City of Rolling Hills (Proposition A Local Return Funds) PROPOSITION A ASSIGNMENT AGREEMENT
This Assignment Agreement is made and entered into this 10111 day of
October, 2016 by and between the City of Rolling Hills and the City of Rancho Palos
Verdes,with respect to the following facts:
A. The City of Rancho Palos Verdes in coordination with the Palos Verdes Peninsula
Transit Authority and the City of Rolling Hills Estates, propose to expend the Proposition
A Funds to improve the quality and safety of and/or access to public transit services
along Silver Spur Road adjacent to Peninsula High School and Promenade on the
Peninsula Mall. The proposed improvements will include the following amenities:
• Construction of Bus Pads or concrete landings
• Construction of Bus Shelters
• Installation of Bus benches
• Construction of ADA improvements
B. The City of Rolling Hills has an accumulation of uncommitted Proposition A
Local Return funds which could be made available to the City of Rancho Palos Verdes to
assist in providing the services described in Paragraph A of this Agreement. The City of
Rolling Hills is willing to assign uncommitted Proposition A Local Return funds to the
City of Rancho Palos Verdes for the purpose identified in Paragraph A.
Now, therefore, in consideration of the mutual benefits to be derived by
the parties and of the premises herein contained, it is mutually agreed as follows:
1. Exchange. The City of Rolling Hills agrees to assign $75,000 of its
uncommitted Proposition A Local Return funds to the City of Rancho Palos Verdes in
Fiscal Year 2016/17. In return, the City of Rancho Palos Verdes agrees to assign $56,250
(exchange rate: $1.00/$0.75) in General Funds to the City of Rolling Hills in Fiscal Year
2016/17.
2. Consideration. The City of Rolling Hills shall assign the agreed upon
Proposition A Local Return funds to the City of Rancho Palos Verdes in one payment no
later than June 30, 2017. The City of Rancho Palos Verdes shall assign the agreed upon
General Funds to the City of Rolling Hills in one payment no later than June 30, 2017.
3. Term. This Agreement is effective on the date above written and for
such time as is necessary for both parties to complete their mutual obligations under this
Agreement.
4. Termination. Termination of this Agreement may be made by either
party before the date of approval of the project description covering the funds in question
by the Metropolitan Transportation Authority, so long as written notice of intent to
terminate is given to the other party at least five (5) days prior to the termination.
5. Notices. Notices shall be given pursuant to this Agreement by personal
service on the party to be notified, or by written notice upon such party deposited in the
custody of the United States Postal Service addressed as follows:
a. Raymond R. Cruz, City Manager
City of Rolling Hills
2 Portuguese Bend Road
Rolling Hills, California 90274
b. Doug Willmore, City Manager
City of Rancho Palos Verdes
30940 Hawthorne Blvd
Rancho Palos Verdes, California 90275
6. Assurances
a. The City of Rancho Palos Verdes shall use the assigned Proposition A
Local Return Funds only for the purpose of providing the project discussed in Paragraph
A of this Agreement and within the time limits specified in Metropolitan Transportation
Authority's Proposition A Local Return Program Guidelines.
b. Concurrently with the Execution of this Agreement, the City of Rancho
Palos Verdes shall provide the Metropolitan Transportation Authority with the Standard
Assurances and Understandings Regarding Receipt of Use of Proposition A Funds
specified in the Guidelines regarding the use of the assigned Proposition A Local Return
Funds.
IN WITNESS WHEREOF, the parties hereto have caused this Assignment
Agreement to be executed by their respective officers, duly authorized, on the day and
year written above.
CITY OF RANCH PALOS VERDES CITY OF ROLLING HILLS
By: tgia' • By:
City Manager Ci anager
Attest:
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City Clerk City lerk
Approved as to Form:
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Attorney WCi Attorney `�