AGENDA
FINANCE
& BUDGET COMMITTEE
Thursday,
November 21, 2002 - 9:30 A.M.
Call
to order:
Directors:
Paul
Hudson, Chair
Frank
Roberts, Vice Chair
John
Fasana
Don
Knabe
Allison
Yoh
Doug
Failing, Ex Officio
23. RECEIVE report of the
Chief Financial Officer.
24.
RECEIVE quarterly update on Capital Plan.
25.
AWARD five-year fixed rate contracts to:
A.
Banc of America Capital Management, LLC
PS0252101279A
B.
LM Capital Group, LLC PS0252101279B
C.
Pacific Investment Management Co., LLC
PS0252101279C
for
investment management services effective January 1, 2003 for an amount
not to exceed $4,000,000.
26.
AUTHORIZE execution of strategies for locking in refunding savings by
adopting resolutions to:
A.
price and deliver $560 million of the Prop A
2003-A refunding bonds, including approval of documents on file with the
Board Secretary, using a forward delivery agreement in a negotiated bond sale
with an underwriting syndicate consisting of UBS PaineWebber as book-running
co-senior manager and Salomon Smith Barney as co-senior manager, with
co-managers Chapman & Co., E. J. De la Rosa & Co., M. R. Beal & Co.,
Ramirez & Co., and Siebert Brandford Shank & Co., LLC, to achieve a goal
of 20% minority participation;
B.
enter into a hedging agreement utilizing a rate lock product to mitigate
interest rate risk; and
C.
enter into a hedging agreement utilizing an interest rate swap to
mitigate interest rate risk.
Adoption of these resolutions does not commit the Metro to executing any of the
transactions.
(Requires separate, simple majority Board vote)
27.
HUDSON MOTION – that the Finance & Budget Committee reaffirm the committee
summary/description as accurately reflecting the scope of responsibility of
the Finance & Budget Committee.
Consideration
of items not on the posted agenda, including: items to be presented and (if
requested) referred to staff; items to be placed on the agenda for action at a
future meeting of the Committee or Board; and/or items requiring immediate
action because of an emergency situation or where the need to take immediate
action came to the attention of the Committee subsequent to the posting of the
agenda.
COMMENTS
FROM THE PUBLIC ON ITEMS OF PUBLIC INTEREST WITHIN COMMITTEE’S SUBJECT MATTER
JURISDICTION
ADJOURNMENT