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<br />'1" <br /> <br />. <br /> <br />. <br /> <br />~ " <br /> <br />submit a billing to the Agency for payment for services per- <br /> <br />formed and costs incurred to that date, together with a certi- <br />fication of costs showing the cost to City based on: <br /> <br />(1) <br /> <br />City's payment(s) to the contractor(s) who perform(s) <br />the work; <br /> <br />(2 ) <br />(3) <br /> <br />City's design and supervision cOsts; <br /> <br />City's right-of-way acquisition costs, if applicable; <br />and <br /> <br />(4) <br /> <br />Accrued interest. <br /> <br />Thereafter, billings shall be submitted to Agency on a <br /> <br />monthly basis for services performed and costs incurred during <br /> <br />the previous month together with such certification of costs for <br />the previous month. <br /> <br />Agency shall pay City billings within ten (10) years <br />of the date of each billing or within such extension of said ten <br /> <br />year period as are mutually agreed to by Agency and City. <br /> <br />Agency <br /> <br />shall pay City from any funds which are legally available to <br /> <br />Agency therefor, including the proceeds of said bond issue or <br /> <br />issues. <br /> <br />D. <br /> <br />[§3O4] <br /> <br />Subordination of City Indebtedness <br /> <br />It is hereby agreed that the Agency may pledge and secure <br /> <br /> <br />tax increments that accrue to the Agency as may be necessary to <br /> <br />enable the Agency to sell said tax allocation bonds~ and that <br /> <br />the indebtedness of the Agency to the City created by this Agree- <br /> <br />ment is subordinate to any such first pledge of tax increments <br /> <br />to the bondholders of said bond issue or issues. <br /> <br />-4- <br /> <br />e)¡¿~~;f <br />