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HomeMy WebLinkAbout2006-34 - Measure M FundsRESOLUTION NO. 2006 - 34 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH, STATE OF CALIFORNIA, APPROVING THE EXPENDITURE PLAN FOR THE REVENUES EXPECTED TO BE DERIVED FROM THE PROPOSED EXTENSION OF MEASURE M WHEREAS, the citizens of Orange County approved passage of Measure M in November 1990 authorizing the Orange County Transportation Authority to administer a one -half of one percent transactions and use tax for transportation improvements, applicable in the incorporated and unincorporated territory of the County of Orange; and WHEREAS, Measure M has provided funding for numerous transportation projects, including freeways, local roads, major streets, interchanges, the Metrolink commuter train system, fare stabilization, traffic signals, and more; and WHEREAS, the imposition of the one -half of one percent transactions and use tax is set to expire in 2011, and WHEREAS, The League of California Cities, Orange County Division created a Super Committee of elected official and staff representatives from each city that worked to coordinate city input to the Investment Plan and unanimously recommended that the Investment Plan be placed before the voters of Orange County on November 7, 2006, ballot or as soon as is practical thereafter, and WHEREAS, if approved by the voters, Measure M would authorize the collection of a one -half of one percent sales tax for a 30 -year period from 2011 to 2041, generating an anticipated total of $11 billion for local transportation projects, and WHEREAS, revenues raised from the continuation of Measure M would remain in Orange County and could not be borrowed by the state or federal government, and WHEREAS, Measure M would provide a long -term funding source to help fight traffic congestion; improve local streets, major roads and highways, expand transit services and provide transportation- related water quality improvements, and WHEREAS, the Transportation Investment Plan would have significant local benefits to the City of Newport Beach as it would allow for the widening of streets, the expansion of intersections, the coordination of signals, and the development of a community bus service for seniors and city community groups, and WHEREAS, the Transportation Investment Plan requires voter safeguards such as annual independent audits, public review of the Plan every 10 years, annual report to taxpayers and penalties for misspending funds, and WHEREAS, Public Utilities Code section 180206 (b) requires that the Measure M Investment Plan be approved by the County Board of Supervisors and a majority of the cities representing a majority of the population residing in the incorporated areas of the County. NOW, THEREFORE, be it resolved by the City Council of the City of Newport Beach, State of California, hereby approves the Measure M transportation Investment Plan for consideration by the voters of Orange County in November 2006. BE IT FURTHER RESOLVED, that the City Clerk is hereby authorized and directed to transmit to the Orange County Transportation Authority a certified copy of this Resolution. Adopted this 9 day of May, 2006. E Mayor STATE OF CALIFORNIA } COUNTY OF ORANGE } as. CITY OF NEWPORT BEACH } I, LaVonne M. Harkless, City Clerk of the City of Newport Beach, California, do hereby certify that the whole number of members of the City Council is seven; that the foregoing resolution, being Resolution No. 2006 -34 was duly and regularly introduced before and adopted by the City Council of said City at a regular meeting of said Council, duly and regularly held on the 9th day of May 2006, and that the same was so passed and adopted by the following vote, to wit: Ayes: Curry, Selich, Rosansky, Ridgeway, Daigle, Mayor Webb Noes: Nichols Absent: None Abstain: None IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of said City this 10th day of May 2006. (Seal)