Laserfiche WebLink
A detailed description of each of the Mount Vernon Corridor Projects is on file with the City <br />Engineer. <br />AGENCY FUNDING FOR MOUNT VERNON CORRIDOR PROJECTS. <br />The Agency hereby agrees to transfer from the Bond Proceeds Account to the <br />special fund established in Section 5 of this Agreement (the "Special Fund") the sum of Two <br />Million Three Hundred Forty Nine Thousand Six Hundred Ninety Seven Dollars ($2,349,697) to <br />pay for the acquisition, design, construction and installation of the Mount Vernon Corridor <br />Projects described in Section 2 as items (i) through (v), inclusive. This sum shall be payable at <br />the instruction of the Agency from the Special Fund to the City from time -to -time in <br />installments, as the work of improvement of each Mount Vernon Corridor Project progresses, as <br />set forth herein. <br />4. SCHEDULE OF IMPROVEMENT OF MOUNT VERNON CORRIDOR <br />PROJECTS. For each of the Mount Vernon Corridor Projects described in Section 2, the City <br />and the Agency agree that the work of improvement shall be accomplished in accordance with <br />the following schedule: <br />Mount <br />Public Works Plans and <br />Public Works <br />Public Works Project <br />Vernon <br />Specifications Completed <br />Contract Awarded by <br />Accepted by City <br />Corridor <br />and Public Works Project <br />City <br />from Contractor as <br />Project <br />Bidding Initiated by City <br />Complete <br />(i) <br />Completed <br />Completed <br />September 1, 2002 <br />(ii) <br />By August 1, 2002 <br />By October 1, 2002 <br />January 31, 2003 <br />(iii) <br />By September 1, 2002 <br />By November 1, <br />January 31, 2003 <br />2002 <br />(iv) <br />By June 1, 2003 <br />By September 1, <br />March 31, 2004 <br />2003 <br />(v) <br />Completed <br />Completed <br />By August 1, 2002 <br />CREATION OF MOUNT VERNON CORRIDOR PROJECTS SPECIAL FUND <br />(a) The City and the Agency hereby create a special fund entitled "Mount <br />Vernon Corridor Projects Special Fund" (the "Special Fund"). All sums deposited into the <br />Special Fund, plus interest earned on the invested balance of the proceeds of the Special Fund, <br />shall be used and applied solely for the purpose of paying for the cost of the acquisition, design, <br />construction and installation of the Mount Vernon Corridor Projects payable by the City under <br />one or more public works contracts and/or third party consulting engineer and construction <br />SB2002:1 OS53.1 <br />