Loading...
2013-12 Amends Res 2013-10 FDOTRESOLUTION NO. 2013-12 A RESOLUTION OF THE CITY OF OKEECHOBEE, FLORIDA, RESCINDING RESOLUTION NO. 2013-10 IN ITS ENTIRETY; APPROVING A REVISED LOCALLY FUNDED AGREEMENT WITH THE FLORIDA DEPARTMENT OF TRANSPORTATION FOR CROSSWALK IMPROVEMENTS IN CONJUNCTION WITH THE STATE ROAD 70 IMPROVEMENTS PROJECT; APPROVING A MEMORANDUM OF AGREEMENT WITH THE FLORIDA DEPARTMENT OF TRANSPORTATION AND DEPARTMENT OF FINANCIAL SERVICES, DIVISION OF TREASURY WHICH SETS FORTH PAYMENT SUBMITTAL AND PROCEDURES; PROVIDING TO AUTHORIZE THE MAYOR TO EXECUTE THE LOCALLY FUNDED AGREEMENT AND MEMORANDUM OF AGREEMENT; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the State of Florida Department of Transportation, hereinafter referred to as FDOT, proposes to construct or reconstruct transportation facility improvements identified on the Five - Year Work Plan as Project ID No. 425846- 1- 52 -01, and FM No. 425846- 1- 52 -02, State Road 70, from NW /SW 4th Avenue to NE /SE 3`d Avenue, hereinafter referred to as the "Project;" and WHEREAS, the City of Okeechobee requested that FDOT include street -scape improvements within the Project area in an effort to provide State Road 70, also known within the City Limits as North Park Street, with aesthetic amenities and traffic calming devices; and WHEREAS, FDOT required that the City of Okeechobee adopt a Resolution authorizing the execution and delivery to the FDOT, the agreement as identified as Locally Funded Agreement (Crosswalk Improvements), hereinafter referred to as the Agreement; and WHEREAS, FDOT has additionally required that the City of Okeechobee authorize the execution and delivery of a Memorandum of Agreement with the FDOT and Department of Financial Services, Division of Treasury to establish an interest bearing escrow account and procedures; and WHEREAS, the City of Okeechobee has the authority, pursuant to Chapter 163, Florida Statutes, to enter into Agreements with FDOT to improve transportation facilities on the State Highway System, finding it in the best interest of the citizens of the City of Okeechobee. NOW, THEREFORE, be it resolved before the City Council for the City of Okeechobee, Florida; presented at a duly advertised public meeting; and passed by majority vote of the City Council; and properly executed by the Mayor or designee, as Chief Presiding Officer for the City: SECTION ONE: That the Locally Funded Agreement, attached herewith as "ExHiBiTA," sets forth the payment procedures to the FDOT to install patterned pavement at certain crosswalks, Per Pay Item 523 -1, within the Project area and as set out in the Contract Plans, Sheet No. 160 through 163, dated September 27, 2013. Estimated cost being $72,112.00. SECTION TWO: That the Memorandum of Agreement, attached herewith as "EXHIBIT B," sets forth the procedures to establish an interest bearing escrow account to provide funds for the work set out in the Locally Funded Agreement and procedures. SECTION THREE: That James E. Kirk, Mayor for the City of Okeechobee, is authorized to execute the Agreement. Further directing the City Clerk to forward a certified copy of this Resolution, along with the executed Agreement to the FDOT. SECTION FOUR: Conflict. All Resolution or parts of Resolutions in conflict herewith are hereby repealed. Resolution No. 2013 -12 Page 1 of 2 STATE OF FLORIDA DEPARTMENT OF TRANSPORTATOIN RIGHT OF ENTRY AGREEMENT ITEM /SEGMENT NO.: 425846- 1 -52 -01 MANAGING DISTRICT: One F.A.P. NO: STATE ROAD NO.: 70 COUNTY: Okeechobee PARCEL NO.: 100A, 100B, 100D, 100E STATE OF FLORIDA COUNTY OF OKEECHOBEE THIS AGREEMENT made and entered into on the,9) day of and between the Florida Department of Transportation and City of eechobe , 2014 by Hereinafter called the 'OWNER' and the State of Florida Department of Transportation, hereinafter called the "DEPARTMENT." WITNESSETH: WHEREAS, the Department has acquired the property described as parcel 100A, 100B, 100D and 100E as right of way for the construction of the above referenced project; and WHEREAS, there are certain improvements affected by the above referenced project which are located upon the Owner's remaining property; and WHEREAS, it is hereby determined to be in the best interest of the Owner and the Department to harmonize these improvements. WHEREAS, the Department shall hold the City /Owner harmless from any claim, demand, suit, injury or loss that arises due to the negligence of Department or its representatives while upon Owner's property, made by any person or entity and to further indemnify Owner from any attorney's fee or costs arising therefrom. NOW, THEREFORE, in consideration of the above stated premises, the Owner and the Department hereby agree that the Department and /or its duly authorized representative shall have the right to enter upon the Owner's remaining lands for the purpose of tree protection during construction, harmonizing sidewalk and harmonizing roadway along the side streets. It is further understood and agreed that the Department and /or its duly authorized representatives will restore the remaining lands to safe and sanitary condition after the improvements. OWNER: DEPARTMENT: Brian Whitehall, City Administrator Name (Please Print or Type) 1j s/iEr Signa re Z Dat Date 401-1 ot--,4:14 (1,1ij &J,K , - Name (Please Print or Type) STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION BYnn: 4 A Agent's Signature rlI ()vooS /(sST fp, v Name (Please Print or Type) lCNst �.1 SECTION FIVE: Severability. If any section, subsection, sentence, clause, phrase or portion of this Resolution, or application thereof shall for any reason be held invalid or unconstitutional by any court of competent jurisdiction, such portion or provision and such holding shall not affect the validity of the remaining portions or applications here. SECTION SIX: This resolution shall become effective immediately upon its adoption. INTRODUCED AND ADOPTED in regular session this 5th day of November, 2013. James E. Kirk, Mayor ATTEST: Lane Gamiotea, MC, City Clerk REVIEWED FOR LEGAL SUFFICIENCY: John R. Cook, City Attorney Resolution No. 2013 -12 Page 2 of 2 FM #425846- 1 -52 -02 FIRST AMENDMENT TO STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION LOCALLY FUNDED AGREEMENT MAYOR CITY OF OKEECHOBEE, FLORIDA As of 3 1 When signed by CITY OF OKEECHOBEE and the State of Florida, Department of Transportation in the places provided below, the following shall constitute the First Amendment (the "Amendment ") to the STATE OF FLORIDA DEPARTMENT OF TRANSPORTAT /ON LOCALLY FUNDED AGREEMENT (hereinafter, "AGREEMENT") between CITY OF OKEECHOBEE and the State of Florida, Department of Transportation dated November 21, 2013, as in force immediately prior to the execution of this First Amendment: Section 17. Of the AGREEMENT is amended to read: This AGREEMENT shall continue in effect and be binding on the parties until the PROJECT is completed. However, the CITY's obligation to maintain the PROJECT shall survive the term of this AGREEMENT. Such maintenance of the PROJECT shall be in conformance with Exhibit A, attached. Rest of this page intentionally left blank. This 1st Amendment shall become effective on: Department to enter date. ACKNOWLEDGED AND AGREED TO: CITY OF OKEECHOBEE, FLORIDA AT EST / --)i r 1 ,-z-4,--2--, CLERK (Seal) MOR c cidthzuctiv-,j5, ao/q DATE CITY LEGAL REVIEW: B \Qatk, ATTEST 1.7-arnes 6, kL (77,2574 PRINT NAME D.NTI. 2_,(0 Dm. 2 - 2 S -(L-( STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION EXECUTIVE, ':CRETARY erald PRINT N, FDOT LEGAL REVIEW: (SEAL) ois BY: ai DISTRICT ONE SECRETARY OR DESIGNEE DATE PRIN I N \ME DATE EXHIBIT A FM# 425846- 1 -52 -01 "Maintenance" of all patterned pavement crosswalks in these Agreements shall be defined, as a minimum, to include its frictional characteristics and integrity as follows: 1. Within 60 days of project acceptance by the Department, all lanes of each patterned crosswalk shall be evaluated for surface friction. Friction Testing will be provided by Ennis Flint as noted in attached letter. Any installation deficiences reflected in the testing shall be the responsibility of the contractor or material malfunction by the supplying vendor. The friction test shall be conducted using either a locked wheel tester in accordance with FM 5 -592 (Florida Test Method for Friction Measuring Protocol for Patterned Pavements) or a Dynamic Friction Tester in accordance with ASTM E1911. FM 5 -592 can be accessed at the following link: http: / /materially dot st tt ilioladministratioul res , res/lib a: v /puhlic«1 ons!fstm /V1ctlhoti4:f` 775- 592.pdf The initial friction resistance shall be at least 35 obtained at 40 mph with a ribbed tire test (FN4OR) or equivalent. Failure to achieve this minimum resistance shall require all deficient crosswalk areas to be removed to their full extent (lane -by -lane) and replaced with the same product installed initially. If the Department determines that more than 50% of the lanes in the intersection require replacement, the entire intersection installation may be reconstructed with a different product on the Qualified Products List (QPL) or replaced with conventional pavement. 2. Approximately one year after project acceptance and every two years thereafter and for the life of the adjacent pavement, only the outside traffic lane areas of each patterned crosswalk shall be tested for friction resistance in accordance with ASTM E274 or ASTM E1911. Friction resistance shall, at a minimum, have a FN4OR value of 35 (or equivalent). 3. The results of all friction tests shall be sent to the District's Warranty Coordinator with a cover letter either certifying that the crosswalks comply with the minimum friction criteria, or stating what remedial action will be taken to restore the friction. 4. Failure to achieve the minimum resistance shall require all lanes of the crosswalk to be friction tested to determine the extent of the deficiency. All deficient areas shall be removed to their full extent (lane -by -lane) and replaced with the same product installed initially. If the Department determines that more than 50 °/o of the lanes in the intersection require replacement, the entire intersection installation may be reconstructed with a different product on the QPL or replaced with conventional pavement. For the period under which the warranty for the material is applicable or, as for the contractor liability, the installation warranty/bond is effective. 5. When remedial action is required in accordance with the above requirements, the local agency shall complete all necessary repairs at its own expense within 90 days of the date when the deficiency was identified. No more than two full depth patterned pavement repairs shall be made to an area without first resurfacing the underlying pavement to 1" minimum depth. 6. The Department will not be responsible for replacing the treatment following any construction activities in the vicinity of the treatment. 7. Should the local agency fail to satisfactorily perform any required remedial work in accordance with this agreement, the Department reserves the right to replace the patterned pavement with conventional pavement (matching the adjacent pavement) and bill the local agency for this cost. Rest of this page intentionally left blank. FM #425846- 1 -52 -02 LFA: City of Okeechobee Page 1 of 5 LOCALLY FUNDED AGREEMENT BETWEEN THE STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION AND CITY OF OKEECHOBEE This is an Agreement between the STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION, (hereinafter, the "DEPARTMENT ") and CITY OF OKEECHOBEE, (hereinafter, the "CITY ") for the CITY to provide funds to the DEPARTMENT for patterned crosswalks. WITNESSETH 1. WHEREAS, at the request of the COUNTY, the DEPARTMENT has included in its Five Year Work Program the SR 70 at US 441 patterned crosswalks improvements under FM #425846- 1-52-02 in Fiscal Year 2013/2014 (hereinafter, the "PROJECT "); and 2. WHEREAS, the estimated PROJECT cost is SEVENTY TWO THOUSAND AND ONE HUNDRED TWELVE DOLLARS ($72,112.00); and 3. WHEREAS, the CITY agrees to provide all funding to the DEPARTMENT for the cost of the PROJECT; and 4. WHEREAS, the CITY, by Resolution dated the 5 day of November, 2013, a copy of which is attached hereto and made a part hereof, has authorized the Mayor or Designee to enter into this Agreement. NOW THEREFORE, in consideration of the mutual benefits to be derived from joint participation in this Agreement, the parties agree as follows: 1. The CITY shall, at least 14 (fourteen) calendar days prior to the DEPARTMENT's advertising the PROJECT for bid, furnish the DEPARTMENT a deposit in the amount of SEVENTY TWO THOUSAND AND ONE HUNDRED TWELVE DOLLARS ($72,112.00) for full payment of the estimated PROJECT cost for locally funded project number 425846- 1- 52 -02. The DEPARTMENT may utilize this deposit for payment of the costs of the PROJECT. 2. The DEPARTMENT shall deposit the above amount in an interest bearing account with the Department of Financial Services, Division of Treasury, in the name of the Florida Department of Transportation and in accordance with the terms and conditions of the Memorandum of Agreement executed by the DEPARTMENT, the CITY and the Department of Financial Services, which is incorporated by reference into this Agreement. All deposits shall be made payable to the Department of Financial Services, Revenue Processing and mailed to the Florida Department of Transportation: Florida Department of Transportation 00C-GAO, LFA Section 605 Suwannee Street, MS 42B FM #425846- 1 -52 -02 LFA: City of Okeechobee Page 2 of 5 Tallahassee, FL 32399 3. Failure of the CITY to deposit the amount and within the time frame specified above in Paragraph 1 shall be grounds for termination of this Agreement. 4. The CITY agrees to provide additional funding as needed to complete the PROJECT. If the PROJECT is terminated by the DEPARTMENT through no fault of the CITY, the DEPARTMENT shall return to the CITY all the unexpended funds including interest on the deposit. 5. Interest from the Account shall be left in the Account to cover future deficiencies. 6. If the accepted bid amount plus allowances are in excess of the advance deposit amount, the CITY will provide an additional deposit within fourteen (14) calendar days upon notification from the DEPARTMENT or prior to posting of the accepted bid, whichever is earlier, so that the total deposit is equal to the bid amount plus allowances. The DEPARTMENT will notify the CITY as soon as it becomes apparent the accepted bid amount plus allowances are in excess of the advance deposit amount; however, failure of the DEPARTMENT to so notify the CITY shall not relieve the CITY from its obligation to pay for its full participation on final accounting as provided herein below. If the CITY cannot provide the additional deposit within 14 (fourteen) days, a letter must be submitted to and approved by the DEPARTMENT' S project manager indicating when the deposit will be made. The CITY understands that the request and approval of the additional time could delay the PROJECT, and additional costs may be incurred due to a delay of the project. 7. If the accepted bid amount plus allowances are less than the advance deposit amount, the DEPARTMENT will refund the amount by which the advance deposit exceeds the bid amount plus allowances if such refund is requested by the CITY in writing. However, failure of the CITY to request the refund from the DEPARTMENT shall not relieve the DEPARTMENT from its obligation to refund the amount determined on final accounting. 8. Should PROJECT modifications or changes to bid items occur that increase the total PROJECT costs, the DEPARTMENT shall notify the CITY in advance and provide documents for review and acceptance by the CITY. The CITY agrees to provide, without delay, in advance of the additional work being performed, adequate funds to ensure that cash on deposit with the DEPARTMENT is sufficient to fully fund the PROJECT. The DEPARTMENT shall notify the CITY as soon as it becomes apparent the actual costs will overrun the award amount; however, failure of the DEPARTMENT to so notify the CITY shall not relieve the CITY from its obligation to pay during the PROJECT and on final accounting as provided herein below. Funds due from the CITY and not paid to the DEPARTMENT within 40 (forty) calendar days from the date of the invoice are subject to an interest charge at a rate established pursuant to Fla. Stat. §55.03. 9. The DEPARTMENT intends to have its final and complete accounting of all costs incurred in connection with the work performed hereunder within three hundred and sixty days (360) of final payment to the Contractor(s). The DEPARTMENT considers the PROJECT complete when the final payment has been made to all Contractor(s). All PROJECT cost records and accounts shall be subject to audit by a representative of the CITY for a period of three (3) years FM #425846- 1 -52 -02 LFA: City of Okeechobee Page 3 of 5 after final close out of the project. The CITY will be notified of the final cost. Both parties agree that in the event the final accounting of total project costs pursuant to the terms of this agreement is less than the total deposits to date, a refund of the excess including any accrued interest will be made by the DEPARTMENT to the CITY. If the final accounting is not performed within three hundred and sixty (360) days, the CITY is not relieved from its obligation to pay and the Department is not relieved from its obligation to make the refund. 10. In the event the final accounting of total project costs is greater than the total deposits to date, the CITY will pay the additional amount within forty (40) calendar days from the date of the invoice from the DEPARTMENT. The CITY shall pay interest at a rate as established pursuant to Fla. Stat. §55.03, on any invoice not paid within forty (40) calendar days until the invoice is paid. 11. The DEPARTMENT shall provide PROJECT schedule progress reports to the CITY in the standard format used by the DEPARTMENT and at intervals established by the DEPARTMENT. The CITY will be entitled at all times to be advised, at its request, as to the status of work being done by the DEPARTMENT and of the details thereof. Either party to the Agreement may request and be granted a conference. 12. All tracings, plans, specifications, maps and /or reports prepared or obtained under this Agreement shall be considered works made for hire and shall become the property of the DEPARTMENT without restriction or limitation on their use. 13. The DEPARTMENT shall not be obligated or liable hereunder to any party other than the CITY. The CITY shall not be obligated or liable hereunder to any party other than the DEPARTMENT. 14. If any part of this Agreement shall be determined to be invalid or unenforceable by a court of competent jurisdiction or by any other legally constituted body having the jurisdiction to make such determination, the remainder of this Agreement shall remain in full force and effect provided that the part of this Agreement thus invalidated or declared unenforceable is not material to the intended operation of this Agreement. 15. The parties recognize and accept the funding restrictions set forth in Fla. Stat. §339.135(6)(a), and Fla. Stat. §166.241, which may affect each of the parties' obligations. Accordingly, the DEPARTMENT'S performance and obligation to pay under this Agreement is contingent upon an annual appropriation by' the Legislature, and the CITY'S performance and obligation to pay under this Agreement is contingent upon an annual appropriation by the CITY Commissioners. The DEPARTMENT ensures that Fla. Stat. §339.135(6)(a) is contained in its contracts as required by this statutory provision. a. Florida Statutes §339.135(6)(a): The Department during any fiscal year shall not expend money, incur any liability, or enter into any contract which, by its terms, involves the expenditure of money in excess of the amounts budgeted as available for expenditure during such fiscal year. Any contract, verbal or written, made in violation of this subsection is null and void, and no money may be paid on such contract. The Department shall require a statement from the Comptroller of the Department that funds are available prior to entering into any such contract or other binding commitment of funds. Nothing herein contained shall prevent the making of contracts for periods exceeding 1 year, but FM #425846- 1 -52 -02 LFA: City of Okeechobee Page 4 of 5 any contract so made shall be executory only for the value of the services to be rendered or agreed to be paid for in succeeding fiscal years; and this paragraph shall be incorporated verbatim in all contracts of the Department which are for an amount in excess of $25,000 and which have a term for a period of more than 1 year. 16. When either party receives a notice of claim for damages that may have been caused by the other party in the performance of services required under this Agreement, that party will immediately forward the claim to the other party. Each party will evaluate the claim and report its findings to each other within fourteen (14) working days and will jointly discuss options in defending the claim. 17. This Agreement shall continue in effect and be binding on the parties until the PROJECT is completed. However, the city's obligation to maintain the PROJECT after completion shall survive the term of this Agreement. 18. This document incorporates and includes all prior negotiations, correspondence, conversations, agreements, or understandings applicable to the matters contained herein, and the parties agree that there are no commitments, agreements or understandings concerning the subject matter of this Agreement that are not contained in this document. Accordingly, it is agreed that no deviation from the terms hereof shall be predicated upon any prior representations or agreements whether oral or written. It is further agreed that no modification, amendment or alteration in the terms or conditions contained herein shall be effective unless contained in a written document and executed by both parties. 19. Vendors /Contractors shall utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the Vendor /Contractor during the term of the contract; and Vendors /Contractors shall expressly require any subcontractors performing work or providing services pursuant to the state contract to likewise utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the subcontractor during the contract term. 20. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 21. All notices under this Agreement shall be directed to the following: TO DEPARTMENT: Amy Setchell, Project Manager Florida Department of Transportation 801 N. Broadway PO Box 1249 Bartow, FL 33831 -1249 TO CITY: Brian Whitehall, Administrator City of Okeechobee City Hall 55 SE 3rd Avenue Okeechobee, FL 34974 FM #425846- 1 -52 -02 LFA: City of Okeechobee Page 5 of 5 IN WITNESS WHEREOF, CITY OF OKEECHOBEE has caused this Agreement to be executed in its behalf, by the Mayor or authorized designee, as authorized by Resolution Number 2013 -12 , and the FLORIDA DEPARTMENT OF TRANSPORTATION has caused this Agreement to be executed in its behalf through its District Secretary or authorized designee. This Agreement shall become effective DEAPARTMENT to enter date. CITY OF OKEECHOBEE lane Camiotea ATTEST (Seal) Mayor James E. Kirk November 5, 2013 DATE PRINT NAME DATE CITY LEGAL REVIEW: John R. Cook, City Attorney LNo cetnber 5, 2013 DATE STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION e(6ke EXECUTIV', SECRETARY (SEAL) BY: DISTRICT SECRETARY OR DESIGNEE O ESE R CleraidyM / w. !I �13 / T PNT NAME DATE PRINT NAME DATE FLA. DEPT. OF BANS. LEGAL REVIEW: BY: / /-AJ y3 DATE MEMORANDUM OF AGREEMENT dk THIS AGREEMENT, made and entered into this , day o , 20'13, by and between the State of Florida, Department of Transportation, hereinafter referred to as "FDOT" and the State of Florida, Department of Financial Services, Division of Treasury, hereinafter referred to as "TREASURY" and (City of Okeechobee), hereinafter referred to as the "PARTICIPANT ". WITNESSETH WHEREAS, FDOT is currently constructing the following project: Main Financial Project No.:425846- 1 -52 -02 City:Okeechobee hereinafter referred to as the "PROJECT ". WHEREAS,,, FDOT and the PARTICIPANT entered into a Locally Funded Agreement dated November CIS , 2013 , wherein FDOT agreed to perform certain work on behalf of the PARTICIPANT in conjunction with the PROJECT. WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the best interest of 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 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 SEVENTY TWO THOUSAND AND ONE HUNDRED TWELVE DOLLARS ($72,112.00) will be made by the PARTICIPANT into an interest bearing escrow account established by FDOT for the purposes of the PROJECT. Said escrow account will be opened with the TREASURY on behalf of FDOT upon receipt of this Memorandum of Agreement. Such account will be an asset of 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. 3. Payment will be made as follows (check appropriate payment method): LI 0 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 # 001009068974 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 FDOT, 00C- GAO for appropriate processing at the following address: Florida Department of Transportation 00C-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 Office should instruct the PARTICIPANT to mail the District Office a copy of the check. 4. 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 FDOT, 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 FDOT. 7. The TREASURY further agrees to provide periodic reports to FDOT. 3 Op. E OF FLORIDA DEPARTMENT OF TRA COMPTROLLER TA RTATION STATE OF FLORIDA DEPARTMENT OF FINANCIAL S, DIVISION OF TREASURY S TICIPANT SIGNATURE James E. Kirk, Mayor PARTICIPANT NAME & TITLE 55 Southeast 3rd Avenue PARTICIPANT ADDRESS Okeechobee, Florida 34974 59- 6000-393 FEDERAL EMPLOYER I.D. NUMBER