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City of Eugene/ODOI°.' . <br /> Agreement No. 22,11 ~r ` <br /> AGENCY OBLIGATIONS <br /> FINANCE <br /> 22,. Federal funds shall be applied toward project costs at the current federal-aid matching ratio, <br /> unless otherwise agreed and allowable by law.. Agency shall be responsible for the entire <br /> match amount, unless otherwise agreed to and specified in the intergovernmental <br /> agreement. <br /> 23. Agency's estimated share and. advance deposit. <br /> A. Agency shall, prior to commencement of the preliminary engineering and/or right-of-way <br /> acquisition phases, deposit with State its estimated share of each phase. Exception may <br /> be made in the case of projects where Agency has written approval from the State to <br /> ,use in-kind contributions rather than cash to satisfy all or part of the matching funds <br /> requirement. <br /> B. Agency's construction phase deposit shall be 110 percent of Agency's share of the <br /> .engineer's :estimate and shall be received prior to award of the bid. Any additional <br /> balance of the deposit, based on the actual bid must be received within 45 days of <br /> receipt of written notification by the State of the final amount due, unless the contract is <br /> canceled. Any unnecessary balance of a cash deposit, based on the actual bid, will be <br /> refunded within 45 days of receipt by the State of the project sponsor's written request. <br /> C. Pursuant to ORS 366.425, the advance deposit may be in the form of 1) money <br /> deposited in the State Treasury (an option where a deposif is made in the Local <br /> Government Investment Pool, and an Irrevocable Limited Power of Attorney is sent to <br /> the Highway Finance Office), or 2) an Irrevocable Letter of Credit issued by a local bank <br /> in the name of State, or 3) cash. <br /> D. Agency may satisfy all or part of any matching funds requirementsby use of in-kind <br /> contributions rather than cash when prior written approval has been given by State. <br /> 24. If the estimated cost exceeds the total matched federal funds available, Agency shall <br /> deposit its share of the required matching funds, plus 100 percent of all costs in excess of <br /> the total matched federal funds. Agency shall also pay 100 percent of the cost of any item <br /> in which the FHWA will not participate. If Agency has not repaid any non-participating cost, <br /> future allocations of federal funds, or allocations of State Highway Trust Funds, to that <br /> Agency may be withheld to pay the non-participating costs. If the State approves <br /> processes, procedures, or contract administration outside the Local Agency Guidelines that <br /> result in items being declared non-participating, those items will not result in the withholding <br /> of Agency's future allocations of federal funds or the future allocations of State Highway <br /> Trust Funds. <br /> <br /> 25. Costs incurred by the State and Agency for services performed in connection with any <br /> phase of the project shall be charged to the project, unless otherwise mutually agreed upon. <br /> 11 <br /> <br />