5658 AUTHORIZING AGREEMENT STATE OF ILLINOIS - CITY SECTION 2-72 TRAFFIC SIGNALS

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. * . � . . �� . . � . � J . • . . ' ' r l. The CITY agrees to make the surveys, prepare plans and specifications, furnish engineering inspection during the construction and cause the ' improvement to be built in accordance with the pians, specifications and contract, and to pay .aTl Engineeri�g costs, subject to reimbursement by the STATE as hereinafter stipulated. 2. The CITY agrees, upon completion of the improvement, to pay to the STATE its share of the cost of the improvement as provided herein 3. It is mutually agreed by and between tF►e parties hereto that the esti- mated cost of the improvement is as follows: Construction Costs $45,000.00 Engineering Costs (15%) $_ 6,750.00 TOTAL $ 51 ,750.00 4. The parties hereto mutually agree that the division of costs shall be as follows: Construction Federal State CjtY , TOTAL 50.34% i5.45% 3'�+.21% l00.001 The CITY agrees to reimburse the STATE for the above 34.21% of the con- struction costs upon approval of the final payment estimate, less $2, 100.00 (31% } of the estimated engineering costs) . The total cost to the CITY is estimated to be $20,000.00. Atl costs which are declared to be ineligible for Federal-aid participa- , tion shall be borne 100% by the CITY. • 5. Upon completion of the improvement and so long as the street is used as a CITY Street, the CITY agrees to maintain or cause to be maintained the im- provement and furnish the energy for the operation of a11 traffic signais. 7he STATE retains the right to control the sequence and timing of the traffic signals located on STATE mai�tained highways. �2)