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CITY of NOVI CITY COU NC IL Agenda Item N April13, 2015SUBJECT: Approval of a Resolution of Support a\'uthorizing submission of a Transportation Alternatives Program grant application for the lTC
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01
Identify the purpose and scope of the cost participation for which the resolution is needed.
02
Obtain a template of a resolution authorizing cost participation, this can usually be found through your organization's legal or compliance department.
03
Customize the resolution to include specific details such as the parties involved, the amount of cost participation, and any terms or conditions.
04
Distribute the resolution to all relevant stakeholders for review and approval.
05
Hold a meeting or discussion to officially adopt the resolution and authorize the cost participation.
06
Keep a copy of the signed resolution on file for future reference and compliance purposes.

Who needs resolution authorizing cost participation?

01
Any organization or entity that is entering into a financial arrangement where multiple parties will be sharing the costs.
02
Companies or business partners engaging in joint ventures or collaborative projects.
03
Government agencies or municipalities working on public-private partnerships or infrastructure projects.
04
Nonprofit organizations or associations coordinating fundraising efforts or shared expenses.
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A resolution authorizing cost participation is a formal declaration by an organization or governing body that affirms the decision to share expenses associated with a specific project or initiative.
Entities such as local government bodies, municipalities, or organizations that plan to engage in shared cost projects are typically required to file this resolution.
To fill out the resolution, you must provide details such as the project description, participating entities, cost distribution, and signatures of authorized representatives.
The purpose is to legally document the agreement between parties regarding the shared financial responsibility for a project, ensuring clarity and accountability.
Key information includes the project name, cost breakdown, revenue sources, participant names, and the effective dates of participation.
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