25F - AGMT - STREETCAR CONSTRUCTION

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COOPERATIVE AGREEMENT NO. C -6 -1516 1 ARTICLE 5. RESPONSIBILITIES OF THE CITY 2 The CITY shall carry out the responsibilities for the Project assigned herein to the CITY as 3 such are further detailed in Exhibit B, entitled "Project Scope" and Exhibit C, entitled "Financial 4 Obligations'. 5 ARTICLE 6. DELEGATED AUTHORITY 6 The actions required to be taken by the CITY in the implementation of this Agreement are 7 delegated to its City Manager, or designee. The actions required to be taken by the AUTHORITY in 8 the implementation of this Agreement are delegated to the AUTHORITY's Chief Executive Officer or 9 designee. 10 ARTICLE 7. MAXIMUM OBLIGATION 11 Notwithstanding any provisions of this Agreement to the contrary, the AUTHORITY and the 12 CITY mutually agree that the AUTHORITY's maximum cumulative payment obligation under this 13 Agreement shall be One Million Five Hundred Thousand Dollars ($1,500,000), unless agreed to and 14 amended in writing by both Parties. 15 ARTICLE 8. AUDIT AND INSPECTION 16 The AUTHORITY and the CITY shall maintain a complete set of records in accordance with 17 generally accepted accounting principles for a period of time from when the record is first generated 18 until four (4) years after Project completion or until any on -going audit is completed. Upon reasonable 19 notice, the CITY shall permit the authorized representatives of the AUTHORITY to inspect and audit 20 all work, materials, payroll, books, accounts, and other data and records of the CITY. The 21 AUTHORITY may conduct an audit of such records at any time during the period in which the records 22 are required to be maintained. The AUTHORITY shall have the right to reproduce any such books, 23 records, and accounts. The above provision with respect to maintenance of records and audits shall 24 be included in all CITY contracted work which is paid for with Project funds. 25 / 26 / Page 7 of 15 I: \cam m \clerical \wo rd p roc \agree \ag6l516.dccx 25F -11