Resolution 2013-62 - Laserfiche WebLink

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PROJECT costs for the various elements of the effort are estimated as follows: PREVIOUSLY ITEM AS AMENDED AMENDED 1. Final Design $ 200,000 $ 200,000 2. Right -of -way 50,000 50,000 3. Construction 1,100,000 725,000 4. Contingency 100,000 100,000 Grand Total $1,450,000 $1,075,000 This breakdown of costs is for estimating purposes only. Costs may vary between the various elements of the effort without amendment to this Agreement provided the total expenditures do not exceed the maximum contribution by all PARTIES plus accrued interest. C. Based on total PROJECT costs, the maximum percent and dollar contribution by each party shall be: Percentage Previously Additional Maximum Share Contributed Contribution Contribution DISTRICT 50.00% $ 537,500 $187,500 $ 725,000 CITY 50.00% $ 537,500 $187,500 $ 725,000 TOTAL 100.00% $1,075,000 $375,000 $1,450,000 2. Paragraph 5. MANAGEMENT OF FINANCES is deleted and replaced as follows: 5. MANAGEMENT OF FINANCES As set forth in DISTRICT policy (Resolution No. 11, Series of 1973, Resolution No. 49, Series of 1977, and Resolution No. 37, Series of 2009), the funding of a local body's one - half share may come from its own revenue sources or from funds received from state, federal or other sources of funding without limitation and without prior Board approval. Payment of each party's full share (CITY - $725,000; DISTRICT - $725,000) shall be made to DISTRICT subsequent to execution of this Agreement and within 30 days of request for payment by DISTRICT. The payments by PARTIES shall be held by DISTRICT in a special fund to pay for increments of PROJECT as authorized by PARTIES, and as defined herein. DISTRICT shall provide a periodic accounting of PROJECT funds as well as a periodic notification to CITY of any unpaid obligations. Any interest earned by the monies contributed by PARTIES shall be accrued to the special fund established by DISTRICT for PROJECT and such interest shall be used only for PROJECT upon approval by the contracting officers (Paragraph 13). Within one year of completion of PROJECT if there are monies including interest earned remaining which are not committed, obligated, or disbursed, each party shall receive a share of such monies, which shares shall be computed as were the original shares. \dcm \agrmn t\ 11/110403B ?i77