Res 2023-001/approving an Interlocal Agreement with Hays County providing for the County to fund $2,000,000.00 toward the purchase of easements and right-of-way for the Purgatory Creek Improvements Project

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L Prior to any closing on the purchase of a real property interest for the Project, provide a draft copy of the proposed instrument conveying the real property interest to the City that includes a restriction running with the land as may be required by the County to meet the purposes of the Bond Funds.Closing of the purchase of the Property shall not occur until the County's general counsel has approved the form of instrument in writing to the City and the title company. Notwithstanding the foregoing, the General Counsel for the County and the City Attorney may pre-approve forms of instrument to be used for all purchases required for the Project. IV. County's Rights and Duties. In consideration of the City restricting the Property for use for the purposes of the Bond Funds and contributing the Matching Funds,the County shall: a. Contribute up to $2,000,000.00 in Bond Funds for the purchase of real property interests and associated expenses for the Project. The County's contribution will be incrementally drawn down as funding draw requests from the City are paid each quarter. b. Within 30 days after receipt of receipt of a quarterly funding draw request from the City, accompanied by documentation confirming the City's expenditures sought to be reimbursed under the funding draw request,issue a check or wire transfer funds drawn from the Bond Funds in the amount of the funding draw request to the City. C. Upon three days' written notice to City, have a right to inspect all receipts, invoices, proofs of purchase, and records of expenditures listed in a funding draw request from the City when such information was not already provided by the City with a funding draw request.