Res 2009-011 - Laserfiche WebLink

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4.5 City hereby represents that County's grant of funds cited in Section 3.2(c) shall be matched by one source of Matching Funds: at least Three Million, One Hundred Thousand Dollars in United States currency ($3,100,000.00 USD), consisting of 1) proceeds of certificates of obligation to be issued on or before the time work on Projects commences, and/or 2) City funds already expended on the Projects, and with receipts or proofs of payment evidencing, to the satisfaction of County, that those funds were expended on the Projects. 4.6 In regard to any Property that is being credited for "In- Kind" match under this Agreement, if any, the City hereby represents that it has not previously used any of that Property as "In- Kind" match under any other agreement or grant program. V. County's Rights and Duties. 5.1 Subject to the conditions precedent cited in Article VI of this Agreement, County shall pay City an amount not to exceed Two Million, Four Hundred Thousand Dollars in United States currency ($2,400,000.00 USD) in Bond Funds, which are lawfully available current funds, for the construction of the Projects, to be paid in lump sum within fifteen (15) business days of the beginning date of this Agreement cited in Section 2.1, above. Subject to the conditions precedent cited in Article VI of this Agreement, County shall reserve and pay Contractor(s) an amount not to exceed Seven Hundred Thousand Dollars ($700,000.00 USD) in Bond Funds, which are lawfully available current funds, for the Construction of Project #1: Five Mile Dam Park Improvements. 5.2 County shall, upon ten (10) days' written notice to City, have a right to inspect all receipts, invoices, proofs of purchase, and records of expenditures related to the Projects. County's rights under this Section shall extend until three (3) years after the cited in Sections 4.4 and 3.2(g), above.