Laserfiche WebLink
Satisl <br />Pro!e <br />provi <br />the ir <br />Partic <br />to cal <br />to A( <br />Partk <br />paym <br />by Pa <br />Agree <br /> <br />Short <br />specit <br /> <br />less t] <br />cumu <br />recei~ <br />a sho <br /> <br />The q <br /> <br />short <br />for wi <br /> <br />If the <br />shortl <br /> <br />If mo <br />shonl <br />cum' <br />that <br />perce: <br />short1 <br /> <br />Whei <br />deck <br /> <br />Joint Exercise of Powt <br />TVTD Fees for Traffi, <br /> <br />action of Local Match Agreements for the 580/680 Interchange <br />:t. Several of the Parties have individual agreements with ACTA to <br />te Local Match Funds for the 580/680 interchange project. It is <br />tent of all of the Parties that the TVTD Fees collected by the <br />s shall be used to satisfy these Local Match Agreements. In order <br />ry out this intent, the Treasurer, as part of the quarterly payments <br />:TA described in Section 7.a, shall provide ACTA and each of the <br />s with an accounting tracking each Party's total cumulative <br />ants until ACTA has received $5,548,300, less any contributions <br />rties subject to reimbursement pursuant to Section 7.d of this <br />ment. <br /> <br />fall in Pa.vments to ACTA. The purpose of this subsection is to <br />how a shortfall will be funded. <br /> <br />end of any fiscal year, if ACTA has received (via the Treasurer) <br />tan the total cumulative amount (up to and including the <br />[ative amounts for that fiscal year) that ACTA should have <br />ed from Parties with Local Match Agreements, ACTA shall declare <br />'tfall and shall notify the Treasurer. <br /> <br />'reasurer and ACTA shall determine which Party (or Parties) is <br />in its cumulative Local Match obligation through the fiscal year <br />rich there is a cumulative shortfall. <br /> <br />:e is only one Party that is short, that Party shall fund the <br />all. <br /> <br />;e than one Party is short, then those Parties shall fund the <br />all as follows: The amount of each Party's shortfall in its <br />ative Local Match obligation shall be compared to the amount of <br />'arty's cumulative Local Match obligation, expressed as a <br />~tage. That percentage shall be multiplied by the amount of the <br />all in order to determine each Party's share of the shortfall. <br /> <br />ACTA receives monies from the Party (Parties), ACTA shall <br />the shortfall funded. <br /> <br />; Agreement <br />Mitigation <br /> <br />Page 8 of 21 <br />June 2, 1998 <br /> <br /> <br />