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City of tugene Contract#'LUU1-uu~11 <br /> October 18, 2000 Misc. Contracts and Agreements <br /> No. 18,682 <br /> 2000 FUND EXCHANGE AGREEMENT <br /> City of Eugene <br /> Garden Way Improvements <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 190.110, 366.770 and 366.775, State may enter <br /> into 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 Garden Way <br /> Improvements between Centennial Boulevard and Sisters mew Avenue, hereinafter <br /> referred to as "Project". <br /> 2. To assist in funding the project, Agency has requested State to exchange 2000 <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 /> Based on this ratio, Agency wishes to trade $1,250,444 Federal Funds for <br /> $1,175,417 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 /> <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 format agreement of the parties. <br /> <br />