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10 <br />WHEREAS, the Texas Transportation Commission, hereinafter called the <br />"Commission ", will use those funds in a statewide competitive program <br />that enhances the intermodal transportation systems and facilities <br />within the state for the enjoyment of the users of those systems; and <br />WHEREAS, the State and the City desire to construct a sedimentation and <br />pollution mitigation basin, as shown in the attached "Exhibit A," to be <br />hereinafter identified as the "Project;" and <br />WHEREAS, Title 23 U.S.C. Section 120 establishes that the Federal share <br />of funding for STEP will not exceed eighty percent (80 %) of the cost of <br />the Project; and <br />WHEREAS, the City has offered to participate in the development and <br />construction of the Project by providing funding, procuring the <br />consultant services, accomplishing utility adjustments and other <br />necessary items required by the State; and <br />WHEREAS, on the 8th day of August, 1994, the Paris City Council passed <br />Resolution No. 94 -101, attached hereto and identified as "Exhibit B," <br />authorizing the city's participation in the development of the Project; <br />and <br />WHEREAS, the State will secure the federal cost share and other items as <br />required; and <br />WHEREAS, on the 30th day of November, 1994, the Commission passed Minute <br />Order 104682, attached hereto and identified as "Exhibit C ", authorizing <br />the Project through the State Transportation Improvement Program; <br />A G R E E M E N T <br />NOW, THEREFORE, in consideration of the premises and of the mutual`) <br />covenants and agreements of the parties hereto, to be by them <br />2 <br />