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EXIIII31T "A" <br /> R,ESOLtJTION NO. R2014-96 <br /> P-E,SOLUTION TO APPROPI:jATE FITNI)S ICOR THE IMPROVEMENT <br /> OF THE BUSINESS U.S. 51 OVER LADLE DECATEIR <br /> CITY PROJECT2014-22 <br /> NOVA' THEREI+OP,E, BE IT RESOLVED EY THE CITE' COUNCIL Or THE CIT1 <br /> OF DECATUR, ILLINOIS: <br /> Section 1. That there is hereby appropriated the sum of',$420,000.00, or so much thereof as <br /> may be necessary, from any money now or hereafter allotted to the City of'Decatur to pay its sharee,. <br /> of the cost of this improvement as provided in the AGREEMENT: and <br /> Section '-). That the CITY of DECATUR will pay to the DEPARTMENT OF <br /> TRANSPORTATION of the STATE OF ILLINOIS fi-om any funds allotted to the CITY the <br /> obligation incurred under this agreement in three annual installments. The first installment shall be <br /> 50% of the total obligation and shall not be due before January 1, 2015; the second installment shall <br /> be 25°io of the total obligation and shall not be due before January 1, 2016. The third installment <br /> shall be an amount equal to the remaining obligation incurred under this agreement, including <br /> adjustments for overage and underage and shall not be due before,January 1, 2017. <br /> Section 3. That the CITY OF DECATUR agrees to pass a supplemental resolution to <br /> provide necessary funds for its share of the cost of this improvement if the amount appropriated <br /> herein proves to be insufficient to cover said cost. <br /> Section 4. That the Clerk shall immediately transmit three (3) certified copies of this <br /> resolution to the district office of the.Department of Transportation, at Effingham, Illinois. <br /> PRESENTED AND ADOPTED this 18th da of August, 2014., <br /> i <br /> Michael T. Mc doy. Mayor <br /> ATTEST: (SEAL) �_ f <br /> \�- Linda M."Swartz, C.i1) .Jerk <br />