(a) A current estimate of the cost of the project as determined by the authority at the time of the execution of the contract;
(b) An agreement by the authority to make state assistance payments towards the cost of the project; and
(c) An agreement by the municipality, state agency or department, state public authority, or school district to proceed expeditiously with the project and to complete the project in accordance with plans approved by the authority and provide reports as required by the authority.
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