Laserfiche WebLink
J <br />_ I <br />Centennial Bike Trail is located at 3000 Centinella Road, <br />Santa .Ana, California. <br />II <br />The parties hereto agree that the cost of development, in- <br />stallation and grading of a 10' x 2680' asphalt bike trail, for <br />recreational use regarding the project site described in para- <br />graph I above shall be equally divided between, the CITY and the <br />COUNTY and the CITY shall pay 50o of the project cost, or Six <br />Thousand Two Hundred Fifty Dollars ($6,250), and the COUNTY shall <br />pay 50% of the entire cost, or Six Thousand Two Hundred Fifty <br />Dollars ($6,250) or a lesser amount, if the CITY'S cost of develop- <br />ment after the date of the agreement decreases. CITY shall be <br />responsible for the cost of overhead, operation and maintenance; <br />such costs are not to be included in this joint funding agree- <br />ment.. Monthly payments by the COUNTY, based on actual expendi- <br />tures, shall be made upon tender of invoices and proper documen- <br />tation of accounting and with the approval of the County Adminis- <br />trative Office. <br />III <br />The CITY'S source of funds for its share of the project cost <br />is derived from its participation in the Federal Revenue Sharing <br />Program. <br />Iv <br />For the purpose of this agreement the Centennial Bike Trail <br />shall be completed no later than December 31, 1974, and all funds <br />received under this contract shall be disbursed or encumbered on <br />or before that date. <br />V, <br />