AgdaPkt 2009-01-12 clsd and reg - Laserfiche WebLink

Browse Search

6.18 Page 3 "'~~;r.~Jm:~l~tt't^.~'~PK~~~M~ ...... .OR ~ ".~"."~'" ..;~I.", ,.';.~\.....I!:.,...,.. ....QI..,.,...JH..I.,.~.(t. .Q_t. ..... WIrH ; <:'.::::.', :i'.VtA~\j~'~;.~'.'.7 .':".'..,<~~~;~~ff~~~~V~~~~Y:::1.l~~Q.,\..:';::': ;'.:. ;:..::.... . . .... ., .. . . . .. .... . . Thi$'~r&e.~~.j$..ffiaaettils. ...... . day of ..' .' 20.0.,...,-! by.~ht(b.e~n ths. SAN MATEO COUNTY T~~~~R:r.AJJq~. ^~rttQ~TY ("A~m9rltt.),. ~. p'qJ;tj~.;~y~,y~ior.h and ('rCi~)~:.a 'fnuhlclpal"oorpOiation, With. r$ferericie :t(H~ f(jllOWing:' wliEReM,..at- the.: G~nerai EiediOn of' J.une. 7, 198a:, the. VOt$rs. Qf S:an. Mal$Q County. approve'd Measure A, -An Qr.dlnanee.-prQvfdlng for the crea.t1cm of the Sa.n Mateo County Trai'lspo.rtatlon Authority,. for ~'lmpoSitlQn. of a [1/2. cent] Transacfloh$ and US.e Tax, fOr.the Issuaa~ of limited Tax Bonds. and for Other Purposes,. which Measure wilt' expire Oecember 31-,2008;and WHEREAS. Measure A contained the San Mateo County Transportation Expenditure Plan, authorizing the collection and distribution by the Transportation Authority of the 1/2 cent transactions and use tax; and . WHEREAS, at the General Election of November 2. 2004, the voters of San Mateo County approved the continuation of the collection and distribution by the Authority of the Measure A 1/2 cent transact~ons and use tax ("Transactions and Use Tax") for an. additional 25 years, beginning January 1, 2009; and WHEREAS, the new Measure A referenced above contains a new San Mateo County Transportation expenditure Plan ("TEP") attached hereto as Exhibit A; and WHEREAS, the State legislation which enabled the original and continued Measure A to ~ .~~..~.~~ .y.~~~ .(~~~~'.~.~~i~..~~ .~~~n 1.~,1J()Q .e~ ~.) ~~ .~QP.t~d..wJth. the Intention that the funds generated by the Transactions and Use Tax shall not constitute replacement by local entities. of funds previously provided by property tax revenues or other locar revenues for transpGI tatlon 'purposes; and .,::_~the:;TEP,:,~~'i"~~nUation Of'M..$Ut8.~A.indqde~S"arl'''iI~f ... allocatiOri 'or~;.s~. ,ot'~he..tOt8I".revenue'gerinted 'by the TransaCtions ancf'Ose Tax '(~sly 20% under the 1988 Measure.A) to.the dtIes of San . Mateo County and to the County Gf'San Mateo for the improvement or maintenance of local transportation, Including streets and roads. in accordance with the fonnula specified in Exhibit B and incorporated herein by this reference; and WHEREAS, the Authority entered into agreements with each city in the County, and with the County, for distribution' of-San Mateo County Measure A iunds .for local transportation purposes to fonnallze the process and the terms and conditions goveming the allocation of transactions and use tax revenues under the 1988 Measure A for the aforementioned purposes; and WHEREAS, as the 1988 Measure A will expire December 31, 2008, its related agreements for distribution of Transactions and Use Tax revenues for local transportatfon purposes will also be terminated by their own terms; and 1 1485104.8