R2014-96 APPROPRIATE FUNDS FOR THE IMPROVEMENT OF BUSINESS U.S. 51

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Eal-11BIT "A" 11"E'SOLU'T'ION NO. R2014-96 RESOLt7I0N TO APPROPRIATE FUNDS FOR TIM IMPROVEMENT OF TFIE BiJSINESS U.S. 51 OVER LADE DECATUR CITE' PROJECT 2074-22 NOVV THEREFORE, BE IT RE,SOLVED BY T IE CITY COUNCIL OF THE CITE' OF DECATUR, ILLINOIS: Section 1. That there is hereby appropriated the sum of$420,000.00, or so much thereof as may be necessary, ftom any money now or hereafter allotted to the City of Decatur to pay its share of the cost of this improvement as provided in the AGREEMENT: and Section 2. That the CITY of DECATUR will pay to the DEPARTMENT OF TRANSPORTATION of the. STATE OF ILLINOIS fi•om any funds allotted to the CITY the obligation incurred under this agreement in three annual izistallments. The first installment shall be 50% of the total obligation and shall not be due before January 1, 2015; the second installment shall be 25%, of the total obligation and shall not be due before January 1. 2016. The third installment shall be an amount equal to the remaining obligation incurred under this agreement, including adjustments for overage and underage and shall not be due before January 1. 2017. Section 3. That the CITY OF DECATUR agrees to pass a supplemental resolution to provide necessary funds for its share of the cost of this improvement if the amount appropriated herein proves to be insufficient to cover said cost. Section 4. That the. Clerk shall immediately transmit three (3) certified copies of this resolution to the district office of the Department of Transportation, at Effingham, Illinois. PRESENTED AND ADOPTED this 18th da y/bf August, 2014., ' Michael T. Mc oy, Mayor ATTEST: (SEAL) ZZ Linda M."Swartz,-C-its .lerh