CSS 2020-02-24 Item 1A - Agreement - King County Tax Levy Funds for Parks and Recreation Capital Projects

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King County Parks Property Tax Levy 2020-2025 Agreement 2. Term of Aereement. The term of this Agreement (the "Term") shall be for a period commencing upon signature by both parties (the "Commencement Date"), and expiring on December 31, 2025 (the "Termination Date"). Receipt of County Levy Proceeds. A. General Distribution. Each year the County shall distribute the CITY's Share to the CITY as authorized by Ordinance 18890, subject to County Council appropriation. B. Receipt and Distribution of Levy Proceeds. I. Payment Schedule. Beginning in 2020 and through 2025, the County shall transfer the CITY's Share to the CITY on a semi-annual basis, generally in the months of May and November. The annual amounts transferred shall never exceed the CITY's proportionate share of the CITY Proceeds actually collected and appropriated by King County. 2. Administrative Fee. The Parties agree that the County has authority to deduct a portion from City Proceeds for eligible expenditures related to the administration of the distribution of County Levy Proceeds, consistent with Ordinance 18890. 4. Use of Countv Levy Proceeds. The CITY shall only use the transferred CITY'S Share for its CITY Projects. On or before May 31" of each year throughout the Term of this Agreement, the CITY shall provide the County with a copy of the Annual Report and provide any further documentation showing that the CITY'S Share was expended on CITY Projects. The CITY shall maintain financial records to account separately for the CITY'S Share. Representations and Warranties. The CITY represents and warrants that all of the CITY'S Share received by the CITY shall be used only for specific CITY Projects as defined in this Agreement and that such funds shall not be used to supplant Existing Funds. The CITY represents and warrants that all CITY Projects shall be consistent with the requirements in King County Ordinance 18890. The CITY represents and warrants that in addition to the CITY'S Share, the CITY shall annually expend on CITY Projects an amount equal to the CITY's Existing Funds. Title to Improvements. All appurtenances, fixtures, improvements, equipment, additions and other property attached to or installed in the CITY Park System during the Term shall be and remain the properties of CITY and shall not be deemed property of the County under any circumstances. Notices. All notices required to be given hereunder shall be in writing and either delivered personally or sent by certified mail to the appropriate address listed below, or at such other address as shall be provided by written notice. Notice shall be deemed communicated upon actual receipt. For convenience of the parties, copies of notices may also be given be other means; however, neither party may give official or binding notice except by personal delivery or by certified mail. Page 3 of 7 0.