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Section 6. That the funds requested in the grant application will be used to <br />construct sidewalk improvements, install ADA accessible ramps for sidewalks, and provide <br />a portion of the administrative funds. <br />Section 7. That it further be stated that the City of Paris will be committing <br />$45,000 as a cash contribution toward the engineering and administration of this Main <br />Street Project. <br />Section 8. The City Council has reviewed and hereby agrees not to participate in <br />program income recapture and will return all program income to the State to be placed in a <br />statewide Revolving Loan Fund to be used by the State to fund future economic <br />development awards. By agreeing to this measure, the City understands that it will be <br />eligible to receive as many Texas Capital Fund awards per program year as it has eligible <br />projects. <br />Section 9. That this resolution shall be effective immediately upon passage. <br />PASSED AND APPROVED this 24th day of September, 2012. <br />ATTEST: <br />�� � <br />L ' <br />a ice Ellis, City Clerk <br />APPROVED AS TO FORM: <br />;. .� 1 <br />:�� <br />W. Kent McIlyar, ity Attorney <br />