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RESOLUTION NO. 2024-077 <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 AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />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 Authority <br />(OCTA) in order to remain eligible to receive M2 funds. <br />B. Local jurisdictions are required to adopt an annual M2 Expenditure Report as <br />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 M2 <br />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 to be <br />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 FY <br />2023/24 Measure M2 Expenditure Report is in conformance with the template provided <br />in the Measure M2 Eligibility Guidelines and accounts for Net Revenues including interest <br />earned, expenditures during the fiscal year, and balances at the end of fiscal year. <br />Section 3. The M2 Expenditure Report is hereby adopted by the City of Santa <br />Ana. <br />Section 4. The City of Santa Ana Finance Director is hereby authorized to sign <br />and submit the M2 Expenditure Report to OCTA for the fiscal year ending June 30, 2024. <br />Section 5. This Resolution shall take effect immediately upon its adoption by the <br />City Council, and the City Clerk shall attest to and certify the vote adopting this Resolution. <br />Resolution No. 2024-077 <br />Page 1 of 2 <br />