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PIF Grant Agreement — Sparling Well Improvement Project <br />Grant Agreement by and Between <br />JEFFERSON COUNTY <br />and <br />The Jefferson County Public Utility District No. <br />For Public Infrastructure Project Funding <br />Sparling Well Improvement Project <br />WHEREAS, RCW 82.14.370 authorizes a sales and use tax to provide funding of public <br />infrastructure. projects; and <br />WHEREAS, pursuant to RCW 82.14.370, Jefferson County has established the Public <br />Infrastructure Fund and a program for its administration as codified in Jefferson County Code <br />Chapters 3.28, 3.29 and 3.36; and <br />WHEREAS, on October 2, 2007, the Public Infrastructure Fund Board recommended that the <br />County approve a 50% ($250,000) grant, and 50% ($250,000) loan for a total of $500,000 to <br />fund up to 50% of the cost of the Sparling Well Improvement Project; and <br />WHEREAS, the Jefferson County Board of County Commissioners authorized a 50% <br />($250,000) grant, and 50% ($250,000) loan for a total of up to $500,000 to fund up to 50% of the <br />cost of the Sparling Well Improvement Project; and <br />WHEREAS, through December 31, 2009, the PUD has invoiced and received $36,558 in PIF <br />funds for Sparling Well Improvement Project for up to 50% of PUD expenditures on the project; <br />and <br />WHEREAS, on February 18, 2011, the PUD requested that the 50% grant/50% loan be <br />converted to a 100% grant for the Sparling Well Improvement Project; and <br />WHEREAS, the Public Infrastructure Fund Board at their March 11, 2011 meeting <br />recommended that the prior 50% grant/50% loan PIF funding of the PUD's Sparling Well <br />Project be converted to a 100% PIF grant of up to $500,000 to fund up to 50% of the cost of the <br />Sparling Well Project; and <br />WHEREAS, the Jefferson County Board of Commissioners concurs with the Public <br />Infrastructure Board's recommendation; <br />NOW, THEEFORE, Jefferson County, a municipal corporation in Washington State, hereinafter <br />referred to as "County," and the Jefferson County Public Utility District No. 1, a municipal <br />corporation in Washington State, hereinafter referred to as "PUD," in consideration of the mutual <br />benefits, terms, and conditions hereinafter specified, do hereby agree as follows: <br />Page 1 of 4 <br />