Laserfiche WebLink
<br /> WHEREAS, Redwood City has been designated as manager and <br /> administrator of said ISTEA Funds; and <br /> WHEREAS, Redwood City desires to apply for additional TEA 21 Funds in <br /> the amount of One Hundred Fifty Thousand and No/100 Dollars ($150,000); and <br /> WHEREAS, The City of Burlingame desires to match the TEA 21 Funds <br /> up to the sum of One Hundred Fifty Thousand Dollars and No/100 ($150,000). <br /> WHEREAS, the additional funds of $150,000 and the City of Burlingame <br /> matching funds of $150,000 will be used to pay for the cost of work exceeding <br /> the existing project financing; and <br /> WHEREAS, In the event that the TEA 21 Funds are not available by April <br /> 15, 1999, the City of Burlingame desires to pay the City of Redwood City the sum <br /> of Three Hundred Thousand and No/100 Dollars ($300,000). <br /> NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES <br /> HERETO, AS FOLLOWS: <br /> 1. Redwood City shall apply for additional TEA 21 Funds in the sum of <br /> One Hundred Fifty Thousand and No/100 Dollars ($150,000). <br /> 2. The City of Burlingame agrees to match the TEA 21 Funds up to the <br /> sum of One Hundred Fifty Thousand and No/100 Dollars ($150,000) (the <br /> "Burlingame Contribution"). <br /> 3. In the event that the TEA 21 Funds are not available by April 15, 1999, <br /> the City of Burlingame agrees that it will pay the City of Redwood City the <br /> sh/RWC/Council/Agmt 2 <br /> Agmt-17B <br /> 02/15/99 <br /> 03/01/99 <br /> FXS/fs <br /> ..._..----- .-.-,-..---- ._-----------"""--,_._-,---_.._.._~_. <br />