Section 110-409; Res. 179-09; Authorizing a revised version of a Cooperative and Cost Participation Agreement, Direct Loan Agreement and Promissory Note for transportation improvements to the Stadium Boulevard corridor from Broadway to I-70


Council Bill No. R 179-09

     A RESOLUTION

authorizing the City Manager to execute a revised version of a Cooperative and Cost Participation Agreement, Direct Loan Agreement and Promissory Note for transportation improvements to the Stadium Boulevard corridor from Broadway to I-70.

    WHEREAS, Ordinance No. 20001 authorized the City Manager to execute a Cooperative and Cost Participation Agreement, Direct Loan Agreement and Promissory Note for transportation improvements to the Stadium Boulevard corridor from Broadway to I-70; and

    WHEREAS several changes have been made to these documents subsequent to the City Council’ s authorization; and

    WHEREAS, the City Council wishes to approve these changes and specifically authorize the City Manager to execute the revised documents.

    NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS FOLLOWS:

    SECTION 1.    The City Manager is hereby authorized to execute a Cooperative and Cost Participation Agreement with the Missouri Highways and Transportation Commission the Stadium Corridor Transportation Development District A, the Columbia Mall Transportation Development District and the Shoppes at Stadium Transportation Development District.  The form and content of the agreement shall be substantially as set forth in "Attachment A" attached hereto and made a part hereof as fully as if set forth herein verbatim.

    SECTION 2.    The City Manager is hereby authorized to execute a Direct Loan Agreement with the Missouri Transportation Finance Corporation and the Missouri Highways and Transportation Commission.  The form and content of the agreement shall be substantially as set forth in "Attachment B" attached hereto and made a part hereof as fully as if set forth herein verbatim.

    SECTION 3.    The City Manager is hereby authorized to execute a Promissory Note relating to transportation improvements to the Stadium Boulevard corridor from Broadway to I-70.  The form and content of the agreement shall be substantially as set forth in "Attachment C" attached hereto and made a part hereof as fully as if set forth herein verbatim.    

    ADOPTED this 3rd day of August, 2009.