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~ T., <br /> COUNTY/CITY OTIA III REVENUE SHARING AGREEMENT <br /> BETWEEN: CITY OF EUGENE, a municipal corporation of the State of . <br /> Oregon (City) <br /> AND: LANE COUNTY, a political subdivision of the State of Oregon <br /> (County) . <br /> EFFECTIVE DATE: July 1, 2004 <br /> RECITALS . <br /> In 1987, County indicated its desire to share National Forest Timber Receipts with City to assist <br /> in providing improved road services inside City and entered into agreement with City for this <br /> purpose. <br /> <br /> j In 1995, due to declining National Forest Timber Receipts, the existing agreement was <br /> 'terminated and was subsequently restructured as the County/City Road Partnership. . <br /> The County has decided to continue the County/City Road Partnership under conditions set by <br /> the Board of County Commissioners. <br /> The 2003 Oregon Transportation Investment Act III (OTIA III) created additional funding for <br /> county and city road maintenance and .preservation. <br /> Lane County expects to receive approximately $600,000 in OTIA III maintenance and <br /> preservation funding in FY 03-04, and approximately $1,400,000 in FY 04-05 and FY 05-06. <br /> Lane County wishes to supplement current funding under the County City Road Partnership by <br /> further sharing these new OTIA III maintenance funds with the cities in Lane County. <br /> ~ The Lane County Board has conditioned this funding on participation by City in an independent <br /> audit of road maintenance services. <br /> NOW THEREFORE in consideration of the mutual covenants and commitments herein, <br /> CITY AGREES: <br /> 1. To expend all funds received from County under this agreement for the exclusive <br /> purposes allowed by Article. IX, Section 3(a) of the Oregon Cons#itution. <br /> 2. To submit to County by November 1 of each year, a detailed annual accounting of how <br /> the previous fiscal year's funds provided under this Agreement were used, in a format <br /> prescribed by County. . <br /> 3. To provide non-financial participation in an independent audit of road maintenance <br /> services to evaluate opportunities for efficiencies and consolidation performed by a <br /> consultant hired by the County. This audit is expected to be completed by December 31, <br /> 2004. <br /> <br />