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3 <br /> authorizing Smart Card project funding assistance from SOUND TRANSIT to <br /> EVERETT TRANSIT and providing for conditions of funding assistance; and <br /> E. Everett City Council authorized on April 23, 2003 EVERETT TRANSIT's <br /> re-entry in the regional smart card project and acceptance of SOUND TRANSIT's <br /> funding assistance and conditions of funding; and <br /> F. SOUND TRANSIT and EVERETT TRANSIT and other agency partners <br /> have participated in the Regional Pass and Fare Reconciliation Program <br /> Agreement ("Puget Pass Agreement") as an interim step to development of an <br /> automated regional fare collection and revenue distribution system using "smart <br /> card" technology (RFCS). This Agreement states that "regional fare coordination <br /> will promote the use of public transportation throughout the region by both their <br /> individual and collective customers due to increased ease and convenience"; <br /> G. SOUND TRANSIT and EVERETT TRANSIT representatives on a joint <br /> board, along with other agency partners, direct the Smart Card Project and <br /> application of the program funds; and. <br /> H. SOUND TRANSIT and EVERETT TRANSIT support the Sound Move <br /> Policy Goal of a "one-ticket ride" for seamless fare payment and public transit <br /> access throughout the region. Continued participation of EVERETT TRANSIT in <br /> the Regional Fare Coordination System Project (RFCS or Smart Card Project) is <br /> desirable to support and achieve a regional fare structure; and <br /> I. SOUND TRANSIT's willingness and commitment to provide funding <br /> assistance to EVERETT TRANSIT to assure its continued participation in the <br /> Smart Card Project is conditioned upon renegotiation of the Puget Pass <br /> Agreement by the partner agencies and phasing out of intersystem transfer <br /> subsidies by SOUND TRANSIT from the Fare Integration Fund (FIF) over the <br /> course of the Smart Card Project. <br /> NOW, THEREFORE, in consideration of the covenants, assurances and mutual <br /> promises herein the Parties agree as follows: <br /> 2. PURPOSE <br /> The purpose of this Agreement is to provide for SOUND TRANSIT's funding <br /> assistance to support EVERETT TRANSIT's continued participation in the design <br /> and implementation of the Smart Card Project and to establish the conditions of <br /> funding. <br /> Fundng Assist Agmt ET ST March 06.doc 6 <br /> 2 <br />