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RESOLUTION 2012 -124R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AN ADVANCE FUNDING AGREEMENT BETWEEN THE CITY AND THE STATE OF TEXAS ACTING THROUGH THE TEXAS DEPARTMENT OF TRANSPORTATION FOR THE DESIGN AND CONSTRUCTION OF INTERSECTION IMPROVEMENTS TO LOOP 82 AND TO STATE HIGWAY 80 AT EACH INTERSECTION WITH INTERSTATE HIGHWAY 35 AT AN ESTIMATED COST OF $6,693,518.00 OF WHICH $79,600.00 IS THE CITY'S RESPONSIBILITY; REPEALING RESOLUTION NO. 2012 -90R AND RESCINDING APPROVAL OF THE AFA ASSOCIATED WITH RESOLUTION NO. 2012 -90R; AUTHORIZING THE CITY MANAGER TO EXECUTE THIS AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. 1. On July 31, 2012, the City approved an Advance Funding Agreement ( "AFA ") with the Texas Department of Transportation ( "TxDOT ") for intersection improvements to Loop 82 and State Highway 80, CSJ Nos. 0016 -09 -037 and 0286 -01 -053, however, this AFA was never executed by TxDOT. 2. TxDOT has since revised the Agreement to include costs associated with off - system improvements addressing work outside of TxDOT right -of -way. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. Resolution No. 2012 -90R approving an AFA with TxDOT for intersection improvements to Loop 82 and State Highway 80, CSJ Nos. 0016 -09 -037 and 0286 -01 -053 is repealed and approval of the AFA associated with Resolution No. 2012 -90R is rescinded. PART 2. The attached Advance Funding Agreement for intersection improvements to Loop 82 and State Highway 80, CSJ Nos. 0016 -09 -037, 0286 -01 -053 and 0914 -33 -066, between the City of San Marcos and the State of Texas, acting through the Texas Department of Transportation is approved. City. PART 3. The City's expenditure of $79,600.00 in Local Participation costs is approved. PART 4. The City Manager is authorized to execute the Agreement on behalf of the PART 5. This Resolution shall be in full force and effect immediately from and 1