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Finance, Budget, and Audit Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, November 16, 2011 2:30 p.m.

Agenda

Call to Order

Directors:
Mel Wilson, Chair
Ara Najarian, Vice Chair
John Fasana
Gloria Molina
Mark Ridley-Thomas
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

17. RECEIVE report from the Chief Financial Services Officer.

18. AUTHORIZE the Chief Executive Officer to execute a five-year lease agreement with Downtown Properties for the rental of approximately 12,912 square feet of office space in an office building located at 818 West 7th Street, Los Angeles, at an estimated rental cost of $1,742,580.70 over the term of the lease.

19. CONSIDER:

A. adopting a resolution authorizing the replacement of the expiring liquidity facility for the Prop C 2009-A bonds,

B. authorizing the Chief Executive Officer to finalize negotiations with the proposing banks and enter into any combination of agreements as provided for in the resolution for three year terms or less; and

C. authorizing the Chief Executive Officer to negotiate with each successively ranked proposer from the lists if unable to reach agreement with one or more of the recommended proposers. (REQUIRES SEPARATE, SIMPLE MAJORITY BOARD VOTE)

20. RECEIVE AND FILE the first quarter report of Management Audit Services for the period ending September 30, 2011.

21. 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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