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RESOLUTION NO. 2006- 116 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, ACKNOWLEDGING <br />TERMS OF REIMBURSEMENT FOR ACCELERATED <br />CONSTRUCTION OF STATE ROAD 60 <br />WHEREAS, the Safe Accountable Flexible Efficient Transportation <br />Equity Act — a Legacy for Users (SAFETEA-LU) requires that each MPO <br />annually prepare a five-year Transportation Improvement Program (TIP); and <br />WHEREAS, the TIP contains federal and state surface transportation <br />funds programmed for use on projects identified as the MPO's top priorities; <br />and <br />WHEREAS, the federal and state funds contained in the TIP are <br />inadequate to complete the construction of the MPO's current number one <br />priority project, the widening of SR 60 from 82°a Avenue to I-95; and <br />WHEREAS, the County and FDOT have agreed to enter into a Joint <br />Participation Agreement for advancing construction of . SR 60, whereby <br />construction funding of approximately $30 Million will be made available by <br />Indian River County in 2008/09; <br />NOW, THEREFORE, BE IT RESOLVED THAT THE BOARD OF <br />COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA <br />ACKNOWLEDGES THAT, BY PARTICIPATING IN THE ADVANCED <br />CONSTRUCTION AGREEMENT, THE COUNTY WILL COMMIT A <br />SUM OF FIVE MILLION DOLLARS FROM ITS FEDERAL FUND <br />ALLOCATION IN EACH YEAR BETWEEN 2011/12 AND 2016/17 FOR <br />REPAYMENT OF THE ADVANCEMENT OF THE PROJECT. <br />The forgoing Resolution was offered by Commissioner <br />Lowther and seconded by Commissioner <br />Neuberger and upon being put to a vote, the vote was as <br />follows: <br />Arthur R. Neuberger, Chairman Aye <br />Gary C. Wheeler, Vice Chairman Aye <br />Wesley S. Davis, Commissioner Aye <br />Thomas S. Lowther, Commissioner Aye <br />Sandra L. Bowden, Commissioner Nay <br />The Chairman thereupon declared the resolution duly passed and adopted at a <br />meeting held this 22" day of August, 2006. <br />37 <br />