MEMORANDUM OF AGREEMENT - FPN 431491-1-52-01 MEMORANDUM NT .
a
THIS AGREEMENT, made and entered into this
day of
201 , by and between the State of Florida, Department of Transpo tion, herein h ,ter
referred to as "FDOT" and the State of Florida, Department of Financial Services,
... .., � Division of Treasury, hereinafter referred to as "TREASURY" and The City of
Clearwater, hereinafter referred to as the "PARTICIPANT".
WITNESSETH
WHEREAS, "FDOT" is currently constructing the following project:
Main Financial Project No.: 431491®1® 2®01
County: Pinellas
hereinafter referred to as the "PROJECT".
WHEREAS, FDOT and the PARTICIPANT entered into a Locally Funded
Agreement dated ��� ; �'� ti. � "� ����� 201 k,,.
,L,, wherein FDOT agreed to perform
certain work on behalf of the PARTICI~ ANT in conjunction with the PROJECT.
WHEREAS, the parties to this AGREEMENT'ENT mutually agreed that it would be in
the best interest of the FDOT 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 FDOT.
NOW THEREFORE, in consideration of the premises and the covenants
contained herein, the parties agree to the following:
1. An initial deposit in the amount of$294,705.00, Two Hundred and Ninety
Four Thousand, Seven Hundred and Five ollars) will be made by the PA R1 ICIPIAI° C`
into an interest bearing escrow account established by the FDOT for the purposes of
the PROJECT. aid escrow account will be opened with the TREASURY on behalf of
the FDOT upon receipt of this Memorandum of Agreement. Such account will be an
asset of the FDOT.
2. Other deposits may be made by the PARTICIPANT as necessary to cover
cost increases or the cost of additional work prior to the execution of any Supplemental
Agreements or Amendments.
JA
350-020-300-m
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3. Payment will be made as follows (check appropriate payment method):
Wire transfer
ACH deposit
Check
A wire transfer or ACH deposit is the preferred method of payment and should be used
whenever possible. Following is the wiring and ACH deposit instructions:
For wire transfers: Bank of America
Account# 001009068974
ABA# 026009593
Chief Financial Officer of Florida
Re: DOT® K 11-78, Financial Project#
For ACH deposits: Bank of America
Account# 00 1009068974
ABA# 063100277
Chief Financial Officer of Florida
Re: DOT® K 11-78, Financial Project#
If a check is the method of payment, the check shall be made payable to the
Department of Financial Services, Revenue Processing and mailed to the FDOT, OOC-
GAO for appropriate processing at the following address:
Florida Department of"transportation
OOC-GAO, LFA Section
605 Suwannee Street, MS 42B
Tallahassee, Florida 32399
A copy of this Agreement should accompany any deposits. When the check is
mailed to Tallahassee, the District Offlice should instruct the PARTICIPANT to
mail the District Office a copy of the check.
4. The FDOT's Comptroller or designee shall be the sole signatories on the
escrow account with the TREASURY and shall have sole authority to authorize
withdrawals from said account.
5. Unless instructed otherwise by the FD OT hereto, all interest accumulated
in the escrow account shall remain in the account for the purposes of the PROJECT as
defined in the LFA.
6. The TREASURY agrees to provide written confirmation of receipt of funds
to the FDOT.
7. The TREASURY further agrees to provide periodic reports to the FDOT.
350-020-300-m
AGENCY FDOT Page 3 E 4
See attached Encumbrance Form for date
of Funding Approval by Comptroller
City of Clearwater
AGENCY NAME
George N. Cretekos v _it
Signatory(Printed or Typed) LEGAL REVIEW
DEPARTMENT OF TRANSPORTATION
r
Signature Debbie Hunt
Department of Transportation
Mayor Director of Transportation
TITLE TITLE
,rvj,
Signature
i, nature
Rosemaire Call illiarn B. Horne, II
City Clerk
City Manager
TITLE
Approv d as to form:
.-L11 _ S.._.'. ._ ......._........
..-
Matt cw M. "n
Assistant City Attorney
350®020®300-m
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STATE ® LO IDA . STATE OF FLORIDA
DEPART , E T OF TRANSPORTATION DEPA TMENT OF FINANCIAL
COMPTROLLER ER ICES, DIVISION OFTREASURY