FINANCE & BUDGET COMMITTEE
Thursday, October 17, 2002
- 9:30 A.M.
Call to order:
Frank Roberts, Vice Chair
Doug Failing, Ex Officio
15. RECEIVE report of the Chief Financial Officer.
16. ADOPT a resolution authorizing the issuance of the California Transit Financing Corporation 2002 refunding certificates and approve documents for the negotiated sale of the certificates by UBS Paine Webber.
(Requires separate, simple majority Board vote)
17. APPROVE strategies for locking in the potential savings from refunding up to $537 million of outstanding Proposition A 1993-A bonds by authorizing the Chief Executive Officer to:
A. appoint UBS Paine Webber to serve as senior managing underwriter, along with underwriting syndicate member firms, to price and deliver the Proposition A 2003-A refunding bonds using a forward delivery agreement in a negotiated bond sale; and
B. direct the Metro’s financial advisor to prepare bid specifications, documentation, and competitively select a firm to provide a hedge against changes in interest rates.
A. negotiation and execution of a defeased lease transaction for up to 800 NABI buses and up to 362 New Flyer buses with Philip Morris Capital Corporation as the equity investor;
B. payment of fees and transaction expenses not to exceed .65% of the appraised value of the vehicles; and
C. a resolution authorizing the lease to service contract defeased lease transaction for up to 1,162 buses.
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