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,q <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 />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 I I I 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 Constitution. <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 />