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Whereas, MTC requires, as part of the application, a resolution stating the <br /> following: <br /> 1) the commitment of necessary local matching funds, if necessary; and <br /> 2) that the sponsor understands that the State Transportation Improvement <br /> Program funding is established at the programmed amount, and therefore <br /> any cost increase cannot usually be expected to be funded with State <br /> Transportation Improvement Program funds; and <br /> 3) the assurance of the sponsor to complete the project as described in the <br /> application, and if approved, as programmed in MTC's TIP. <br /> 4) that the sponsor understands that funds must be obligated within specific <br /> deadlines as set forth in SB45 or the project may be removed from the <br /> program. <br /> Now, therefore, be it resolved, by the City Council of the City of San Leandro, <br /> that the City Manager is authorized to execute and file an application for funding under <br /> the State Transportation Improvement Program of SB45 in the amount of$1,425,000.00 <br /> for street resurfacing; and <br /> Be it further resolved, that the City of San Leandro by adopting this resolution <br /> does hereby state that: <br /> 1) The City of San Leandro will provide $185,169 (11.5%) in local matching <br /> funds; and <br /> 2) The City of San Leandro understands that the State Transportation <br /> Improvement Program funding for the project is fixed at$1,425,000.00, <br /> and that any cost increases must be funded by the City of San Leandro <br />