https://metro.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=3869930&GUID=D9776554-BE3C-4E66-B548-A10D3E908F90Legistar15https://metro.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=3869930&GUID=D9776554-BE3C-4E66-B548-A10D3E908F90D9776554-BE3C-4E66-B548-A10D3E908F90-2025-06-09-06-23-34Title: CONSIDER: A. AUTHORIZING the Chief Executive Officer to renew and/or replace the direct-pay letters of credit (“LOC”) and direct purchase revolving credit facility (“RCF”) to be provided by the banks described below, finalize negotiations with the recommended banks and enter into reimbursement/credit agreements and related documents associated with such LOCs and RCF; 1. Replace the LOCs currently being provided by Sumitomo Mitsui Banking Corporation (“Sumitomo”) and MUFG Union Bank, N.A. (“MUFG”), for the Proposition A commercial paper program with a LOC to be provided by Barclays Bank PLC (“Barclays”) for a commitment amount of $200 million for a 3 year term at an estimated cost of $13.5 million including interest, legal fees and other related expenses. 2. Replace the LOC currently being provided by Bank of America (“BANA”) of $75 million for the Proposition C commercial paper program with a revolving credit facility provided by Wells Fargo Bank, N.A. (“Wells Fargo”) for an estimated amount of $150 million (Metro currently has $75 million outstanding with Wells Fargo) for aMon, 09 Jun 2025 06:23:34 GMT