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• This agreement is entered into pursuant to the Endangered Species Act, Public Law 93 -205, and the Fish <br />and Wildlife Coordination Act of 1934 as amended, including Public Law 85 -624, and applicable laws of <br />the States of Colorado, Nebraska, and Wyoming. <br />SECTION B. STATEMENT OF WORK AND RESPONSIBILITIES OF THE PARTIES <br />B.l . SERVICES TO BE PROVIDED AS A CONTRACTING AGENT <br />a. The Foundation will become the Governance Committee' s contracting agent for the <br />Executive Director' s contract, and contracts in support of Subcommittee tasks.. A detailed <br />description of such services shall be negotiated in advance by the Governance Committee, the <br />Executive Director, and the Foundation, but in general terms, the Foundation shall be responsible <br />only for the financial aspects of the Executive Director' s relationship with the Governance <br />Committee; all supervisory and related responsibilities shall be retained by the Governance <br />Committee. The estimated amounts of funds budgeted to perform these services are shown on <br />Attachment IV. <br />b. The Foundation and the Governance Committee may identify additional support services to be <br />performed by the Foundation for the Governance Committee, such as fund raising. The <br />Foundation shall not enter into any contract without Governance Committee authorization or any <br />contract that commits the States or Federal Government to expenditure of funds that exceed the <br />amount authorized by the Governance Committee. All such contracts shall include language <br />which is acceptable to each party to this agreement and which conditions the contract -on the <br />continuing availability of funds from the parties.. <br />. The Governance Committee, or the Executive Director, to the extent authorized by the <br />Govemance Committee, will review and approve all proposed contracts. The States and Federal <br />Government may provide technical assistance to the Foundation on an as- needed basis to assist in <br />development of contracts. <br />B.2. ADMINISTRATION OF CONTRIBUTIONS <br />a. Except as otherwise directed by the Governance Committee, the Foundation will collect all <br />cash contributions received to perform the work required under this Agreement. Except as <br />otherwise directed by the Governance Committee, Contributions requested will reflect each <br />Reclamation and each Party's share of total costs as shown in B.2.9. below.' <br />b. Contributions made by each state shall go into its separate account held by the Foundation. <br />Advances will be made into this account by that state on a periodic (generally quarterly) basis at <br />rates equal to at least that state's share of the Governance Committee's expected obligations for <br />the upcoming period, less any unexpended or unobligated amount remaining from previous <br />advances. At termination of this agreement, any funds remaining in contribution accounts at the <br />time of such termination, except to the extent necessary to cover costs properly incurred prior to <br />such termination, shall be returned to the applicable parties. Such contributions may be invested <br />by the Foundation in money market, certificate of deposit, or other interest guaranteed and <br />insured accounts. Interest earnings from each such investment shall be credited to the applicable <br />state' s account to reduce the amount of that state's next quarterly advance. <br />Sc. Reclamation's contributions shall go into a separate account held by the Foundation. <br />Advances will be made into this account on a periodic (generally quarterly) basis at rates equal to <br />at least the expected federal share of obligations for the upcoming period. Such contributions <br />may be invested by the Foundation in money market, certificate of deposit, or other interest <br />Page 5 of 26 <br />