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WHEREAS, Everett Transit has utilized its undesignated cash reserve in the <br /> amount of $125,000 per month since the end of 2000 to avoid further fixed route <br /> service decreases and to help fund additional paratransit service increases; and <br /> WHEREAS, the city of Everett has determined that the existing sales and use <br /> tax of 0.3% is insufficient to maintain current levels of service; and <br /> WHEREAS, Everett Transit's undesignated cash reserve fund will be depleted by <br /> approximately June 2005; and <br /> WHEREAS, passengers fares pay for approximately 13% of the transit <br /> operations; and <br /> WHEREAS, passenger fare revenue is an important revenue component to <br /> support the provision of public transit service; and <br /> WHEREAS, fares and fare policy need to be periodically evaluated and adjusted <br /> to help generate revenue in order to support public transit service levels; and <br /> WHEREAS, Everett Transit has determined that at the current level of sales tax <br /> funding at three-tenths of one percent (0.3%), fixed route service levels will <br /> need to be reduced an additional nine percent (9%) along with paratransit <br /> service levels in 2005; and <br /> WHEREAS, fare adjustments are not sufficient to avoid service reductions of 9% <br /> in 2005; and <br /> WHEREAS, in order to support the cost of maintaining the current level of <br /> service; restoring service eliminated during the last 9 years and providing funds <br /> to expand service to serve the needs of an additional increase in city of Everett <br /> population of 24% and employment increase of 68% during the next 20 years, it <br /> is necessary that the public transit sales and tax be raised from 0.3% to 0.6%; <br /> and <br /> WHEREAS, the citizens of the city of Everett are entitled to exercise citizen <br /> control regarding the use of sales and use tax revenue for public transit service; <br /> and <br /> WHEREAS, pursuant to RCW 82.14.045 the question of whether or not to <br /> increase such sales and use tax must be submitted to the qualified electors of <br /> the city of Everett for their approval or rejection; <br /> Now, Therefore, be it Resolved by the Everett City Council as follows: <br /> 2 <br />