RESOLUTION NO. R98-1255

ADOPTED 09/01/1998

Resolution No. R98-1255

A resolution ratifying an agreement with the Treasury Department of the State of Tennessee in order to deposit local funds for Project No. 19044-3210-04, Harpeth Trace Drive at SR-100, Intersection Modification, in the Local Government Investment Pool.

WHEREAS, the Local Government Investment Pool Program was established by Chapter 545 of Public Acts of 1982; and

WHEREAS, pursuant to the Law local share funds relative to Tennessee Department of Transportation Projects can be deposit in the Local Government Investment Pool thereby allowing same to earn interest until used, or spent on the project; and

WHEREAS, provisions of the Local Government Investment Pool Program requires an agreement from the Local Agency which approves its participation, and establishes a separate LGIP Account for each Tennessee Department of Transportation Project with a local share of funds; and

WHEREAS, The Tennessee Department of Transportation and The Metropolitan Government of Nashville and Davidson County have a contract for Project No. 19044-3210-04, Harpeth Trace Drive at SR-100, Intersection Modification; and

WHEREAS, Resolution No. authorizes the Metropolitan County Mayor to execute any and all agreements necessary to implement the Local Government Investment Pool Program; and

WHEREAS, Resolution No. also requires that the Local Government Investment Pool Agreement be ratified by Resolution of the Metropolitan County Council; and

NOW, THEREFORE, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:

SECTION 1: That the Local Government Investment Pool Agreement between the Treasury Department of The State of Tennessee and The Metropolitan Government of Nashville and Davidson County for Project No., 19044-3210-04, Harpeth Trace Drive at SR-100, Intersection Modification, a copy of which is attached hereto, and made a part of the Resolution, be and the same is hereby ratified by the adoption of the Resolution.

SECTION 2: That the Metropolitan County Mayor is authorized to execute the attached Contract for Project No., 19044-3210-04, Harpeth Trace Drive at SR-100,.

SECTION 3: That this Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.