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RES NO 10-02-2012 CITY OF VAN BUREN, ARKANSAS RESOLUTION NO. 10 a'- 2012 BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN, ARKANSAS, A RESOLUTION TO BE ENTITLED: A RESOLUTION EXPRESSING THE WILLINGNESS OF THE CITY OF VAN BUREN, ARKANSAS TO UTILIZE FEDERAL AID MONIES FOR THE FOLLOWING CITY PROJECT; TRAFFIC SIGNAL REHABILITATION HIGHWAY 162 AND 28 STREET. WHEREAS, the City of Van Buren understands Federal -aid Surface Transportation Program funds are available for certain City projects at the following Federal, State, and Local participating ratios up to a maximum of $350,000.00 Federal -aid available per project: Type Work Work Phase Federal Share State Share City Share Traffic Construction 80% 10% 10% Signals /Intersection Engineering Improvements Right -of -Way Utilities 0% 0% 100% Projects All Phases 0% 0% 100% programmed but not let to contract and WHEREAS, the Arkansas State Highway and Transportation Department has completed a preliminary cost estimate on the worksheet attached hereto as Exhibit "A NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS, THAT: SECTION l: The City will participate in accordance with its designated responsibility in this project, which includes providing electrical service, maintenance of the traffic signal and associated control equipment, and 100% of any costs over the maximum available ($350,000.00 Federal -aid and $43,750 State) per project. SECTION 2: The Mayor or his designated representative is hereby authorized and directed to execute all appropriate agreements and contracts necessary to expedite the construction of this City project. SECTION 3: The City pledges its full support and hereby authorizes the Arkansas State Highway and Transportation Department to initiate action to implement this project. IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did pass, approve, and adopt, by a vote of (Qfor and 0 against, the foregoing Resolution at its meeting held on the l5"' day of October, 2012. Robert D. Free "1 Mayor a ATTESTED: err t fl 1 S TO FORM: Barbie Curtis 4 e A. Settle City Clerk/Treasurer City Attorney