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Agreement No. D08-042 G. This Agreement sets forth the terms and conditions by which the County will extend a portion of its Proposition IE allocation to the City. and the City will follow all State Proposition IE laws, State regulations. and any and all guidelines or other documents issued by the Department of Finance, the Controller, or any other State agency that is intended to interpret Proposition IB ("Proposition IE Requirements"). SECTION I IT IS MUTUALLY UNDERSTOOD BY THE PARTIES THAT: A. County shall submit a Proposition IB project list to the Department of Finance for review and disbursement of the County's first Proposition IE allocation. The City project(s) approved by the Board of Supervisors for Proposition IE funding is attached hereto as Exhibit A. This Agreement allows the disbursement of a portion of the County's Proposition IB funds to the City without the requirement of City submitting an invoice requesting Proposition IE funds. B. Upon receipt of this allocation from the State, County will timely issue a portion of its allocation to City, in the amount shown on Exhibit A, or as limited by the State should the State pre-determine that any City project or portion of the project is ineligible. C. City shall abide by all Proposition IE Requirements, as these requirements may change from time to time. This includes, but is not limited to, meeting the project delivery and expenditure deadlines, and using the County's Proposition IE allocation to reduce City's traffic congestion and further deterioration, improving traffic flows, or increasing traffic safety. D. County will conduct a City expenditure assessment at the end of the twelve (12) and twenty-four (24) month periods in order to verify if City is expending its Proposition IE allocation as provided for by Proposition IE Requirements. City shall report the status of its Proposition IE project(s) to County on or before June 10,2009 and June 10, 2010 for FY 2007-08 allocation. The status report shall include the date of project award, amount of award, percent completion of project, estimated completion date, the amount of funds that have been expended, and the remaining County Proposition IB allocation to be expended. In the event County wishes to conduct a City expenditure assessment at any time prior to the end of a fiscal year, City shall provide a status report to County within two (2) weeks of a written request in accordance with Section I.D. E. County will prepare any necessary amendments to the Proposition IE project list in June 2009 and June 2010 based on the status reports of all Proposition IE participating cities. If one or more city status reports show an inability to expend the entire Proposition IB allocation within the required statutory timeframe, or if the County or State deems any expenditure to be ineligible, County in its sole discretion will determine whether to reallocate the unexpended city funds to the City by preparing a revised Proposition IB project list for the DOF and an amendment to this Agreement. In no event will County submit a revised project list to the DOF more than once per fiscal year. F. City shall expend its Proposition IB allocation no later than June 30, 2011 per Proposition IE Requirements. Fiscal year 07-08 Proposition IE funds may only be expended after Page 2 of 6