AgdaPkt 2006-07-24 - Laserfiche WebLink

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5.3A Page 3 1. the commitment of necessary local matching funds of at least 11.47%; and 2. that the sponsor understands that the Surface Transportation Program and Congestion Mitigation and Air Quality Improvement Program funding is fixed at the programmed amount, and therefore any cost increase cannot be expected to be funded with Surface Transportation Program or Congestion Mitigation and Air Quality Improvement Program funds; and 3. the assurance of the sponsor to complete the project as described in the application, and if approved, as programmed in MTC's TIP; and 4. that the sponsor understands that funds must be obligated by June 30 of the year that the project is programmed for in the TIP, or the project may be removed from the program; and 5. that the sponsor has a certified Pavement Management System (PMS). NOW, THEREFORE, BE IT RESOLVED by the City Council that the City of Redwood City is authorized to execute and file an application for funding under the Surface Transportation Program of the City of Redwood City SAFETEA in the amount of ($900,000.00 STP request) for (Street Overlay - Alameda de las Pulgas & Bay Road); and BE IT FURTHER RESOLVED that the City Council, by adopting this resolution, does hereby state that: 1. The City of Redwood City will provide ($900,000.00) in non-federal matching funds; and 2. The City of Redwood City understands that the Surface Transportation Program and Congestion Mitigation and Air Quality Improvement Program funding for the project is fixed at ( $900,000.00), and that any cost increases must be funded by the City of Redwood City from local matching funds, and that the City of Redwood City does not expect any cost increases to be funded with Surface Transportation Program or Congestion Mitigation and Air Quality Improvement Program funds; and ATTYIRESO/RESO.1634 071806 2 _.