Laserfiche WebLink
(h) To-pay-~he Authority the sum of $285,138 im cash by June 30, 1979 <br /> that i~ by said date the .City and the State of Virginia has under- <br /> taken the ~econstruction and widening of Portsmouth Boulevard from <br /> its intersection in the western section of the project with Erring- <br /> ham Street to its intersection with Seventh Street, the eastern <br /> boundary of the project, there shall be credited against said pay- <br /> ment the actual eligible cost of such construction which is presently <br /> estimated to be $285,t38 .In the event the cost of such construction <br /> is less than $285,138, the difference between $285,138 and 100% <br /> of the lesser total cost shall be paid in cash or in pootlng credits <br /> by the City to.the Authority by June 30, 1979. <br /> <br /> To pay to the Authority the s~m of $32,t75 in cash by October 1, 1979; <br /> provided, however, that if by said date the City has undertaken the <br /> removal of water meters and the disconnection of utility lines to <br /> %acated structures, there shall be credited against said payment the <br /> actual eligible cost of such wock which is presently estimated to be <br /> $32,175, the difference between $32~75 ~and 100% of _the lesser total <br /> cost shall be paid in cash or in pooling credits by the City to the <br /> Authority by June 30, 1979. <br /> <br />(d) <br /> <br />To pay to the Authority the sum of $1,195,534in cash by October <br /> <br />1, 1979; provided, however, that if by said date the City has caused <br />t'o be constructed, reconstructed, or to be placed under construction <br />certain project or site improvements including street improvements, <br />and t~e construction of new curbs and gutter, sidewalks, storm drain <br />li~es, water distribution lines and sanitary sewer lines, there shall <br />be credited against such payment the actual eligible cost of such <br />facilities. In the event the cost of such construction is less than <br />~1 ~ 5~A the difference between $1,195,534 and 100% of the lesser <br /> <br /> <br />