WHEREAS, in October 2004 the Province of Ontario announced dedicating provincial gas tax funds under the Dedicated Gas Tax Funds for Public Transportation Program in order to increase public transportation ridership;

AND WHEREAS the Province is expected to provide 2.0 cents per litre from October 2008 to September 2009 to the Dedicated Gas Tax Funds for Public Transportation Program;

AND WHEREAS the Province will be allocating the gas tax revenues based on 70 per cent transit ridership and 30 per cent municipal population;

AND WHEREAS the Regional Municipality of Peel is estimated to receive $732,175 from October 2008 to September 2009 under the program for the TransHelp service;

AND WHEREAS the Province of Ontario will release an initial payment of $366,088 to the Regional Municipality of Peel upon receipt of the signed Letter of Agreement and related authorizing by-law, and will provide the remaining funding on a quarterly basis beginning in January, 2009;

AND WHEREAS the Regional Municipality of Peel is required to execute a Letter of Agreement with Her Majesty the Queen in right of the Province of Ontario, as represented by the Minister of Transportation for the Province of Ontario;

AND WHEREAS the Letter of Agreement provides that gas tax funds, including all interest earned, be kept in a dedicated gas tax funds reserve account and remain the property of the Ministry of Transportation pending payment of costs for eligible public transportation expenditures;

AND WHEREAS the Regional Municipality of Peel is required to adhere to the reporting and accountability measures set out in the Letter of Agreement and the 2008/2009 Guidelines and Requirements, including demonstrating that these payments are current prior to the release of the Dedicated Gas Tax Funds;

NOW THEREFORE be it resolved that, the Council of the Regional Municipality of Peel hereby authorizes the Regional Chair and the Treasurer and Commissioner of Finance to execute the Dedicated Gas Tax Funds for Public Transportation Program Letter of Agreement as in Schedule A attached hereto.

READ THREE TIMES AND PASSED IN OPEN COUNCIL this 14^th day of May, 2009

Schedule A to By-law 44-2009 (pdf)