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Finance & Budget Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, June 15, 2011 2:30 p.m.

Agenda

Call to Order

Directors

Michael Antonovich, Chair
Ara Najarian, Vice Chair
Diane DuBois
Gloria Molina
Pam O'Connor
Michael Miles, non-voting member

Officers

Arthur T. Leahy, Chief Executive Officer
Michele Jackson, Board Secretary
Karen Gorman, Ethics Officer
Karen Gorman, Acting Inspector General
County Counsel, General Counsel

  1. RECEIVE report from the Chief Financial Services Officer. [HANDOUT]
  2. CONSIDER: [HANDOUT]
    1. approving the Southern California Regional Rail Authority (SCRRA) FY 2011-12 Budget, and Los Angeles County Metropolitan Transportation Authority (MTA)'s Annual Work Program contribution totaling $51,718,314, consisting of $40,063,700 for Operations; $686,890 for Operations Contingency Fund; $8,000,000 for Rehabilitation and Renovation; $791,000 for New Capital; $2,176,724 for Right of Way (ROW) Security; and approve the programming of funds to SCRRA as follows:
      1. $49,106,824 in new Proposition C 10% funding for Operations, Rehabilitation and Renovation, and ROW Security;
      2. $591,000 in new Measure R 3% funding for the Van Nuys North Platform and Raymer-Bernson projects; and,
      3. $2,020,490 in Proposition C 10% funding reprogrammed from FY 2009-10 SCRRA operating surpluses, held by SCRRA on behalf of MTA.
    2. approving the following action relating to the Lang Siding project:
      1. Reprogram $200,000 in FY 2009-10 Proposition C 10% Metrolink operating surplus funds, held by SCRRA on behalf of MTA, to complete the Lang Siding Project.
    3. approving for FY 2011-12, a revised Transfers to Other Operators payment rate of $0.90 per boarding to MTA.
    4. authorizing the Chief Executive Officer or his designee to negotiate and execute all necessary agreements between MTA and the SCRRA for the approved funding.
  3. ADOPT a resolution authorizing the MTA to form a California nonprofit mutual benefit corporation that will serve as the conduit borrower of a $546 million Transportation Infrastructure Finance and Innovation Act loan once the loan is applied for and approved by the USDOT and by the MTA Board.
  4. AUTHORIZE the Chief Executive Officer to negotiate and award excess liability insurance policieswith up to $250 million in limits at a cost not to exceed $4.1 million for the 12-month period effective August 1, 2011 through July 31, 2012.
  5. APPROVE the use of a negotiated bond sale to refund a portion of the Prop A 2001-A and B Series bonds.
    (ALSO ON EXECUTIVE MANAGEMENT AND AUDIT COMMITTEE)
  6. RECEIVE AND FILE the Antelope Valley Line Infrastructure Improvement Strategic Plan update for June 2011.
    (ALSO ON PLANNING AND PROGRAMMING COMMITTEE)
  7. RECEIVE report of the Chief Executive Officer.

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

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