Agmt20 San Mateo County Transportation Authority

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AGREEMENT FOR DISTRIBUTION OF SAN MATEO COUNTY MEASURE W FUNDS FOR LOCAL TRANSPORTATION PURPOSES IN ACCORDANCE WITH THE SAN MATEO COUNTY CONGESTION RELIEF PLAN, EFFECTIVE JULY 1, 2019 aG This Agreement is made this 17�` day of al:�P-+ 20,14, by and between the SAN MATEO COUNTY TRANSPORTATION AUTHORITY (Authority), a political subdivision, and the City of Redwood City (City), a municipal corporation and charter city, with reference to the following: WHEREAS, effective January 1, 2018, California Public Utilities Code Section 103350 authorized the San Mateo County Transit District (District) to seek voter approval to enact a new retail transactions and use tax, and to permit the District to administer the new tax in its entirety or to transfer proceeds of such tax to the Authority for administration, with such administration to be consistent with the expenditure plan developed for such tax; and WHEREAS, pursuant to Public Utilities Code Section 103350, the District enacted Ordinance No. 105 to impose a new half -cent sales tax for thirty years (Transactions and Use Tax) to fund investment for transportation and public transit in accordance with the San Mateo County Congestion Relief Plan (Congestion Relief Plan), subject to voter approval at the General Election of November 6, 2018; and WHEREAS, the voters of San Mateo County approved the Ordinance, known as "Measure W," to take effect on July 1, 2019; and WHEREAS, the Congestion Relief Plan includes an annual allocation of 12.5% of the total revenue generated by the Transactions and Use Tax for the Local Safety, Pothole & Congestion Relief Improvements Program Category, of which 10% will be allocated annually to the County of San Mateo (County) and the cities of the County (Tax Proceeds) for eligible investments in accordance with the formula specified in Exhibit A attached and incorporated herein by this reference; and WHEREAS, the Authority and the City desire to adopt this Agreement to formalize the process, terms and conditions governing the allocation and expenditure of Tax Proceeds provided to the City for improving safety, reducing congestion, and supporting all modes of travel on the County's roadway system, in accordance with the Congestion Relief Plan (Measure W Funds). NOW, THEREFORE, the parties agree as follows: AUTHORITY agrees: That it shall, within ten (10) days of receipt by the Authority or its fiscal agent of Transactions and Use Tax revenues from the District, typically occurring monthly but not less than twice each quarter, and evincing Transactions and Use Tax revenues for the previous month(s), remit or instruct its fiscal agent to remit to the City the City's portion of the revenues, calculated by the Authority or its fiscal agent according to the formula set forth in Exhibit A. REV: 09-09-19 DZ ATTY/AGR.2019.226/San Mateo County Transportation Authority (Page 1 of 7)