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<br />WHEREAS, at a public meeting held on January 18, 2006, the School Board <br /> <br /> <br />authorized the Superintendent or his designee to initiate eminent domain proceedings to <br /> <br /> <br />acquire the Subject Site and authorized an amendment to the School Board's Five-Year <br /> <br /> <br />Capital Plan to increase funding from the current allocation for acquisition of the Subject <br /> <br /> <br />Site; and <br /> <br /> <br />WHEREAS, the parties to this Interlocal Agreement have expressed a desire to <br /> <br /> <br />enter into this Agreement in order to construct a public school for the benefit of the <br /> <br /> <br />residents of the City and the general public and to provide a framework for the <br /> <br /> <br />development and construction of the proposed school; and <br /> <br /> <br />WHEREAS, the School Board and the City have determined that it is necessary <br /> <br /> <br />and appropriate to enter into this Agreement to clarify various obligations for future <br /> <br /> <br />cooperation between the School Board and the City related to acquisition, financing, and <br /> <br /> <br />operation of the school; and <br /> <br /> <br />WHEREAS, the School Board, and the City have determined that it shall serve the <br /> <br /> <br />public interest to enter into this Agreement and the School Board shall secure the Subject <br /> <br /> <br />Site for the purpose of providing a public school for the benefit of the residents of the City <br /> <br /> <br />and the general public. <br /> <br /> <br />NOW, THEREFORE, in consideration of the terms and conditions, promises and <br /> <br /> <br />covenants hereinafter set forth, the parties agree as follows: <br /> <br /> <br />Section 1. Recitals Incorporated. The above recitals are true and correct and <br /> <br /> <br />incorporated herein. <br /> <br /> <br />Section 2. Purpose. The purpose of this Interlocal Agreement is to outline the <br /> <br /> <br />responsibilities of the School Board and the City with respect to the sharing of costs in <br /> <br /> <br />acquiring the Subject Site, the joint use of the adjacent City park, closure of an intervening <br /> <br />Page 3 of 10 <br />