R-14-07 RESOLUTION NO. R-14-07
RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A
MEMORANDUM OF AGREEMENT WITH THE NORTHERN VIRGINIA
TRANSPORTATION AUTHORITY REGARDING NVTA'S DISTRIBUTION OF
THE 30% FUNDS TO THE CITY OF FAIRFAX
WHEREAS, Section 15.2-4838.1 of the Code of Virginia states that 30 percent of the
revenues collected by the State pursuant to pursuant to §15.2-4839 shall be
distributed on a pro rata basis, with each locality's share being the total of such
fee and taxes received by the Authority that are generated or attributable to the
locality divided by the total of such fee and taxes received by the Authority;
and
WHEREAS, If a locality has not deposited into its special fund (i) revenues from the tax
collected under § 58.1-3221.3 pursuant to the maximum tax rate allowed under
that section or (ii) an amount, from sources other than moneys received from
the Authority, that is equivalent to the revenue that the locality would receive
if it was imposing the maximum tax authorized by §58.1-3221.3, then the
amount of revenue distributed to the locality shall be reduced by the difference
between the amount of revenue that the locality would receive if it was
imposing the maximum tax authorized by such section and the amount of
revenue deposited into its special fund; and
WHEREAS, if the City of Fairfax accepts its portion of the 30% funding, it must comply
with the terms outlined in the Memorandum of Agreement between the
Northern Virginia Transportation Authority and the City of Fairfax; and
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Fairfax,
Virginia that the City Manager is hereby authorized to enter into a
Memorandum of Agreement with the Northern Virginia Transportation
Authority regarding NVTA's distribution of the 30% funds to the City of
Fairfax.
ADOPTED this 28th day of January, 2014.
Mayor
ATTEST:
'i
City Clerk
The vote on the motion to approve was recorded as follows:
VOTE:
Councilman DeMarco Aye
Councilman Drummond Aye
Councilman Greenfield Aye
Councilman Meyer Aye
Councilmember Schmidt Aye
Councilman Stombres Aye