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<br />shall not constitute approval by Authority of the change order nor obligate Authority to provide <br /> <br />funds in excess of its maximum contribution stated in Section 1.1 of this Agreement. <br /> <br />2.5 <br /> <br />Progress Reports. City shall prepare and submit to the Authority <br /> <br />monthly progress reports by the flrst day of each month as the Project proceeds. The reports <br /> <br />shall describe the current status of the Project and describe the work performed during the <br /> <br />previous month. The reports shall also include a general summary of contract administration <br /> <br />statistics, such as monthly progress payments billed, payments received, contract change <br /> <br />orders, and total accumulated costs of contract change orders. The reports shall include <br /> <br />actions expected to be taken and costs projected to be expended during the next three months, <br /> <br />and any projected changes in the Work Plan, and any other information requested by the <br /> <br />Authority . <br /> <br />2.6 <br /> <br />Accounting: Procedures. City, in coordination with the Authority, shall <br /> <br />establish a Project accounting process which tracks and reflects the accumulation of costs for <br /> <br />all work to be fmanced with Measure A Funds pursuant to this Agreement. <br /> <br />2.7 <br /> <br />Invoices: Payments. City shall prepare and submit monthly billing <br /> <br />statements to the Authority for Measure A funds to pay for the Project as contemplated by this <br /> <br />Agreement. The Authority shall disburse the funds requisitioned for approved Project costs in <br /> <br />a timely manner, and in any case within thirty (30) days after receipt of each approved billing <br /> <br />statement, subject to Authority's maximum contribution as established in Section 1.1 above. <br /> <br />The Authority's obligation to reimburse funds to the City as provided in this section shall be <br /> <br />conditioned upon the Authority's prompt receipt of monthly progress reports from City for the <br /> <br />reimbursement period, or any past reimbursement period, as such reports are required by <br /> <br />Section 2.5 above. <br /> <br />-4- <br /> <br />631214.2 <br />