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CONTRACT K-2021-57: A PUBLIC TRANSIT REVOLVING FUND AGREEMENT BY BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND THE OKLAHOMA DEPARTMENT OF TRANSPORTATION (ODOT) DISTRIBUTING A MAXIMUM AMOUNT OF FUNDS IN AN AMOUNT NOT-TO-EXCEED $134,285 IN ONE (1) BILLING PAYABLE ON OR AFTER NOVEMBER 1, 2020, SUCH FUNDS TO BE USED FOR ESTABLISHING, EXPANDING, IMPROVING, AND MAINTAINING THE CITY OF NORMAN'S URBAN PUBLIC MASS TRANSPORTATION SERVICES AND BUDGET APPROPRIATION.
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BACKGROUND: The City of Norman has been designated by the Federal Transit Administration (FTA) as eligible to receive federal funds to be used for public transportation services. As a result of this designation by the FTA, the City is also eligible to receive disbursement of funds from the Oklahoma Department of Transportation (ODOT) Public Transit Revolving Fund to be used to establish, expand, improve, and maintain its public transportation system.
DISCUSSION: On May 22, 2019, the Governor of Oklahoma designated the City to be the direct recipient of federal funds to be used for the provision of public transportation services effective upon the date the FTA formally approves the City eligible to receive such federal funds. On June 20, 2019, the FTA formally designated the City to be the direct recipient of such federal public transportation funds.
69 O.S. ? 4301 creates in the State of Oklahoma Treasury a revolving fund called the "Public Transit Revolving Fund" for ODOT to be used for the purpose of establishing, expanding, improving, and maintaining rural and urban public transportation services. Eligible entities to apply for disbursement of such funds are defined as those entities receiving federal financial assistance through the FTA's Block Grant for Urbanized Areas and Formula Grant Program for Areas other than Urbanized Areas under 49 U.S.C. ?1607a and ?1614, and other public mass transportation programs provided by entities, municipalities, and community action programs which have su...
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