34.Interlocal agreement SURRMA - Laserfiche WebLink

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1.4 TXDOT will construct the Project, in consultation with the Authority, and is responsible for all aspects of the pre-construction (soft) costs (engineering services--- provide maps, plats, deeds services and ROW acquisitions services), construction, acquisition, design, upkeep, maintenance, and operation of the Project and in connection therewith as set forth in the SIB Loan Agreement, TXDOT shall comply with all applicable law relating to the construction of public works, including, without limitation, the provisions of Chapter 2253, as amended, Texas Government Code (pertaining to public works performance and payment bonds). SECTION 2: Duties of the Authority. The Authority hereby agrees to perform the following: 2.1 In consideration of the TXDOT's agreement to undertake the actions set forth in Section 1 hereof and the Participants' obligation to undertake the actions set forth in Section 3 hereof, the Authority shall comply with its obligations set forth in the SIB Loan Agreement and shall transfer, on an annual basis, lawfully available revenues to pay the debt service requirements on the SIB Loan Agreement as represented by and limited to certain Participants debt service obligations on the SIB Loan Agreement attached hereto as Exhibit C and incorporated by reference for all purposes to this Agreement and the SIB Loan Agreement. 2.2 The Authority shall comply with all of its obligations set forth in this Agreement and the SIB Loan Agreement. 2.3 Prior to the beginning of each fiscal year, the Authority shall provide annually to TXDOT and each Participant, for so long as the SIB Loan remains outstanding, a true and correct copy of the Authority's annual fiscal year budget for each fiscal year within thirty (30) days of approval of this budget by the Board of Directors of the Authority. SECTION 3: Duties of the Participants. 3.1 The Commissioners Court of Delta County, Texas ("Delta") adopted a resolution on , 2012 ("Delta Resolution") approving its rights, duties, and obligations pursuant to this Agreement and the SIB Loan Agreement. Delta has deposited an amount equal to $132,144.00 into the Project Account on a pro rata basis in the SIB Loan Agreement as its initial cash contribution for the Project. Delta has also expressly recognized in the Delta Resolution its further potential pecuniary liability should the Authority's "local match contribution" as set forth in the SIB Loan Agreement not be sufficient to pay the Authority's actual Project costs consisting of rights-of-way acquisition and utility relocation relating to the Project. Should this potential pecuniary obligation arise all of the Participants have agreed to use their good faith, best efforts to coordinate among the Participants to fund this shortfall to the Project Account on a pro rata basis to enable the Department to proceed with the timely completion of the Project. The Delta Resolution further acknowledges that the Delta County Commissioners Court with its authority releases the federal funds of the amount $745,125.00 deposited with TXDOT to the Authority designated to fund the ROW Acquisition and Utility Relocation of the Project. 3.2 The Commissioners Court of Lamar County, Texas ("Lamar") adopted a resolution on , 2012 ("Lamar Resolution") approving its rights, duties, and obligations pursuant to this Agreement and the SIB Loan Agreement. Lamar has agreed that its initial cash contribution to the Project is $1,450,000. Lamar will funds its payment obligation to the Authority and TXDOT based upon its appropriate portion of the SIB Loan amortization 95422970.4 -3 - 254: