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<br /> <br /> <br /> <br /> <br /> <br /> DRAFT 2/20/2012 <br /> <br /> AN INTERLOCAL COOPERATIVE AGREEMENT AMONG DELTA <br /> COUNTY, LAMAR COUNTY, CITY OF PARIS, PARIS ECONOMIC <br /> DEVELOPMENT CORPORATION, AND THE CITY OF COOPER AND <br /> THE SULPHUR RIVER REGIONAL MOBILITY AUTHORITY <br /> RELATING TO THE ANTICIPATED TRANSFER OF CERTAIN <br /> LAWFULLY AVAILABLE FUNDS FROM THESE ENTITIES TO CASH <br /> FUND THE APPROPRIATE PORTION OF AN ESCROW/ <br /> CONSTRUCTION ACCOUNT AND/OR TO MAKE DEBT SERVICE <br /> PAYMENTS OVER TIME TO THE SULPHUR RIVER REGIONAL <br /> MOBILITY AUTHORITY FOR THE BENEFIT OF THE TEXAS <br /> DEPARTMENT OF TRANSPORTATION TO WIDEN AN <br /> APPROXIMATE 10.4 MILE SEGMENT OF TEXAS HIGHWAY 24; <br /> EXPRESSLY RECOGNIZING THAT THESE CONTRIBUTED FUNDS <br /> AND/OR ANNUAL DEBT SERVICE PAYMENTS REPRESENT THE <br /> SOLE SECURITY FOR THE REPAYMENT OF A STATE <br /> INFRASTRUCTURE BANK LOAN BETWEEN THE SULPHER RIVER <br /> REGIONAL MOBILITY AUTHORITY AND THE TEXAS <br /> DEPARTMENT OF TRANSPORTATION; ESTABLISHING THE <br /> RIGHTS, DUTIES, OBLIGATIONS, AND RESPONSIBILITIES <br /> CONCERNING THE OWNERSHIP AND OPERATION OF THESE <br /> PUBLIC IMPROVEMENTS; AND OTHER MATTERS IN CONNECTION <br /> THEREWITH <br /> This agreement (the Agreement) is made to be effective as of the day of <br /> , 2012 by and among the Commissioners Court of the County of Lamar, Texas, <br /> the Commissioners Court of the County of Delta, Texas, the City Council of the City of Paris, <br /> Texas, the City Council of the City of Cooper, Texas and the Board of Directors of the Paris <br /> Economic Development Corporation (collectively, the Participants) and the Board of Directors <br /> of the Sulphur River Regional Mobility Authority, an agency of the State of Texas (the <br /> Authority). <br /> <br /> RECITALS <br /> <br /> WHEREAS, expansion and improvement of the transportation infrastructure leading <br /> through Delta County, Hunt County, and Lamar County is vital to the safety and economic <br /> development of the citizens and businesses of the region. WHEREAS, for over 30 years, <br /> community leaders from Delta County, Texas, Hunt County, Texas, and Lamar County, Texas <br /> and the North East Texas Mobility Council had urged the Texas Legislature, the Texas <br /> Department of Transportation ("TXDOT") and the Texas Transportation Commission to upgrade <br /> and widen State Highway 24 from a 2-lane highway to a 4-lane divided highway from Interstate <br /> 30 Exit 101 to US 271 creating four lane access through the counties of Delta, Hunt, and Lamar; <br /> and <br /> <br /> WHEREAS, the only stretch of State Highway 24 that has not been upgraded to a 4-lane <br /> divided highway is the approximate 10.4 mile gap from the City of Cooper, Texas southwest to <br /> the Delta/Hunt County line; and <br /> <br /> 95422970.4 <br /> <br /> 252 <br />