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c <br /> Coe <br /> ASSURANCES AND UNDERSTANDINGS REGARDING <br /> RECEIPT AND USE OF PROPOSITION A and PROPOSITION C FUNDS <br /> The undersigned, in conjunction with the receipt of funds derived from the one-half cent sales tax <br /> imposed by Ordinance No. 16 (Proposition A)and the one-half cent sales tax imposed by the Proposition <br /> C Ordinance of the Los Angeles County Metropolitan Transportation Authority(Metro), and as required <br /> by Metro's Local Return Program Guidelines, hereby provides the following assurances and <br /> understandings. <br /> A. The undersigned hereby assures Metro: <br /> 1. That the Proposition A and Proposition C funds will not be substituted for <br /> property tax funds which are currently funding existing public transportation <br /> programs; <br /> 2. That Proposition A and Proposition C funds will be used for public transit <br /> purposes as defined in Metro's Local Return Program Guidelines; <br /> 3. That the undersigned will submit to Metro a description of the use of funds: <br /> a. For service expansion or new service: at least 60 days before encumbrance <br /> of funds; <br /> b. For other projects: at least 30 days before encumbrance of funds; <br /> c. Annually, by August 1St of each year, an update of previously approved <br /> projects; <br /> d. Annually, by October 15th of each year, an update of the prior year's <br /> expenditures; <br /> 4. Any proposed use of funds will not duplicate or compete with any existing <br /> publicly-funded transit or paratransit service; <br /> 5. That Proposition A and Proposition C funds will be expended by the date that is <br /> three years from the last day of the fiscal year in which funds were originally <br /> allocated; <br /> 6. Unless otherwise required by Metro, an audit certified by a Certified Public <br /> Accountant, will be conducted by Metro within 180 days of the close of the fiscal <br /> year; <br /> 7. That the description of the intended use of the funds, as submitted to Metro, is an <br /> accurate depiction of the project to be implemented; <br /> 8. That a 25 percent change in project scope or financing for those projects defined <br /> in the Guidelines will be submitted to Metro at least 60 days before that change in <br /> scope is implemented; <br /> R6876-0001\1288601v1.doc <br />