HomeMy WebLinkAbout1994-07 Accepting a Grant for Federal-Aid Off-System Funding for Reconstructing Vail-Vail Valley Bridge 1RESOLUTION N0.7
SERIES OF 1994
A RESOLUTION ACCEPTING A GRANT FOR
FEDERAL-AID OFF-SYSTEM FUNDING FOR RECONSTRUCTING
NAIL-NAIL VALLEY BRIDGE-1.
WHEREAS, the Town of Vail shall enter into a contract with the State of Colorado,
Department of Transportation, to participate in a federally funded project to reconstruct Vail-Vail
Valley Bridge-1; and,
WHEREAS, the total cost of the preliminary engineering and construction of the project
are to be funded as follows:
a) Federal participating funds
80% of $323,530)
b) Local Agency Share
1) Local Agency participating funds
20.0% of $323,530)
2) The Local Agency non-participating
funds for indirect costs incurred
by the Local Agency and/or the
State {$2% of $323,530)
SUBTOTAL (LOCAL AGENCY SHARE)
TOTAL PROJECT FUNDS
253,824
64,706
6,470
71,176
330,OQtf
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado,
as follows:
1. The Town Cauncil approves the matching of said Federal funds with Town funds
in an 80% to 20% match. The Town Council has appropriated the sum required for the local
agency share in the 1994 Budget.
2. That the Town Council hereby finds, determines, and declares that this resolution
is necessary and proper for the health, safety, and welfare of the Town of Vaii and the inhabitants
thereof.
3. That this resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of February, 1994.
MargaF~t A. Osterfoss, Mayor
ST:
OL(c,E^liQ7r1~C
Holly L. Mc~utcheon, Town Cleric
Resvlulian No. 7, Ssies d 1994