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-34- <br /> APPENDIX IV <br /> ASSURANCES AND UNDERSTANDINGS REGARDING <br /> RECEIPT AND USE OF PROPOSITION A FUNDS <br /> The undersigned, in conjunction with the receipt of funds derived <br /> from the one-half cent sales tax imposed by Ordinance No. 16 <br /> (Prop. A) of the Los Angeles County Transportation Commission <br /> (Commission) ,' and as required by the Commission' s Local Return <br /> Program Guidelines, hereby provides the following assurances <br /> and understandings . <br /> A. The undersigned hereby assures the Commission: <br /> 1. That Prop. A funds will not be substituted for property <br /> tax funds which are currently funding existing public <br /> transportation programs'; <br /> 2. That Prop. A funds will be used for public transit purposes <br /> as defined in the Commission' s Local Return Program Guide- <br /> lines; <br /> 3. That the undersigned will submit to the Commission a <br /> description of the use of funds : <br /> a. For service expansion or new service: at least 60 days <br /> before encumbrance of funds; <br /> b. for other projects: at least 30 days before encumbrance <br /> of funds; <br /> 4. Any proposed use of funds will not duplicate or compete <br /> with any existing publicly-funded transit or paratransit <br /> service; <br /> 5. That Prop. A funds will be used within the year of receipt <br /> plus three years thereafter unless specific permission for <br /> ' a time extension is granted by the Commission; <br /> 6. That the undersigned will submit to the Commission an <br /> annual preliminary report on use of funds within 90 days <br /> of the close of the fiscal year; <br /> 7. Unless otherwise required by the Commission, an audited <br /> report, certified by a Certified Public Accountant, will <br /> be submitted to the Commission within 180 days of the <br /> close of the fiscal year and that this report will be <br /> paid for out of the undersigned' s Prop. A funds; <br /> 8. That the description of the intended use of the funds, <br /> as submitted to the Commission, is an accurate depiction <br /> of the project to be implemented; <br />