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submit a billing to the Agency for payment for services <br />formed and costs incurred to that dat~, together with a <br />fication of costs showing the cost to City based on: <br /> <br /> (1) City's payment(s) to the contractor(s) <br /> the work; <br /> <br /> (2) City's design and supervision costs; <br /> <br /> (3) City's right-of-way acquisition costs, <br /> and <br /> <br /> (4) Accrued interest. <br /> Thereafter, <br /> <br />monthly basis for <br /> <br />billings <br />services <br /> <br />shall be submitted <br />performed and costs <br /> <br />the previous <br /> <br />the pre~ious month. <br /> <br /> Agency shall <br />of the date of each <br /> <br />per- <br />certi- <br /> <br />who perform(s) <br /> <br />if applicable; <br /> <br />to Agency on a <br />incurred during <br /> <br />month together with such certification of costs for <br /> <br />pay City billings within ten (10) years <br />billing or within such extension of said ten <br /> <br />year period as are mutually agreed to by Agency and City. Agency <br />shall pay City from any funds which are legally available to <br />Agency therefor, including the proceeds of said bond issue or <br />issues. <br /> <br /> D. [§304] Subordination of City Indebtedness <br /> <br /> It is hereby agreed that the Agency may pledge and secure <br /> <br />tax increments that accrue to the Agency as may be necessary to <br />enable the Agency to sell said tax allocation bonds, and that <br />the indebtedness of th~ Agency to the.City created by this Agree- <br />ment is subordinate to any such first pledge of tax increments <br />to the bondholders of said bond issue or issues. <br /> <br />-4- <br /> <br /> <br />