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RESOLUTION NO. 2005 - 54 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT <br />BEACH CERTIFYING THAT NEWPORT BEACH HAS THE RESOURCES <br />TO FUND THE PROJECTS SUBMITTED FOR INCLUSION IN THE FY <br />2005 - 2006 - 2010 -2011 TRANSPORTATION IMPROVEMENT PROGRAM <br />AND AFFIRMING ITS COMMITMENT TO IMPLEMENT ALL OF THE <br />PROJECTS SUBMITTED IN THE PROGRAM <br />WHEREAS, the City of Newport Beach desires to include the submitted <br />projects (Attachment A) in the Orange County Transportation Authority's (OCTA) <br />Regional Transportation Improvement Program; and <br />WHEREAS, the City of Newport Beach warrants that full funding is <br />committed and available for projects submitted for programming in the first three years <br />(FY 2005 -06, 2006 -07, 2007 -08) of the Regional Transportation Improvement Program <br />(RTIP); and that the City of Newport Beach accepts responsibility for full funding of said <br />projects and warrants that no additional funding allocations are required of OCTA for City <br />of Newport Beach to fully implement said projects therefore committing that the first three <br />years of the RTIP are financially constrained; and <br />WHEREAS, projects programmed in years 2008 -09 thru 2010 -11 are <br />projects expected to receive future funding through anticipated revenues, therefore all <br />projects submitted for inclusion in the 2006 RTIP are financially constrained; and <br />WHEREAS, OCTA as the agency responsible for short-range capital and <br />service planning and programming for the Orange County area, requires an approved <br />Resolution from the governing body of the Lead Agency for all projects included in the <br />Transportation Improvement Program; and <br />WHEREAS, OCTA also requires that the Lead Agency include a financial <br />plan that demonstrates how the projects submitted for inclusion in the RTIP can be <br />implemented; and <br />