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AGREEMENT <br />This Agreement is between the City of North Olmsted, an Ohio municipal corporation, <br />(hereinafter "City "), and the Greater Cleveland Regional Transit Authority, a regional <br />transit authority created and operating pursuant to Sections 306.30 through 306.54 and <br />306.70 and 307.71 of the Ohio Revised Code (hereinafter "Authority "). <br />RECITALS <br />(a) The various enactments under which the Authority was created <br />contemplated the transfer to the Authority of independent transportation <br />systems located in Cuyahoga County. <br />(b) The City has for 74 years operated a public transportation system <br />servicing the North Olmsted, Ohio area and certain routes designated by <br />the Authority. <br />(c) Since 1975, the City and the Authority have entered into public <br />transportation operating agreements pursuant to which the Authority <br />agreed to provide, and has provided financial reimbursement to the City, <br />thereby enabling the City to operate its public transit system, and, in <br />return, the City has provided valuable public transit services on behalf of <br />the Authority in areas of Cuyahoga County, Ohio. <br />(d) The term of the current Public Transportation Operating Agreement, as <br />extended, shall expire on March 31, 2005. <br />(e) The parties, after extensive negotiations, have agreed upon the terms <br />and conditions upon which the Authority will acquire the City's public <br />transportation system. <br />1 <br />