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Most of the gasoline sales tax revenues for the period 2003 - 2008 have already been <br />committed by the Governor, and therefore the Proposition 42 monies flowing to cities during that <br />period will not be at their full funding level. During that five-year period, It Is estimated that <br />Redwood City will receive a total of approximately $961,000 for transportation-related projects. <br />Then, beginning in 2009, Redwood City's annual Proposition 42 revenues are estimated at <br />$680,000, with a twenty-year total estimated at approximately $16 million (in 2001 dollars, and <br />Including growth assumptions). <br /> <br />This proposition Is supported by the League of California Cities and a wide variety of private and <br />public entities, including, a number of individual cities, counties, chambers of commerce, <br />taxpayers' associations, and public safety organizations. <br /> <br />Alternative <br />1. The City Council could choose not to adopt the attached resolution, and not go on record In <br /> support of Proposition 42. <br /> <br />Flacal Impact <br />Adoption of this resolution, and subsequent passage of Proposition 42 by the voters, will have a <br />positive financial impact on City revenues, estimated at $961,000 total for the years 2003 - <br />2008, and an estimated 20-year total of $19.5 million. <br /> <br /> Magda Gonzalez E~I Everett' <br /> Public Communications Assistant to the City Manager City Manager <br /> Manager <br /> <br /> Attachment <br /> Official ballot language and text of Proposition 42 <br /> <br /> <br />