AgdaPkt 2004-05-10 - Laserfiche WebLink

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q.A-U 4. The Transportation Authority is charged with a fiduciary duty in administering the tax proceeds in accordance with the applicable laws and this Transportation Expenditure Plan. Receipt of tax proceeds may be subject to appropriate terms and conditions as determined by the Transportation Authority in its reasonab: e discretion, including, but not limited to, the right to require recipients to execute funding agreements and the. right to audit recipients' use of the tax proceeds. E. Actual tax proceeds may be higher or lower than estimated in this Transportation Expenditure Plan over the 25-year term. This Transportation Expenditure Plan is based on the percentage distributions to each Program Category and Project and the dollar values included are estimates only. Actual tax proceeds will be programmed annually in accordance with the percentage distributions in this Transportation Expenditure Plan. F. The Transportation Authority will prepare a Strategic Plan prior to January 1, 2009, which will identify funding prioritization criteria consistent with the goals and objectives of the Countywide Transportation Plan and this Transportation Expenditure Plan. The Strategic Plan will include general procedures for project sponsors to initiate a project and identify an implementation schedule and the programming of funds for each listed project. Criteria will include priority for transportation projects which support transit-oriented development. For those projects which include a list of Candidate Projects (the County-wide Supplemental Project under the Highway Program Category, the Grade Separation Program Category, and the Pedestrian and Bicycle Program Category), the Strategic Plan will also include the evaluation criteria and prioritization for selection of Candidate Projects. Once a Candidate Project is selected, it will become a listed project in the Strategic Plan. Lastly, the Strategic Plan will include the evaluation criteria for reallocation of tax proceeds that become available pursuant to Section VI.G below. The Strategic Plan will be updated at least every five years during the term of the Measure. G. The ability to fully fund or complete all programs or projects in this Transportation Expenditure Plan may be impacted by changing circumstances over the duration of the tax. Tax proceeds originally allocated to a listed project may become available for reallocation due to any of the following reasons: 1. a listed project is completed under budget; 19