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Finance & Budget Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, September 15, 2010 2:30 p.m.

Agenda

  1. RECEIVE report from the Chief Financial Services Officer. (Handout)
  2. ADOPT:
    1. a resolution approving extension of the term of the Proposition A Sales Tax Revenue Commercial Paper Program to June 30, 2017, and providing for automatic one-year extensions to maintain the seven-year term of the program and authorizing Seventh Supplemental Subordinate Trust Agreement; and
    2. a resolution approving extension of the term of the Proposition C Sales Tax Revenue Commercial Paper Program to June 30, 2017, and providing for automatic one-year extensions to maintain the seven-year term of the program and authorizing Amendment No. 6 to First Supplemental Subordinate Trust Agreement.
  3. CONSIDER:
    1. adopting the Debt Policy;
    2. adopting the Interest Rate Swap Policy; and
    3. receiving and filing the Annual Report on Interest Rate Swaps.
  4. CONSIDER:
    1. adopting a resolution authorizing the negotiated bond sale and issuance of up to $825 million of bonds in one or more series, to be issued on one or more dates, and approving the related documents on file with the Board Secretary;
    2. receiving and filing the resolution adopted by the Measure R oversight committee making a finding of benefit related to the issuance of debt;
    3. adopting a resolution authorizing execution of the Amended Agreement For State Administration of Local Transactions And Use Tax, each substantially in the form as provided herein; and  
    4. appointing U.S. Bank to serve as the bond trustee including providing all banking and investment services related to the Measure R Master Trust Agreement, any future supplemental trust agreements and any subordinate trust agreements.
                 
      (Requires separate, simple majority Board vote.)
  5. AUTHORIZE the Chief Executive Officer to ratify expenditures for direct mail services under Purchase Order PS09714049 with Epsilon in the amount of $37,520.
  6. AUTHORIZE the Chief Executive Officer to renew group insurance policies covering non-contract, AFSCME, and Expo employees for the one-year period beginning January 1, 2011.
  7. AUTHORIZE the pledge of all categories of Measure R revenues other than Local Return in a common pledge to bondholders and other creditors under the Measure R master trust agreement being developed.
  8. 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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