My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
R93-60 AUTHORIZING AN AGREEMENT WITH THE UNITED STATES DEPARTMENT OF TRANSPORTATION
COD
>
City Clerk
>
RESOLUTIONS
>
1993
>
R93-60 AUTHORIZING AN AGREEMENT WITH THE UNITED STATES DEPARTMENT OF TRANSPORTATION
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/18/2016 1:47:22 PM
Creation date
7/18/2016 1:47:17 PM
Metadata
Fields
Template:
Resolution/Ordinance
Res Ord Num
R93-60
Res Ord Title
AUTHORIZING AN AGREEMENT WITH THE UNITED STATES DEPARTMENT OF TRANSPORTATION FOR A FEDERAL TRANSIT ADMINISTRATION OPERATING ASSISTANCE GRANT FOR FY '93
Approved Date
5/3/1993
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
70
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
� . <br /> . ' <br /> f . Requirement to Remit Interest. The Recipient agrees <br /> that: <br /> � (1) Any interest earned by the Recipient on Federal <br /> funds must be remitted to the Government, except as provided <br /> by 31 U.S.C. § 6503, or the Indian Self-Determination Act, <br /> . 25 U.S.C. § 450 et �eg. , and any regulations thereunder that <br /> may be issued by the U.S. Secretary of the Treasury. <br /> (2) Irrespective of whether the Recipient has deposited <br /> funds in an interest-bearing account, the Recipient agrees to <br /> pay to the Government interest on any Federal funds that the <br /> Recipient has drawn down and failed to spend for eligible <br /> Project activities. Unless waived by the Government, <br /> interest will be calculated at rates imposed by the U.S. <br /> Secretary of the Treasury beginning on the fourth day after <br /> the funds were deposited in the Recipient's bank or other <br /> financial depository. This requirement does not apply to any <br /> Recipient that is a state, state instrumentality, or Indian <br /> Tribal Government, except as pennitted by regulations that � <br /> may be issued by the U.S. Secretary of the Treasury. <br /> (3) Upon notice by the Government to the Recipient of <br /> specific amounts due, the Recipient agrees to promptly remit <br /> to the Government any excess payment of amounts or disallowed <br /> costs, including any interest due thereon. <br /> g. De-obligation of Funds. The Government reserves the <br /> right to de-obligate unspent Federal funds prior to Project <br /> closeout. <br /> Section 108 . Right of the Government to Terminate. <br /> Upon written notice, the Recipient agrees that the Government <br /> may suspend or terminate all or part of the financial <br /> assistance provided herein if the Recipient has violated the <br /> terms of this Agreement, or if the Government determines that <br /> the purposes of the statute under which the Project is <br /> authorized would not be adequately served by continuation of <br /> Federal financial assistance for the Project. Any failure to <br /> make reasonable progress on the Project or other violation of <br /> the Agreement that significantly endangers substantial <br /> performance of the Project shall provide sufficient grounds <br /> for the Government to terminate this Agreement. <br /> In general, termination of any financial assistance under <br /> this Agreement will not invalidate obligations properly . <br /> incurred by the Recipient and concurred in by the Government <br /> before the termination date, to the extent those obligations <br /> cannot be cancelled. However, if the Government determines <br /> Page 13 <br />
The URL can be used to link to this page
Your browser does not support the video tag.