Drafter
Clerk 06/05/2015
Title
AN ORDINANCE pertaining to the transit budget; amending the 2015/2016 Biennium Budget Ordinance, Ordinance 17941, Section 113, as amended; and declaring an emergency.
Body
STATEMENT OF FACTS:
1. The Central Puget Sound Regional Transit Authority ("Sound Transit") was formed in 1993. In 1996, voters within the district authorized the imposition of sales and motor vehicle excise taxes for the construction and operation of a regional transit system comprising express buses services, commuter rail services and light rail services.
2. The King County council, in Motion 10448, passed April 27, 1998, authorized the executive to enter into a memorandum of understanding establishing a cooperative relationship between Sound Transit and King County.
3. In Ordinance 14661, the council authorized the executive to enter into an interlocal agreement between King County and Sound Transit, by which Metro Transit operates and maintains Sound Transit's Link Light Rail system.
4. King County also provides Sound Transit Express bus service in King County under an agreement with Sound Transit. That contract is about to expire.
5. Sound Transit and the executive have been in negotiations to enter into a new agreement by which Metro Transit will provide Sound Transit Express bus operation and maintenance services for up to another four and one-half years and which will require Metro Transit appropriations in excess of $40 million per year.
6. Motion 14110 sets forth King County's financial policies to provide fiduciary oversight and guidance on developing operating budgets, capital asset management, expenditure management, revenue generation and collection and the use of fund balance.
7. Ordinance 17225 establishes the transit division fund management policies, which are consistent with the adopted Strategic Plan for Public Transportation 2011-2021 and guide the expenditure and investment of public transportation resources.
8. ...

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