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and services. As defined in §791.003 of the Texas Government Code, such governmental functions <br />and services include parks and recreation. <br />1.5 All of expenditures of the County and the City under this Agreement shall be paid <br />only from lawfully available current revenues. <br />1.6 This Agreement has been approved by the Hays County Commissioner's Court and <br />the San Marcos City Council as required by §791.011 of the Texas Government Code. <br />II. Term of Agreement. <br />This Agreement is made for a term beginning on August 2, 2022 and shall remain in effect <br />until the Property has been purchased by the City under the terms of its real estate purchase <br />agreement with the seller of the Property, such agreement is terminated before the purchase of the <br />Property closes, or until terminated by either Party under the terms of this Agreement. <br />III. City's Duties <br />In consideration of County's obligations under this Agreement, City shall: <br />a. Concurrent with or within 15 days after the effective date of this Agreement, <br />enter into an agreement with the seller of the Property for the City to Purchase the Property. <br />b. Contribute at least $1,900,000.00 USD to be applied toward the purchase <br />price for the Property, which shall represent funds that match the County's contribution of <br />funds under this Agreement ("Current Matching Funds"). The Current Matching Funds <br />shall be of a sufficient amount to pay for closing and other costs that are in addition to the <br />purchase price of the Property which shall be the sole responsibility of the City. In addition <br />to the Current Matching Funds, the City's estimatedinvestment in capital improvements <br />on the Property, as well as estimated operations expenses on the Property shall be counted <br />to calculate Total Matching Funds for the project'. <br />