RESOLUTION NO. 2023-XX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA, CALIFORNIA, ADOPTING THE MEASURE M2 EXPENDITURE REPORT FOR THE CITY OF COSTA MESA FOR THE FISCAL YEAR ENDING JUNE 30, 2023 THE CITY COUNCIL OF THE CITY OF COSTA MESA HEREBY FINDS, DETERMINES, AND DECLARES AS FOLLOWS:
WHEREAS, local jurisdictions are required to meet eligibility requirements and submit eligibility verification packages to the Orange County Transportation Authority (OCTA) in order to remain eligible to receive M2 funds; and WHEREAS, local jurisdictions are required to adopt an annual M2 Expenditure Report as part of one of the eligibility requirements; and WHEREAS, local jurisdictions are required to account for Net Revenues, developer/traffic impact fees, and funds expended by the local jurisdiction in the M2 Expenditure Report that satisfy the Maintenance of Effort requirements; and WHEREAS, the M2 Expenditure Report must include all Net Revenue fund balances, interest earned and expenditures identified by type and program or project; and WHEREAS, the M2 Expenditure Report must be adopted and submitted to the OCTA each year within six (6) months of the end of the local jurisdiction’s fiscal year to be eligible to receive Net Revenues as part of M2.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COSTA MESA AS FOLLOWS:
Section 1. The City Council of the City of Costa Mesa does hereby inform the OCTA that:
The M2 Expenditure Report is in conformance with the template provided in the Measure M2 Eligibility Guidelines and accounts for Net Revenues including interest earned, expenditures during the fiscal year, and balances at the end of the fiscal year.
The M2 Expenditure Report is hereby adopted by the City of Costa Mesa.
The Costa Mesa Finance Director is hereby authorized to sign and submit the Measure M2 Expenditure Report to OCTA for the fiscal year ending June 30, 2023.
Section 2. The City Clerk shall certify to the passage and adoption of this Resolution and shall enter it into the book of original resolutions.
PASSED AND ADOPTED this 5th day of December, 2023.
____________________________
John Stephens, Mayor
ATTEST: APPROVED AS TO FORM:
____________________________ ____________________________ Brenda Green, City Clerk Kimberly Hall Barlow, City Attorney Resolution No. 2023-xx Page 2 of 3
Resolution No. 2023-XX Page 3 of 3
Attachment 1