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Section 3. <br /> <br />This agreement is made pursuant to Law for the following purposes: <br /> <br /> a. To establish a framework for the enactment by the Parties of a Tri- <br /> Valley Transportation Development Fee (TVTD Fee), a uniform .. <br /> regional fee on development within the Tri-Valley Development Area <br /> not legally precluded from the fee, to fund all or part of the necessary <br /> transportation improvements identified in the Plan. <br /> <br /> b. To help resolve regional traffic problems through implementation of <br /> the Plan and the TVTD Fee program. <br /> <br /> c. To establish funding goals for identified Transportation Improvement <br /> Proiects and to seek commitments regarding funding for the <br /> Transportation Improvement Projects. <br /> <br /> d. To establish mechanisms for collecting, managing and disbursing the <br /> TVTD Fee and to formalize institutional arrangements for the <br /> implementation of the Proiects to be constructed with fee revenues. <br /> <br /> Section 4. <br /> Duties of Treasurer <br /> <br />The Treasurer shall perform the follo~ving Duties: <br /> <br /> a. Keep a record of all TVTD Fees paid to the Treasurer by any Party; all <br /> TVTD Fees retained by any Paxty pursuant to Section 6(b); and all <br /> disbursements and expenditures made by the Treasurer in accordance <br /> with this Agreement; <br /> <br /> b. Remit all TVTD Fees, including interest earned thereon, to ACTA on <br /> a quarterly basis until ACTA has received $5,548,300 (less any <br /> contribution by Parties subject to reimbursement pursuant to Section <br /> 7.d), which is the total amount due to ACTA under all of the Parties' <br /> Local Match Agreements; <br /> <br /> Joint Exercise of Po~vers Agreement Page. 5 of 22 <br /> TVTD Fees fc;r Traffic Mitigation April 24 1998 <br /> <br /> <br />