New Search
February 2, 2000 <br /> Misc. Contracts and Agreements <br /> No. 17935 <br /> 1999 FUND EXCHANGE AGREEMENT <br /> CITY OF EUGENE <br /> THIS AGREEMENT is made and entered into by and between the' STATE OF <br /> OREGON, acting by and through its Department of Transportation, hereinafter referred <br /> to as "State', and the CITY OF EUGENE acting by and through its elected officials, <br /> hereinafter referred to as "Agency". <br /> RECITALS <br /> 1. By the authority granted in ORS 366.770 and 366.775, State may enter into <br /> cooperative agreements with counties and cities for the performance of work on <br /> certain types of improvement projects with the allocation of costs on terms and <br /> conditions mutually agreeable to the contracting parties. <br /> NOW THEREFORE, the premises being in general as stated in the foregoing <br /> RECITALS, it is agreed by and between the parties hereto as follows: <br /> TERMS OF AGREEMENT ~ <br /> 1. Agency has submitted a completed and .signed Part I of the Project Prospectus <br /> outlining the schedule and costs associated with all phases of the Neighborhool <br /> Transportation Improvements, hereinafter referred to as "Project". <br /> 2. To assist in funding the project, Agency has requested State to~exchange 1999 <br /> Federal Funds, which have been allocated to Agency, for State funds based on the <br /> following ratio: <br /> $94 State for $100 Federal ~ <br /> <br /> . Based on this ratio, Agency wishes to trade $160,000 Federal Funds for $150,400 <br /> State Funds. <br /> 3. State has reviewed Agency's prospectus, considered Agency's request for the fund <br /> exchange,. and has determined that Agency's project is eligible for the exchange <br /> funds. <br /> 4. The term of this agreement shall begin on the date all required signatures 'are <br /> obtained and shall terminate within two calendar years following that date, unless <br /> otherwise.extended or renewed by formal agreement of the parties: . <br /> <br />