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10/25/2004 <br />WHEREAS, MTC requires, as part of the application, a resolution stating the <br />following: <br />A. The commitment of necessary local matching funds of at least <br />11.47% of the project costs; and <br />B. That the sponsor understands that the STP and CMAQ funding is <br />fixed at the programmed amount, and therefore any cost increase cannot be <br />expected to be funded with STP or CMAQ funds; and <br />C. The assurance of the sponsor to complete the project as described <br />in the application, and if approved, as programmed in MTC's TIP; and <br />D. That the sponsor understands that funds must be obligated by June <br />30 of the year that the project is programmed for in the TIP, or the project may be <br />removed from the program, and <br />E. That the sponsor has a certified Pavement Management System. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council that the City of <br />Redwood City: <br />1. That the City Manager or his/her designee is authorized to execute and <br />file an application for funding under the STP of TEA -21 Reauthorization in the amount of <br />Three Hundred Sixty Five Thousand and No /100 Dollars ($365,000.00) for the Project. <br />2. That the City will provide Eighty Five Thousand and No /100 ($85,000.00) <br />in non - federal matching funds for the Project, which said funds constitute at least <br />11.47% of the Project costs. <br />3. That the City understands that the STP is fixed at $365,000.00, that any <br />cost increases must be funded by the City from local matching funds, and that the City <br />does not expect any cost increases to be funded with STP funds. <br />4. That the Project will occur as described in this resolution and if approved, <br />will occur for the amount shown in the MTC TIP with obligation occurring within the <br />timeframe established below. <br />5. That the program funds for the Project are expected to be obligated by <br />June 30 of the year the Project is programmed for in the TIP. <br />6. That the City has a certified Pavement Management System. <br />7. That the City is an eligible sponsor of projects in the STP. <br />Atty /Reso/ Reso.1498 14613 <br />102004 2 Muff # 701 <br />