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2.03. Construction. Upon agreement between the authorized representatives of the <br />Parties, following approval by the parties of the specifications and cost estimates under section <br />2.02, the City will solicit bids for construction of the Extension Improvements under applicable <br />municipal bidding procedures. The final bid price for any contract proposed to be awarded shall <br />be approved by the Parties, after which time the City shall initiate the process for award of the <br />construction contract by the San Marcos City Council. <br />2.04. Cost Participation. Texas State agrees to share in the costs for professional <br />engineering service provided by the Engineer for and the costs for construction of the Extension <br />Improvements in the percentages and amounts shown in Exhibit A, attached hereto and made a <br />part hereof. <br />a. Outside Agency Funding. Funding from TWDB and EAA has been <br />provided for design costs associated with the Extension Improvements and may be <br />provided for construction costs as well. To the extent such funds can be applied toward <br />the costs for the professional services provided by the Engineer or the construction <br />contractor, the amounts owed by Texas State may be reduced by a percentage of the <br />outside agency funding amount equal to percentages of Texas State's participation shown <br />in Exhibit A. <br />b. Adjustments in Cost. The actual amount payable by Texas State under <br />this section may be adjusted based upon actual authorized costs charged by the Engineer <br />or the contractor for construction pursuant to the terms of the construction contract <br />awarded by the City, applying the same percentages of participation shown in Exhibit A. <br />C. Payment. Texas State will pay any amounts due within 30 days after <br />receipt of an invoice from the City for costs incurred by the City for professional services <br />