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Finance SIB #S2012-005-01 <br />SuRRMA — (Paris District) <br />THE STATE OF TEXAS § <br />COUNTY OF TRAVIS § <br />STATE INFRASTRUCTURE BANK (SIB) <br />LOAN AGREEMENT <br />THIS STATE INFRASTRUCTURE BANK LOAN AGREEMENT (THIS "AGREEMENT') <br />MADE BY and between the State of Texas, acting by and through the Texas Department <br />of Transportation, hereinafter called the "Department° or "State," and the Sulphur River <br />Regional Mobility Authority, hereinafter called the "Authority�" which is a political <br />subdivision of the State of Texas and which is located in Delta, Hunt, and Lamar Counties, <br />Texas. <br />WITNESSETH <br />WHEREAS, the Secretary of Transportation of the United States Departrnent of <br />Transportation is authorized by Section 350 of Public Law 104-59 (ttte "NHS Designation <br />Act") to enter into cooperative agreements with certain states, including Texas, to establish <br />a State Infrastructure Bank (°SIB") for the purpose of making loans and providing other <br />finanaal assistance to public and private entities, so as to encourage public and private <br />investment in transportation facilities, expand the availability of funding for transportation <br />projects, and reduce State costs; and <br />WHEREAS, the Texas Legislature established a SIB as an account in the state <br />highway fund to be administered by the Texas Transportatwn Commission (Transportation <br />Code, Chapter 222, Subchapter D); and <br />WHEREAS, the Texas Transportation Commission has adopted rules to implement <br />the SIB program including eligibility criteria for financial assistance (Title 43, Texas <br />Administrative Code (TAC), Part 1, Chapter 6); and <br />WHEREAS, the Authority is authorized by law to construct, maintain, and finance a <br />highway improvement project; and <br />WHEREAS, pursuant to Minute Order No. 113074 adopted on April 26, 2012, the <br />Department will undertake and complete a highway improvement generally described as <br />the widening of State Highway 24 from a two-lane to a four-lane highway, from FM 64 <br />southwest to FM 904, all located within the boundaries of the Authority (the "Project"), but <br />will require $745,125 in federal participation and an estimated $3,864,875 of local <br />participation in the Project to pay for costs of right-of-way acquisition and utility relocation <br />for the Project; and <br />WHEREAS, the Authority has entered into a°Master Agreement Goveming Local <br />Transportation Project Advance Funding Agreements" and a related "Local Transportation <br />Project Advance Funding Agreement for A Transportation, Community, and System <br />Preservation Program Project On System" (collectively, the "Advance Funding <br />Agreement") pursuant to which the Authority has agreed to provide for or pay the <br />Page 1 of 12 <br />