SURRMA - Laserfiche WebLink

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provisions hereof shall be constructed to effectuate the purposes set forth herein and to sustain the validity of this Agreement. SECTION 23: Compliance with Texas Open Meetings Act. It is officially found, determined, and declared that the meeting of each of the Participants and the Authority at which this Agreement is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Agreement, was given, all as required by Chapter 551, as amended, Texas Government Code. SECTION 24: Term of Agreement. This Agreement will terminate upon the SIB Loan being paid in full or upon the defeasance of the SIB Loan and, if applicable, the refunding bonds being paid in full or upon the defeasance of any refunding bonds issued to refund the SIB Loan. SECTION 25: No Personal Liability. This Agreement is solely the governmental obligations of TXDOT, the Authority, and each of the Participants and no member of any governing body of TXDOT, the Authority, or the Participants shall be held personally liable for any pecuniary payment pursuant to the terms of this Agreement and/or the SIB Loan Agreement and no such member shall be charged personally by a Participant, the Authority, and/or TXDOT with any liability, or be held liable under any term or provision of this Agreement or the SIB Loan Agreement, or because of execution or attempted execution, or because of any breach or attempted or alleged breach, of this Agreement and/or the SIB Loan Agreement. SECTION 26: TXDOT Third Party Beneficiary. Given that the ability to repay the SIB Loan rests solely with each of the Participants, the parties hereto recognize and agree that TXDOT may proceed directly against any Participant to enforce its rights, duties, and obligations and to pursue any remedy pursuant to the SIB Loan Agreement. 95422970.4 -9- P60