HomeMy WebLinkAboutContracts & Agreements_16A-1986_CCv0001.pdf AGREEMENT FOR ASSIGNMENT OF
FEDERAL AID ULBAN (FAU) APPORTIONMENTS
(from an urbarilurbanized area of less than 200,000 Population,nonattributable)
This agreement is made and entered into this day of 198 6. by and
between the Santa Clara County Traffic Authority;hereinafter referred to as"Authority"and the
City ofRedlandshereinafter refered to as City PP
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WITNESSETH:
WHEREAS, City wishes to assign 815 ,877 of its allocation of FAU
funds to Authority in exchange for eighty percent(80176)of that amount in funds that may be used for
any transportation-related purpose-,
WHEREAS,the Authority wishes to accept said assignment for use I on a transportation project which
qualifies for FAU funding-,
I
WHEREAS,the FAU funds are discounted to Authority because of expenditure restrictions and
increased administrative costs associated with using said funds;
WHEREAS,apportioned nonattributable FAU funds may be transferred between local agencies with
the approval of the appropriate local officials and, if applicable' the appropriate goveirrung bodies
responsible for apportioning the funds within an urbanized area;
WHEREAS,Authority and City consider this assignment and exchange as fair
and equitable treatment under the FAU program;
Now, therefore,it is mutually agreed as follows:
city agrees to transfer$-815 8 7 7 of its FAU fund
apportionment to Authority;
2.Authority agrees to transfer$ 652 ,701 to City on
notification by Caltrans that the apportionment is available for authority's use.and
3. City agrees to use the funds received from Authority for
transportation-related purposes.
Authority Agency
G. L-RUSSELL.Chief
Digision of Facilities Construction Carole Beswick
California Department of Transportation
for Authority
Mayor, City of Redlands