R2012-184 AUTHORIZING INTERGOVERNMENTAL AGREEMENT - DECATUR PARK DISTRICT

Home Browse Search

- 2 - SECTION 2—DESIGN AND CONSTRUCTION City and Park will select the firm to design Part A, approve the design, and share equally in these costs and the costs of the construction of the improvements and facilities of Part A. Park shall be in charge of the construction of Part A. City may appoint a representative to participate in the construction of Part A. SECTION 3: OPERATION AND MANAGEMENT Park shall own, operate and manage the Part A improvements and facilities. SECTION 4: BUDGET AND REVENUE All revenue from Part A improvements and facilities shall be deposited in the Decatur Park District Nelson/Chandler/Lakefront Fund, and all expenses attributed to the operation, maintenance and repair of those improvements and facilities shall be paid out of this Fund. At the end of the fiscal year, any deficits will be covered equally by City and Park and any surplus shall be deposited in or remain in the Decatur Park District Nelson/Chandler/Lakefront Fund. Park shall not later than thirty(30) days prior to the commencement of each fiscal year submit to the City for approval a proposed operating budget for Part A setting forth all estimated receipts and disbursements relating to those improvements and facilities for the ensuing fiscal year. This operating budget as approved in writing by the City shall govern expenditures for the fiscal year and Park shall incur no expenses in connection with Part A that are not provided for in the approved budget. In the event that a submitted budget is not approved, City and Park shall meet and confer in good faith to secure an approved operating budget.