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Except for projects in the Local Street Resurfacing, Repair, Improvement category, funds may <br /> be used as a local source of funds for projects included in the Statewide Transportation <br /> Improvement Program (STIP). The STIP is a Federal Highway Administration (FHWA) <br /> mandated expenditure plan based on the State's long range transportation plan. By participating <br /> in the STIP, the County has an opportunity to receive a portion of the State Department of <br /> Transportation's annual $120 million allocation of highway federal aid. By leveraging fuel <br /> taxes to its maximum, the County can finance more than $8 million in construction projects and <br /> services annually. Without federal aid, fuel taxes will not be able to support the County's <br /> highway maintenance and improvement program. <br /> A second draft of Resolution No. 192 was submitted clarifying the adoption date of the proposed <br /> program to be consistent with the lapsing of the current fuel tax program. <br /> Members of Your Committee expressed concerns with the proposed Special Fuel Tax Program <br /> termination date of June 30, 2001. An amendment to extend the termination date to June 30, <br /> 2008, was approved; thus, providing continuity into the next administration. <br /> Your Committee on Finance is in accord with the purpose and intent of Resolution No. 192, <br /> <br /> Draft 2, as amended to Draft 3, and recommends its adoption. <br /> <br /> Ikc <br /> ny., Nom w&E Ex Respectfully submitted <br /> CHUNG X <br /> LEITHEAD-TOOn x COMMITTEE ON FINANCE <br /> RAY X c~~q~-~+ /^i <br /> SAIVTAIVGELO X ~ jy~ , Z, ti ~ <br /> SMITH X 6 <br /> TYLER x AARON S.Y. CHUM CHAIR <br /> YACOxc X FC REPORT O. 180 <br /> ARAKAKI, EO.M. X ADOPTED: tgkj L 6 19~ <br /> <br />