34.Interlocal agreement SURRMA - Laserfiche WebLink

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schedule that is attached to this Agreement as Exhibit C-1. Lamar has also expressly recognized in the Lamar 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. 3.3 The City Council of the City of Paris, Texas ("Paris") adopted a resolution on , 2012 ("Paris Resolution") approving its rights, duties, and obligations pursuant to this Agreement and the SIB Loan Agreement. Paris has deposited an amount equal to $1,450,000 into the Project Account in the TXDOT Loan Agreement as its initial cash contribution for the Project. Paris will funds its payment obligation to the Authority and TXDOT based upon its appropriate portion of the SIB Loan amortization schedule that is attached to this Agreement as Exhibit C-2. Paris has also expressly recognized in the Paris Resolution its further potential pecuniary liability should the Authority's "local match contribution" as set forth in the TXDOT 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. 3.4 The Board of Directors of Paris Economic Development Corporation ("Paris EDC") adopted a resolution on , 2012 ("Paris EDC Resolution") approving its rights, duties, and obligations pursuant to this Agreement and the TXDOT Loan Agreement. Paris EDC has deposited an amount equal to $1,450,000 into the Project Account in the TXDOT Loan Agreement as its initial cash contribution for the Project. Paris EDC will funds its payment obligation to the Authority and TXDOT based upon its appropriate portion of the SIB Loan amortization schedule that is attached to this Agreement as Exhibit C-3. Paris EDC has also expressly recognized in the Paris EDC 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. 3.5 The City Council of the City Cooper, Texas ("Cooper") adopted a resolution on , 2012 ("Cooper Resolution") approving its rights, duties, and obligations pursuant to this Agreement and the TXDOT Loan Agreement. Cooper has agreed that its initial cash contribution to the Project is $150,000.00. Cooper will funds its payment obligation to the Authority and TXDOT based upon its appropriate portion of the SIB Loan amortization schedule that is attached to this Agreement as Exhibit C-4. Cooper has also expressly recognized in the Cooper 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 95422970.4 -4- 255