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RESOLUTION NO. 2015 - 17 A RESOLUTION OF THE CITY OF MOSCOW, IDAHO, A MUNICIPAL CORPORATION OF THE STATE OF IDAHO, AUTHORIZING THE RESTRICTED ALLOCATION OF LOCAL MATCH FUNDS TO THE PULLMAN-MOSCOW REGIONAL AIRPORT; LIMITING THE USE OF SAID FUNDS; AND OTHER MATTERS RELATED THERETO; PROVIDING THAT THIS RESOLUTION SHALL BE IN EFFECT UPON ITS PAS SAGE, AND APPROVAL. WHEREAS, the City of Moscow ("Moscow") and the City of Pullman, Washington ("Pullman") jointly operate the Pullman-Moscow Regional Airport ("Airport") pursuant to a Joint Operating Agreement dated July 22, 2014; and WHEREAS, in order to retain commercial passenger service, the United States Department of Transportation, Federal Aviation Agency ("FAA") has required Airport to relocate and realign the Airport runway (the "Project") and has allocated initial federal grant funding of said Project through the Airport Improvement Project (AIP) Grant No. 3-3-0051-041; and · WHEREAS, Moscow and Pullman are the designated sponsors and grant recipients of all FAA grants for Airport improvements and projects and, as such, are required to provide the local match for all FAA grant funded projects, including FAA grants allocated and awarded to the Project; and WHEREAS, the City of Pullman is the treasurer for the Airport and maintains and manages the Pullman-Moscow Regional Airport Fund for the benefit of the Airport Board of Directors ("Airport Board"); and WHEREAS, as sponsors the City of Moscow and City of Pullman have indicated their respective participation of $2,500,000 each for a total of $5,000,000 matching funding, to be budgeted and authorized over a five-year period; and WHEREAS, both Cities are confident that other governmental partners, education institutions, and private commitments will contribute the remaining necessary match to be used only for this project; and WHEREAS, Moscow and Pullman desire to contribute to the Pullman-Moscow Regional Airport Fund their respective shares of the local match for any FAA grants allocated to the Project as such funds become available; provided such local match funds shall be restricted for use by the Airport Board only as required to pay the local match expenses of the Project as federal funding is allocated and as Project expenditures are approved for payment by the FAA. NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of Moscow as follows: RESOLUTION 2015 - 1 7 AUGUST 3, 2015 PAGE 10F2 ---PAGE BREAK--- 1. The total sum of not to exceed two million five hundred thousand dollars ($2,500,000) shall be transferred by the Moscow Finance Director to the City of Pullman for transfer to the Pullman-Moscow Regional Airport Fund as such funds are authorized and become available in the City of Moscow Annual Budget and for purposes of providing Moscow's share of the local match for FAA grants allocated to the Airport Runway Realignment Project; and 2. All funds paid by Moscow to the City of Pullman for transfer to the Pullman-Moscow Regional Airport Fund for use as match for FAA grants for the Airport Runway Realignment Project shall be restricted funds and shall be used only for the payment of FAA approved Project expenditures and shall only be expended in the minimum amount necessary to meet local match funding requirements of FAA grants allocated and awarded to the Project; and 3. That upon reasonable request an accounting of all deposits and payments specific to the project can be obtained within 30 days from the City of Pullman; and 4. That this resolution is complementary to City of Pullman Resolution #R-56-15 approved by the Pullman City Council on July 21, 2015; and 5. That upon completion of the Project and the final payment of the local match portion of Project expenses, the Airport Board shall release and return to Moscow any unspent restricted funds received from Moscow for the Project; and 6. The Moscow Finance Director is hereby directed to take all steps necessary to implement the restrictions set forth herein. 7. That this Resolution shall become effective as of the 3rd day of August, 2015. PASSED AND APPROVED by the Mayor of the City of Moscow, Idaho, this 3rd day of August, 2015. Clerk RESOLUTION 2015 - 17 AUGUST 3, 2015 PAGE2 0F2