Res 2008-059 - Laserfiche WebLink

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5.3 City shall acquire, at its expense, all right of way necessary for construction of the City Segment. 5.4 City shall pay for relocation of utilities along the City Segment, if necessary. 5.5 City shall obtain, at its expense, environmental clearance of the City Segment. 5.6 City shall competitively bid and award a contract for construction of the City Segment that provides for its completion within 24 months of the Effective Date of this Agreement. The terms and conditions of the construction contract for the City Segment shall comply with all TxDOT requirements for federally funded highway projects, as applicable. 5.7 City hereby agrees that the four-lane portion of the City Segment that is located outside the corporate limits of San Marcos, Texas shall be dedicated to County for road maintenance upon completion. Article VI: County's Obligations -Completion of McCarty Lane -County Segment. 6.1 When the Conditions Precedent in Section 4.1 have been satisfied, County will be contractually obligated to City to perform the tasks set forth in this Article VI. 6.2 County will pay City the sum of Two Million Dollars in United States currency ($2,000,000 USD) to be used by City to construct the City Segment. This sum shall be paid by County to City at or about the time a construction contract for the City Segment is placed on the agenda of the San Marcos City Council for approval. The source of these funds shall be federal funds earmarked for FM 110 in San Marcos, Texas under the Safe, Accountable, Flexible, Efficient, Transportation Equity Act, Section 1702, High Priority Projects 196 and 5002.