Res 1997-194 - Laserfiche WebLink

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4. It ~s estimated that the Sponsor's share of the total project costs will be $80,000 (Amount D). The Sponsor specifically agrees that it shall pay any project costs which exceed the sum of the federal share (Amount C). It is further agreed that the Sponsor will reimburse the state for any payment or payments made by the State in behalf of the Sponsor which are in excess of the federal percentage of financial participation as heretofore stated in Paragraph 11-2. The State shall refund to the Sponsor, at the financial closure of the project, any excess funds provided by the Sponsor. 5. If there is an overrun in the total eligible project costs (Amount B), the State may increase the federal funds to cover the amount of overrun not to exceed the statutory fifteen (15%) percent federal funds limitation. The state may, at the request of the Sponsor, participate in additional eligible costs to the extent of the aforesaid appropriate percentages and subject to the availability of federal funds. Participation in additional federally eligible costs may require approval by the Texas Transportation Commission. The State will not authorize expenditures in excess of the dollar amounts identified in this Agreement and any amendments thereto, without the consent of the Sponsor. Payment of the United States share of the allowable project costs will be made pursuant to and in accordance with the provisions of such regulations and procedures as the State and the Federal Aviation Administration, hereinafter referred to as the "FAA", shall prescribe. Final determination of the United States share will be based upon the final audit of the total amount of allowable project costs and settlement will be made for any upward or downward adjustments to the Federal share of costs. 6. At project closeout, Sponsor will be credited the value of any approved in-kind contributions, and reimbursed for any credited amounts that exceed Sponsor's share. Following the execution of this Agreement, the Sponsor's shall submit the in-kind contribution documentation to the State. The value of all in-kind contributions made to the project of engineering design, small miscellaneous costs and other expenses approved by the State and claimed by the Sponsor as project costs for the purposes of determining the Sponsor's share of total project costs (Amount D), shall be determined according to federal and state rules, regulations, orders, procedures, advisory circulars or any other directives. Page 3 of 15