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Item 26 - Adopt OCTA Funding Program Eligibility Requirements
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12/19/2023 Regular
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Item 26 - Adopt OCTA Funding Program Eligibility Requirements
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12/15/2023 1:53:25 PM
Creation date
12/14/2023 3:33:44 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
26
Date
12/19/2023
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EXHIBIT 2 <br />RESOLUTION NO. 2023-XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA CONCERNING THE MEASURE M2 <br />EXPENDITURE REPORT FOR THE CITY OF SANTA ANA <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />AS FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, <br />determines and declares as follows: <br />A. Local jurisdictions are required to meet eligibility requirements and submit <br />eligibility verification packages to the Orange County Transportation <br />Authority (OCTA) in order to remain eligible to receive M2 funds. <br />B. Local jurisdictions are required to adopt an annual M2 Expenditure Report <br />as part of one of the eligibility requirements. <br />C. Local jurisdictions are required to account for Net Revenues, <br />developer/traffic impact fees, and funds expended by local jurisdiction in the <br />M2 Expenditure Report that satisfy the Maintenance of Effort requirements. <br />D. The M2 Expenditure Report shall include all Net Revenue fund balances, <br />interest earned and expenditures identified by type and program or project. <br />E. The M2 Expenditure Report must be adopted and submitted to the OCTA <br />each year within six months of the end of the local jurisdiction's fiscal year <br />to be eligible to receive Net Revenues as part of M2. <br />Section 2. The City Council of the City of Santa Ana hereby finds that the <br />FY 2022/23 Measure M2 Expenditure Report is in conformance with the template <br />provided in the Measure M2 Eligibility Guidelines and accounts for Net Revenues <br />including interest earned, expenditures during the fiscal year, and balances at the end <br />of fiscal year. <br />Section 3. The M2 Expenditure Report is hereby adopted by the City of <br />Santa Ana. <br />Section 4. The City of Santa Ana Finance Director is hereby authorized to <br />sign and submit the M2 Expenditure Report to OCTA for the fiscal year 2022/23. <br />Resolution No. 2023-XXX <br />Page 1 of 2 <br />
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