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• City of tugene uontract~zuul-uu~l.t ~ r ` _ October 18, 2000 Misc. Contracts and Agreements _ No. 18,682 2000 FUND EXCHANGE AGREEMENT ~ City of Eugene . Garden Way improvements THIS AGREEMENT• is made and entered into by and between the STATE OF OREGON; acting by and through its Department of Transportation, hereinafter referred to as 'State', and the CITY OF EUGENE acting by and through its elected officials, hereinafter referred to as "Agency". RECITALS ~ ~ , 1. By .the authority granted in ORS 190.110, 366.770 and 366.775, State may enter into cooperative agreements with counties and cities~for the performance of work on certain #ypes of ~ improvement projects with the allocation of costs on terms and conditions mutually agreeable to the contracting parties. NQW THEREFORE, the premises being in general as stated in the .foregoing RECITALS, it is agreed by and between the parties hereto as follows: TERMS OF AGREEfiAENT . ~ 1. Agency has submitted a completed and signed Part I of the Project Prospectus outlining the' schedule and costs associated with all phases of the Garden Way Improvements between Centennial Boulevard and Sisters mew Avenue, hereinafter referred to as Project". 2. To assist in funding the project, Agency has requested State to exchange 2000 . Federal Funds, which have been allocated to Agency, for State funds based on the • following ratio: $94 State for $100 Federal ' Based on this ratio, Agency wishes to trade $1,25b,444 Federal Funds for . $1,175,417 State Funds. 3. State has reviewed Agency's prospectus, considered Agency's request for. the fund exchange, and .has determined that Agency's project is eligible for the exchange funds. 4.. The term of this agreement shall begin on the date all required signatures are obtained and shalt terminate within two calendar years following that date, unless otherwise extended or renewed by formal agreement of the parties. .