§ 2-2365. Permitted Use of Funds.

Moneys in the Trust Fund may be expended from time to time to pay for the development, construction, maintenance, and/or operation of the SMART Plan rapid transit corridor projects, including but not limited to:

(a)

expenses of development planning, professional fees, surveys and financial analysis;

(b)

initial construction and reconstruction costs of the stations, stops, terminals, or intermodal facilities; parking facilities; guideway and tracks; sitework and special conditions; signals and systems; utility relocation; and any other facility or special conditions necessary for the implementation of the SMART Plan rapid transit corridor projects;

(c)

the acquisition or lease of real property, rights-of-way, easements, and/or other property interests and/or improvements thereto, including but not limited to rail corridor easement payments for a SMART Plan rapid transit corridor project that uses a rail corridor owned by a third party;

(d)

the initial and replacement costs of the rolling stock;

(e)

the clearance and preparation of property for development;

(f)

relocation of site occupants in order to utilize property;

(g)

annual cost of operations for the SMART Plan rapid transit corridor projects;

(h)

annual cost of maintenance for the SMART Plan rapid transit corridor projects;

(i)

replacement capital costs and maintenance costs for the SMART Plan rapid transit corridor projects;

(j)

the repayment of principal and interest or any redemption premium for loans, advances, bonds, bond anticipation notes and any other form of indebtedness;

(k)

all expenses incidental to or connected with the issuance, sale, redemption, retirement or purchase of bonds, bond anticipation notes or other form of indebtedness, including funding of any reserve, redemption or other fund or account provided for in the ordinance or resolution authorizing such bonds, notes or other form of indebtedness;

(l)

lump sum and/or periodic payments under a private public partnership agreement or an agreement with another government entity for the development, construction, maintenance, and/or operation of the SMART Plan rapid transit corridor projects; and/or

(m)

cost of maintenance, not to exceed in total for that year 20 percent of that year's Tax Increment, for any portion of the Metrorail System in existence as of the effective date of this article so long as such maintenance is necessary in order to operate any portion of any of the SMART Plan rapid transit corridor projects.

Trust Fund moneys shall not be used for any form of transportation that includes charter service, sightseeing transportation, school buses, or transportation where the primary purpose of which is the movement of private passenger vehicles.

(Ord. No. 18-8, § 2, 2-6-18)