Sec. 35-70. Restricted uses of the tax/expenditure plan.
a.Proceeds from this tax shall be deposited into the City treasury in a special fund entitled the “Street Infrastructure Rehabilitation Transactions and Use Tax Fund.” Monies deposited into this fund, together with any interest that accrues thereon, shall be used exclusively for the rehabilitation, repair, and improvement of the City’s streets, sidewalks, and storm drains.
b.The expenditure plan required by Revenue and Taxation Code Section 7285.91 for the revenue of tax approved by the ordinance codified in this Article is set forth below and is based on an estimated $8 million in annual revenue expected to be received from the tax.
|
INFRASTRUCTURE ASSET TYPE |
IMPROVEMENTS |
COSTS |
|---|---|---|
|
Streets |
Improve and repair the overall condition of streets |
$17,200,000 |
|
Senior and Disabled Access and Safety Improvements (“ADA”) |
Build curb ramps and safety improvement upgrades to 57 signaled intersections to assist senior citizens, disabled persons, and visually impaired persons |
$10,080,000 |
|
Sidewalks |
Improve and repair over 17 miles of sidewalks |
$2,000,000 |
|
Storm Drain System |
Rehabilitate pipes; remove silt from retention pools; rehabilitate catch basins, headwalls |
$2,720,000 |
|
Total: $32 Million |
The expenditure plan may be amended from time to time by a vote of the City Council, so long as the funds are used for the purposes approved by the electors in approving the tax described herein. (Ord. 3504 § 2, 2014)