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<br /> 12. Agree to advance to the County $300,000.00, or so much thereof
<br />I I as may be necessary to make it possible for the county to pay its share of the
<br /> cost of said project, ,said sum to be advanced to the County without interest
<br /> ! charge and to be repald by t~e County out of its annual allocation of sLate
<br /> motor. vehicle funds in five annual installments. Likewise agree to advance to
<br /> , the Clty ~50,OOO~00, ,.or so much thereof as may be necessary to make, it possible V1
<br /> r for the ~lty to pay lts ~hare of the cost of said project, said sum to be repaid ~
<br /> by the Clty out of the Clty's allocation of state motor vehicle funds in five ~
<br /> I; annual installments. . ""......
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<br /> I' THINGS TO BE DONE AND OBLIGATIONS ~~i .~
<br /> I TO BE ASSUMED BY THE CITY:
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<br /> !i 1. Accomplish the removal of the spur track from Sixth Street and
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<br /> accomp~ish- ~he c~nstruc~ion of the portion of the highway or roadbed which lies
<br /> betwee~ Eng~neer s,Statlon 27 ~5 and the north wye connection of the new highway
<br /> I: at Englneer s Statlon 6 75, WhlCh does not include, however any part of the
<br /> bridge across the Willamette River. '
<br /> 2. Accomplish the construction of an overhead highway or street
<br /> structure across ~he Southern P~cific Company's tracks, including also. ramps
<br /> r and pavement leadlng to the Frult Growers' warehouse and to Sixth and Seventh
<br /> Streets.
<br /> r 3. Participate with the state on a fifty-fifty basis toward the
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<br /> l acquiSition of right of way necessary for the construction of the City's portion
<br /> ,: of the project north of the railroad and the cost of the- acquisition of the Mill
<br /> I Race and the Excelsior Plant properties, including area required for the necessary
<br /> t: ramp 0::' ramps through the ~ong Bell and Eugene Fruit Growers' plants; provided,
<br /> t that wlth respect to the Ml11 Race property title to that part thereof which is
<br /> I to be incorporated in this project shall be taken in the name of the State and
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<br /> ,l title to the remainder of said property shall be taken in the name of the City.
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<br /> i. It is estimated that to accomplish the City's obligations with
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<br /> .j. respect to said project as enumerated above will cost the estimated sum of
<br /> ~:1 $580,000.00. To meet this obligation the City has authorized a $500,000.00 bond
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<br /> I issue. In addition to the said $500,000.00 bond issue the City is to receive
<br /> credit in the amount of the saving which will accrue to the State by reason of the
<br /> elimination of a bridge on Broadway between High and Ferry Streets and the elimi-
<br /> ,.' nation of a bridge on Franklin Street between Alder and Eleventh Streets, which
<br /> :: saving is estimated. to be $30,000.00. This leaves a net obligation of the City
<br /> ': in the sum of $550,000.00, Which amount, the City assumes and agrees to pay. In
<br /> " the event the City does not have sufficient funds with which to meet its full
<br /> :; obligation as the same shall ma ture, the State- will advance to the City. such an
<br /> :1 amount in excess of the sa id $500,000 bond issue as may be necessary. Said advance
<br /> I; or loan, is to be paid by the City out of its share of state motor vehicle funds
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<br /> , I during the five-year period following the execution of this tri-party agreement,
<br /> which highway motor vehicle funds will accrue to the City under the provisions
<br /> " of Chapter 371, Oregon. Laws, 1943.
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<br /> ti 5. It is recognized that the sum of $550,000.00 is an estimate only
<br /> : and if upon the completion of said project it is found that the total amount of
<br /> 11 the City's financial obligation is less than said sum of $550,000.00, then the
<br /> :' City shall be required only to contribute on the basis of the actual and de-
<br /> :: termined costs. In any event the City's financial obligation shall be limited to
<br /> I: a top figure of $550,000.00.
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<br /> It 6. To insure the payment to the Sta te of such sum as the State may
<br /> :1 advance to the City over and above the said $500,000..eo". the. City hereby a~signs
<br /> ;, to the State sufficient of its allocation of state motor vehlcle funds durlng the
<br /> j.: five-year period following the execut ion of this agreement so that said, entire
<br /> I' advance may be liQuidated in five annual payments or installments; provlded,
<br /> ;: however, tha t the City at any time may pay in full such sum as may be advanced by
<br /> "1 the State to the City.
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<br /> I' THINGS TO BE DONE AND OBLIGATIONS
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<br /> !I TO BE ASSUMED BY THE COUNTY:
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<br /> :1 1. Pay the cost incident to the construction of a bridge to carry the
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<br />I :1 Eugene-Coburg County Road across the Willamette River, including costs of necessary
<br /> !I ramps and/or approaches.
<br /> II 2. Provide all necessary rights of way in connection with the constru-
<br /> II ction of said bridge and its approaches.
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<br /> II 3. Rearrange and construct the ali.gnment of the county road or highway
<br /> II from the bridge approach to Station 52, which point is approximately nine hundred
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<br /> I.' feet north of the Willamette River. ~
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<br /> ;J 4. Upon the completion of the project or projects, make final and full
<br /> II payment to the State of the cost of said bridge.structure and it~ approaches, to- ,
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<br /> ;! gether with such other unpaid items, if any, WhlCh may be determ~ned as a result I
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<br /> ., of the final statement heretofore required of the State, employing for such purpose~
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