(A) Revenue from the Transportation Infrastructure Tax will be used to fund the improvement of transportation systems for the benefit of the city. The tax shall be dedicated to the following purposes in the specified percentages of the revenues received from the Transportation Infrastructure Tax:
(1) Road Infrastructure Improvements Not less than 57%
(2) Trails and Bikeways 5%
(3) Transit 38%
The revenues dedicated to roads shall be used for the developed parts of the city for existing infrastructures including interstate highways.
(B) Reporting. Along with each year's proposed appropriation of Transportation Infrastructure Tax, the Administration shall provide the City Council with a report on the collections and expenditures of the Tax which shall include, at a minimum, the following information:
(1) An accounting of the total amount of tax collected life to date, as well as an accounting of the tax projected to be collected during the current fiscal year.
(2) A reconciliation of total tax collected life to date with actual appropriations life to date, by category.
(3) A listing of all projects, by category and the amount of that project paid for from Transportation Infrastructure Tax funds.
(Ord. 30-2009; Am. Ord. 2015-003; Am. Res. R-2019-052; Am. Ord. 2020-016)