|
MTC/City of San Leandro
<br />Master Funding Agreement for FY 2021-22 to FY 2030-31
<br />Page 43
<br />
<br />
<br />option) based on MTC’s share of the fair market value of the facilities and equipment at the time the
<br />public transportation uses ceased, which sum shall be paid back to MTC in the same proportion that
<br />RM1, RM2 and/or AB 1171 funds, as applicable, were originally used.
<br />
<br />K. AGENCY shall post on both ends of the Project construction site(s), unless prohibited by the site
<br />owner if such owner is not the AGENCY, at least two signs visible to the public stating that the Project
<br />is funded with RM1, RM2 and/or AB 1171 funds, as applicable.
<br />
<br />L. AGENCY’s City Manager, General Manager, Executive Director, Chief Executive Officer, or
<br />equivalent officer, or designee, is delegated the authority to make non-substantive changes or minor
<br />amendments to the initial project report as he/she deems appropriate; otherwise, Article 7,
<br />AMENDMENTS, of this Agreement applies.
<br />
<br />M. AGENCY agrees to comply with the provisions of MTC Resolution No. 3636, Revised, and the
<br />MTC Resolutions set forth in Attachment C, MTC Resolution(s) Approving Project Request.
<br />
<br />II. MTC AGREES
<br />
<br />A. MTC agrees to provide AGENCY with RM1, RM2 and/or AB 1171 funds, as applicable, within
<br />the allocation amounts in Attachment C, MTC Resolution(s) Approving Project Request and as restated
<br />in the relevant Supplement for the purpose of funding the Project as described in Attachment A.
<br />
<br />The entire funding amount is available for reimbursement based on the schedule included in Attachment
<br />E, Reimbursement Schedule, to the applicable Supplement. In addition, if applicable, MTC agrees to
<br />support AGENCY’s allocation request from the State according to the Allocation Request Schedule
<br />provided in Attachment F to the applicable Supplement.
<br />
<br />In the event AGENCY does not use all RM1, RM2 and/or AB 1171 funds, as applicable, made available
<br />in a given fiscal year, those unused amounts will be available for reimbursement in subsequent year(s) for
<br />the duration of this Agreement.
<br />
<br />III. IT IS MUTUALLY AGREED
<br />
<br />A. MTC may terminate the applicable Supplement, in its sole discretion, for any force majeure event,
<br />including but not limited to any earthquake, flood or other natural disaster, any epidemic, blockade,
<br />rebellion, war, act of sabotage or civil commotion, fire, explosion or strike, or prolonged economic
<br />conditions affecting the ability of the Bay Area Toll Authority to make payments to bond holders who
<br />shall in all circumstances have priority to payment of funds, if such event (i) irrecoverably disrupts or
<br />renders impossible AGENCY’s performance hereunder; or (ii) disrupts MTC’s ability to make payments
<br />hereunder. If MTC so terminates the applicable Supplement, AGENCY will be entitled to payment for
<br />non-recoverable Project costs incurred prior to the date of such termination, including but not limited to
<br />any amounts AGENCY owes to the owner of the Project construction sites, if such owner is not AGENCY,
<br />up to the maximum amount payable under this Agreement.
<br />
<br />B. If AGENCY fails to perform as specified in this Agreement and the applicable Supplement, MTC
<br />may terminate the applicable Supplement or this Agreement for cause. Termination shall be effected by
<br />416
|