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AG19901217
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AG19901217
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Last modified
3/28/2003 9:14:34 AM
Creation date
11/27/2017 12:06:07 PM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
12/17/1990
Board
Board of Commissioners
Meeting Type
Regular
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Page 3 of 15 <br /> <br /> Section 4. Period of Performance. The Contractor shall commence, <br /> carry on, and complete the Project as described in the Approved Project <br /> Budget by June 30, 1992. This Agreement shall remain in effect until the <br /> Contractor has satisfactorily disposed of all project equipment in <br /> accordance with Sections lq and 15 of this Agreement. <br /> <br /> Section 5. Cost of Project. The total cost of the Project, approved <br /> by the Department and UMTA, is SIXTY-SEVEN THOUSAND, NINETy-FIVE DOLLARS <br /> ($67,095) as set forth by Appendix A, Project Description and Budget. <br /> <br /> (al State Share. The Department shall provide, from federal and State <br /> funds, eighty (80%) percent of the actual net cost of the Project, not in <br /> excess of FIFTY-THREE THOUSAND, SIX HUNDRED SEVENTY-SIX DOLLARS ($53,676). <br /> <br /> {b) Local Share. The local share must be provided from source other <br /> than federal funds, except where specific legislative language of a federal <br /> program permits its funds to match other federal funds. The Contractor <br /> <br /> hereby agrees that it will provide twenty (20%) percent of the actual net <br /> cost of the Project. The net cost is the price paid minus any refunds, <br /> rebates, or other items of value received by the Contractor which have the <br /> effect of reducing the actual cost. The Contractor shall initiate and <br /> prosecute to completion all actions necessary to enable the Contractor to <br /> <br />m provide its share of Project costs at or prior to the time that such funds <br /> are needed to meet Project costs. <br /> <br />mThe Contractor shall provide its share of Capital costs from sources <br />other than UMTA funds. <br />m (c) capital Expenditures. In order to assist the Contractor in <br /> financing the capital costs of the Project, the Department will reimburse <br />m the Contractor for eighty (80%) percent of allowable capital costs not in <br /> <br />m excess of FIFTY-THREE THOUSAND, SIX HUNDRED SEVENTY-SIX DOLLARS ($53,676). <br /> <br /> <br />
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