HomeMy WebLinkAbout2008-326Florida Department of Transportation
CHARLIE CRIST
GOVERNOR
Mr, Christopher R. Mora, P.E.
Asst. Public Works Director
Indian River County
Public Works Department
1801 27th Street
Vero Beach, FL 32960
3400 West Commercial Boulevard.
Fort Lauderdale, FL 33309-3421,
December 24, 2008
STEPHANIE C. KOPELOUSOS
SECRETARY
DEC 2 9 2008
RE: Advance Reimbursement Locally Funded Agreement, APD -87
FM Number. 228628-1-A8-01
Description: Milling & Resurfacing, Reconstruction, and Construction
Engineering Inspection (CEI) Services of SR-60/Osceola Blvd. from
West of 1-95 to West of 82nd Avenue/CR-609
Dear Mr. Mora:
Enclosed please find a copy of a fully executed Memorandum of Agreement (MOA) for the
above referenced project. Said documents are to be retained for your records.
If you have any
777-2285,
questions, please do not hesitate to contact me. I can be reached at (954)
Sincerely,
Professional Services Unit
District Four
lk/s
enc: MOA
copy: Scott Peterson, Project Manager
File
www. dot. state. fl .0 s
Exhibit "E"
MEMORANDUM OF AGREEMENT
THIS AGREEMENT, made and entered into this /&rµ , day of DEc5MiEz ,
200 18 1 by and between the State of Florida, Department of Transportation, hereinafter
referred to as "DEPARTMENT", the State of Florida, Department of Financial Services,
Division of Treasury, and INDIAN RIVER COUNTY hereinafter referred to as the
"PARTICIPANT".
WITNESSETH
WHEREAS, "DEPARTMENT" is currently constructing the following project:
-
Financial Project Number: 228628=1=52-01, 228628=1-6L D1,
& 228628=1-62-01
County: INDIAN RIVER
hereinafter referred to as the "Project".
WHEREAS, the DEPARTMENT and the PARTICIPANT entered into a Locally
Funded Agreement (LFA) dated bereM\rjPr' 15. ZOo.0 ,wrherein
the DEPARTMENT agreed to perform certain work on behalf of the PARTICIPANT in
conjunction with the Project.
WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the
best interest of the DEPARTMENT and the PARTICIPANT to establish an interest
bearing escrow account to provide funds for the work performed on the Project on behalf
of the Participant by the DEPARTMENT.
NOW THEREFORE, in consideration of the premises and the covenants contained
herein, the parties agree to the following:
1. The DEPARTMENT and the PARTICIPANT agree that the recitals set forth
above are true and correct and deemed incorporated herein.
2. An initial deposit in the amount of FOURTEEN MILLION FOUR HUNDRED
TWENTY NINE THOUSAND SEVEN HUNDRED FIFTY FOUR DOLLARS
($14,429,754.00) will be made by the PARTICIPANT into an interest
bearing escrow account established by the DEPARTMENT for the purposes
of the Project. Said escrow account will be opened with the Department of
Financial Services, Division of Treasury, and the Bureau of Collateral
Management on behalf of the DEPARTMENT upon receipt of this
Memorandum of Agreement. Such account will be an asset of the
DEPARTMENT.
3. Other deposits will be made only by the PARTICIPANT as necessary to
cover the cost of additional work prior to the execution of any Supplemental
Agreements.
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4. All deposits shall be made payable to the Department of Financial
Services, Revenue Processing and mailed to the DEPARTMENT'S District
Four Office, The District Four Office will then forward the check, along with
required documentation to the DEPARTMENT'S Central Office for
appropriate processing at the following address.
Florida Department of Transportation
Office of Comptroller
General Accounting Office, LFA Section
605 Suwannee Street, Mail Station #42111
Tallahassee, Florida 32399
5. The DEPARTMENT'S Comptroller or designee shall be the sole signatories
on the escrow account with the Department of Financial Services and shall
have sole authority to authorize withdrawals from said account.
6. Unless instructed otherwise by the parties hereto, all interest accumulated in
the escrow account shall remain in the account for the purposes of the
project as defined in the LFA.
7. The Department of Financial Services agrees to provide written confirmation
of receipt of funds to the DEPARTMENT.
8. The Department of Financial Services further agrees to provide periodic
reports to the DEPARTMENT.
l
STATE F FLORIDA STATE OF FLO A
DEPARTMENT OF TRANSPORTATION DEPARTMENT OF FINANCIAL SERVICES
COMPTROLLER DIVISION OF TREASURY
AC �n FORM
.. __•. --
DEPUTY COUNTY ATTORNEY
BY:
RIVER COUNTY
PARTICIPANT SIG
Wesley S. Davis, Chairman
PARTICIPANT NAME & TITLE
1801 27TH Street
Vero Beach, FL 32960
PARTICIPANT ADDRESS
F=596-000-679
FEDERAL EMPLOYER I.D. NUMBER