SURFACE RD DOUGHERTY TASS - Laserfiche WebLink

(b) (e) A new suk follows: (f) acknowledges that $400,000 is a fair and reasonable estimate of the cost which DUBLIN may incur to mitigate the traffic impacts caused by such development. Subject to the terms of the BART/DUBLIN AGREEMENT, DUBLIN shall reimburse PLEASANTON for all COSTS OF CONSTRUCTION (as adjusted pursuant to Paragraph 8(a)) as provided herein upon the date of acceptance by DUBLIN of the TWO LANE ACCESS ROAD and the HACIENDA DRIVE EXTENSION. In the event that DUBLIN does not have proceeds with which to reimburse PLEASANTON fully on the date of acceptance of the TWO LANE ACCESS ROAD and the HACIENDA DRIVE EXTENSION, DUBLIN shall reimburse PLEASANTON to the extent that DUBLIN has such proceeds and DUBLIN shall reimburse or continue to reimburse PLEASANTON as such proceeds become available to DUBLIN until the COSTS OF CONSTRUCTION (as adjusted pursuant to Paragraph 8(a)), together with accrued interest, have been repaid in full. "Proceeds", as used in this subparagraph, refer to the proceeds described in subparagraph (a) above. For each year that the COSTS OF CONSTRUCTION (as adjusted pursuant to Paragraph 8(a)) are not reimbursed to PLEASANTON, the rate of interest to be paid under subparagraph (a) shall be, for each calendar year or part thereof, 7.487769 percent. Except as provided herein, DUBLIN shall have no obligation to pay PLEASANTON any monies on account of the performance by PLEASANTON of its obligations hereunder. )aragraph (f) is added to the Agreement to read as It is understood and acknowledged that any bonds issued by DUBLIN which are secured by assessments will be issued as tax exempt bonds. In the event that there are any changes in the Federal income tax laws which adversely affect DUBLIN's ability to issue tax exempt bonds the parties agree to negotiate in good faith to make necessary changes to this agreement. 5