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RESOLUTION NO. 201_2—�01 <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SULPHUR <br />RIVER REGIONAL MOBILITY AUTHORITY AGREEING TO ENTER INTO <br />A LOAN AGREEMENT WITH THfi STATE OF TEXAS — STATE <br />INFRASTRUCTIJRE BANK (SIB) TO ALIAW FOR UT[LITY RELOCATION <br />AND RIaHTS-0E-WAY ACQUISIT[ON PROJEGT, IN CONNECTION WITH <br />A TEXAS DEPARTMENT OF TRANSPORTATION PROJECT <br />WHEREAS, the Sulphur Riv� Regional Mobility Authority (tiu "Authority") deems it <br />proper and In the best intec+est of rhe Authority to apply for, and if approved, entier into a �oen <br />egroemeat with the State Infrastructure Baok (SIB) in �e amourrt of not to exceed 54,500,000 to <br />be used w upgrade and widen Stabe Highway 24 &om e 2-lane highway to a 4-lane dfvided <br />highway from [nterstate 30 to the Paris city limita (the "Projeat'�; and <br />WHERFAS, the Aut6ority rxogni�es ihe benefit of its residents and all who use and <br />depend on tbe services of State Highway 24 to be nelocetedlrehabilitated es wcll as maintaining <br />the integrity of the roadway it9elf by p�+eserving the underground stcuctures; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE <br />SULPHUR R[VER REGIONAL MOBILITY AUTHORITY: <br />Section l. That the Board of D'a««xors believes that it is in the best inte�est of the <br />residents of the Aud�ority to enter into a low interest loari agr�ment wiW tha State of Texes — <br />State Infrastructure Banic (SIB) in the amount of not to exoeed $4,500,000 to be used to upgrade <br />and widen State Highway 24 from $ 2-lane bigltway to a 41at� divided highway fmm ITrterstate <br />30 to the Pgris city limita. <br />Section 2 The Hoard of Directors hereby suthorius the Chait�nan and/or Secretary <br />to execube en applic�tion for submisseon to the Trensportation Stabe Infiastructure Bank Progcam <br />in the amourit of not to excxed a4,500,000, and all n�ssary documentation regerding seme. <br />Section 3. A copy of the Appiicat�on for Finencial Assistance is attechad hereto as <br />Exhibit "A" and made a part hereof for ail purposes. <br />Section 4. This Resolution may be relied upon by the aErpropriate officials at the <br />'fexas Depardnent of Trensportetion and asteblishes oomptiana by the A�thority with the <br />requiremeMs ofTexas law. <br />Sedion 5. The recitals conteined in the preamble henof are hereby found to be tcve, <br />and such recitsls are hereby made a part oithis Rosolution for all purposes and are adopted as a <br />part of thc judgment and findings of the Board of Directors. <br />Section 6. Al! oc+diaences, orders and nsolutions, or parts �eroof� which are in <br />conflict or inconsistent with any provision of this Reaoludon are hereby repeeled to tbe extent of <br />such conflict, end the provisions of this Resolution shall be and remain coritrolling as to the <br />matters resolved herein. <br />955145+3.1 <br />