Title
Adopt a Resolution to:
a. Approve a Master Agreement between the Transportation Agency for Monterey County and the County of Monterey for Regional Surface Transportation Program Exchange Funds for County projects; and
b. Authorize the Director of Public Works, or his designee, to act as the agent for the County to execute documents to secure these funds from Transportation Agency for Monterey County.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Approve a Master Agreement between the Transportation Agency for Monterey County and the County of Monterey for Regional Surface Transportation Program Exchange Funds for County projects; and
b. Authorize the Director of Public Works, or his designee, to act as the agent for the County to execute documents to secure these funds from Transportation Agency for Monterey County.
SUMMARY:
The attached Master Agreement (Agreement) between the Transportation Agency for Monterey County (TAMC) and the County of Monterey (County) details state requirements for Regional Surface Transportation Program (RSTP) funds and other fiscal provisions required to comply with State and Federal regulations. Said Agreement will need to be fully executed along with a list of proposed projects to receive RSTP funds. RSTP funds are reimbursable and are subject to audit by an independent certified public accountant and by the State of California. If approved, the Master Agreement will be updated every three years.
DISCUSSION:
The RSTP was established by the California State Statute utilizing Surface Transportation Program funds that are identified in section 133 of Title 23 of the United States Code. As authorized by section 182.6 (g) of the Streets and Highways Code, TAMC has entered into an agreement with the State of California, to assign a portion of its annual RSTP apportionment to Caltrans in exchange for State funds. These exchanged funds are allocated to loca...
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