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Agency City of Eugene/ODOT <br /> Agreement No. 21639 <br /> i <br /> inflationary cost increases associated with the approved project(s)), the excess <br /> funds must be remitted to ODOT within 90 days of project completion. <br /> 5. ODOT's Program Liaison for this Grant Agreement is: Local Government Section <br /> Manager, 355 Capitol Street NE, Room 222, Salem, OR 97301-3871; 503-986- <br /> 3789. <br /> AGENCY OBLIGATIONS: <br /> 1. Agency represents that it is fully capable of constructing the project, or capable of <br /> contracting for construction of Agency Project, and that there is a reasonable <br /> expectation that Agency Project can be completed by Agency with the resources <br /> identified in this Agreement within the time period set forth in this Agreement. <br /> <br /> .i <br /> 2. Agency shall complete the Agency Project, as defined in Exhibit A as expeditiously <br /> as reasonably possible and generally follow the schedule set forth in Exhibit A for <br /> each bridge. Agency shall spend the grant funds in a manner consistent with the <br /> provisions of this Agreement. <br /> 3. Agency understands and agrees that no costs or expenditures made by Agency <br /> prior to the execution of this Agreement are considered Agency Project costs, and <br /> grant funds may not be used for any costs so incurred prior to such date. <br /> 4. Administration of Agency Project Fund. Agency agrees to administer the Agency <br /> Project grant funds by establishing and managing an Agency Project Fund as <br /> j provided below: <br /> i <br /> (a) Agency Proiect Fund Establishment. Agency shall establish a fund, <br /> separate and distinct from its general fund, to account for all Agency Project <br /> Funds received and all Agency Project Costs expended by Agency under <br /> this Agreement. Agency shall manage the Agency Project Fund consistent <br /> with all applicable State and Federal laws and in the manner it determines <br /> best meets the needs of the Agency Project. <br /> (b) Disbursements. Moneys (including investment earnings) in the Agency <br /> Project Fund shall be disbursed from time to time by Agency for the purpose <br /> of paying, when due, Agency Project Costs. <br /> (c) Investments. Pending disbursements, moneys in Agency Project Fund shall <br /> be invested and reinvested consistent with State law and Agency practice, <br /> subject to the terms and provisions of this Agreement. To the extent <br /> permitted by law, moneys in the Agency Project Fund may be co-mingled <br /> with other Agency moneys for the purpose of investing and reinvesting such <br /> moneys, provided, however, that investment earnings derived from moneys <br /> in the Agency Project funds shall be accounted for separately from other <br /> 2003 OTIA Program IGA page 3 of 9 <br /> <br />