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• <br />• <br />FM NO. 404692-1-84-01 <br />CONTRACT NO. <br />EXHIBIT "C" <br />(For State Block Grant Only) <br />This exhibit forms an integral part of that certain Joint Participation Agreement <br />between the State of Florida, Department of Transportation and the INDIAN RIVER <br />COUNTY BOARD OF COUNTY COMMISSIONERS Dated <br />REF: Section 341.052 F.S. <br />The Department shall provide block grant funds for eligible capital and operating costs of public bus <br />transit and local public fixed guideway projects Eligibility of this Agency to receive grant funding is <br />provided in Sec. 341.052(1) F.S , and Section 5307 and 5311 of the Federal Transit Act 49 U.S C. <br />5307, and 49 U S C 5311 respectively. <br />Eligible transit capital costs means any costs that would be defined as capital costs by the <br />Federal Transit Administration. <br />Eligible transit operating costs are the total administrative, management, and operation costs <br />directly incident to the provision of public bus transit services, excluding any depreciation or <br />amortization of capital assets. <br />B lock grant funds shall not exceed local revenue during the term of this agreement. <br />(Local revenue is defined as the sum of money received from local government entities to <br />assist in paying transit operation costs, including tax funds, and revenue earned from fare <br />box receipts, charter service, contract service, express service and non - transportation <br />activities.) <br />B lock grant funds shall not supplant local tax revenues made available for operations in the year <br />immediately preceding this agreement. <br />State participation in eligible public transit operating costs may not exceed fifty (50) percent of such <br />costs or an amount equal to the total revenue, excluding farebox, charter, and advertising revenue <br />and federal funds, received by the provider for operating costs,. whichever amount is Tess. <br />The Agency shall require the independent auditor, retained to perform the audit as required by the <br />S ingle Audit Act of 1984, to specifically test and certify that these limitations (...funds shall not <br />exceed local revenue...funds shall not be expended for depreciation or amortization of capital <br />