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. i r <br /> the Recipient agrees to comply ���ith the follo��ving ECHO requirements pursuant to U.S. <br /> Department of the Treasury Circular 1075, Part 205, "Withdra���al of Cash from the Treasury for <br /> Ad��ances Under Federal Grants and Other Programs," and as established by the "Guidelines for <br /> Disbursements" set forth in the Go��ernment (FTA) ECHO System Operations Manual: <br /> (a) ?he Recipient may dra��� down cash only ���hen actually needed for immediate <br /> disbursement reGuired for Project purposes. Unless pro�•ided othen��ise by Federal law or <br /> regulation, the Recipient agrees to expend all Federal funds obtained under the Project for <br /> Project purposes no later than three (3) days after receipt of those funds. Failure to expend those <br /> Federal funds ���ithin three (3) days of their receipt or to return the funds to the Government <br /> ��•ithin a reasonable period, the failure by the Recipient to establish procedures that will <br /> minimize the time elapsing bet�ti�een cash advances and the disbursement shall cause the <br /> Government to revoke or temporarily suspend the Recipient's ECHO Control Number and the <br /> Recipient's access to the ECHO System. In addition, a Recipient's failure to adhere to these <br /> requirements may result in other remedies authorized by Federal ]aw or regulation. <br /> (b) The Recipient agrees to report its cash disbursements and balances in a timely <br /> manner as required b�� the Go��ernment. <br /> (c 1 The Recipient agrees to pro��ide for control and accountability for all Project funds <br /> consistent ��•ith Federal requirements and procedures for use of ECHO system. <br /> (d) The Recipient may not dra��� do���n funds for a project in an amount that would <br /> e�ceed the sum obligated b�� the Go��ernment or the current a��ailable balance for that Project. <br /> (e) The Recipient agrees to dra��� do��m funds only for eligible Project costs. <br /> (f) The Recipient agrees to refrain from dra���ing do�tim Federal assistance funds before <br /> they are needed for disbursement. If it should dra�i� do��m funds prematurely, the Recipient <br /> agrees to remit interest to the Go��ernment irrespecti��e of���hether it has deposited those funds <br /> in an interest-bearing account. The standards for determining the amount of interest due are set <br /> forth belo���: <br /> 1. A Recipient that is a state or state instrumentality will remit interest as required <br /> by Department of Treasury regulations, "Rules and Procedures for Funds Transfers ," 31 C.F.R. <br /> Part 205. <br /> 2. A Recipient that is not a state or state instrumentality will remit interest based on <br /> rates imposed by the U.S. Secretary of the Treasury, beginning an the fourth day after the funds <br /> ���ere deposited in the Recipient's bank or other financial depository, unless the Government <br /> ���ai��es its right to that interest.. <br /> (�) The Recipient agrees to adhere to and impose on its subrecipients all applicable <br /> requirements of Part II, Subsections ]07.b(1)(a), (b), (c), (d), (e), and (fj of this Agreement. <br /> Page 8 <br />