; and (ii) to furnish performance and payment bonds in connection with the system in a reasonable amount as determined by the Secretary; and (F) require the entity to make any investments in technologies necessary over the life of the agreement to meet future requirements for advanced timing resiliency. (2) Competition required The Secretary shall use competitive procedures similar to those authorized under section 2667 of title 10, United States Code, in selecting an entity to enter into a cooperative agreement pursuant to this subsection. (3) Authorization to purchase services The Secretary may, subject to the availability of appropriations, purchase timing system services from the entity, once the system achieves operational status, for use by the Department of Transportation and for provision to other Federal and non-Federal agencies as described in this section. The costs of such services may be offset, in whole or in part, pursuant to the revenue sharing provision required by paragraph (1)(D). (4) Determination The Secretary may not enter into a cooperative agreement under this subsection unless the Secretary determines that the agreement is in the best financial interest of the Federal Government. The Secretary shall notify the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives of such determination not later than 30 days after the date of the determination. (5) Definition In this subsection the term entity means a non-Federal entity with the demonstrated technical expertise and requisite administrative and financial resources to meet any terms and conditions established by the Secretary for purposes of this subsection.