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Agency Name <br /> Master Agreement No. 64SantaAnaMA <br /> STATE OF CALIFORNIA <br /> DEPARTMENT OF TRANSPORTATION <br /> Effective Date of this Agreement: October 15, 2024 <br /> Termination Date of this Agreement: October 14, 2034 <br /> Recipient: City of Santa Ana <br /> Application Funding: The Greenhouse Gas Reduction Fund, Senate <br /> Bill 1 Fund, and General Fund are the <br /> applicable funding sources covered by this <br /> Agreement and will be identified in each <br /> specific Program Supplement, adopting the <br /> terms of this Agreement. <br /> RECITALS <br /> 1 . WHEREAS, The Global Warming Solutions Act of 2006, codified at Cal. <br /> Health & Safety C. § 38500 et seq. (the "Act") (Assembly Bill [AB] 32, Nunez, <br /> Chapter 488) created a comprehensive program to reduce greenhouse gas <br /> emissions in California. The Act required California to reduce greenhouse gases <br /> to 1990 levels by 2020, and to maintain and continue reductions beyond 2020. In <br /> March 2012, Governor Brown signed Executive Order B-16-2012 affirming a long- <br /> range climate goal for California to reduce greenhouse gases from the <br /> transportation sector to 80 percent below 1990 levels by 2050. <br /> 2. WHEREAS, the Cap-and-Trade Program is a key element in California's <br /> climate plan. It creates a limit on the emissions from sources responsible for 85 <br /> percent of California's greenhouse gas emissions, establishes the price signal <br /> needed to drive long-term investment in cleaner fuels and more efficient use of <br /> energy, and gives covered entities flexibility to implement the lowest-cost options <br /> to reduce greenhouse gas emissions. <br /> 3. WHEREAS, in 2012, the Legislature passed and Governor Brown signed into <br /> law three bills, AB 1532 (Perez, Chapter 807, Statutes of 2012), Senate Bill (SB) 535 <br /> (De Leon, Chapter 830, Statutes of 2012), and SB 1018 (Budget and Fiscal Review <br /> Committee, Chapter 39, Statutes of 2012), that established the Greenhouse Gas <br /> Reduction Fund (GGRF) to receive proceeds from the distribution of allowances <br /> via auction and provided the framework for how those auction proceeds will be <br /> appropriated and expended. These statutes require that expenditures from the <br /> GGRF be used to facilitate the achievement of greenhouse gas emission <br /> reductions and further the purposes of the Act. <br /> Revised as of 9/12/2024 Page 4 <br />