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2016-0843
| 8. | Informational Report | RECEIVE AND FILE the first quarter report of Management Audit Services for the period ending September 30, 2016. | | |
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2016-0797
| 9. | Resolution | ADOPT a resolution, Attachment A, that:
A. AUTHORIZES the competitive sale of Prop C Senior Lien Bonds (the “2017 Prop C Bonds”) to finance capital projects in one or more transactions through June 30, 2017;
B. APPROVES the forms of Notice of Intention to Sell Bonds, Notice Inviting Bids, Supplemental Trust Agreement, Continuing Disclosure Agreement and Preliminary Official Statement, on file with the Board Secretary all subject to modification as set forth in the resolution;
C. AUTHORIZES taking all action necessary to achieve the foregoing, including, without limitation, the further development and execution of bond documentation associated with the issuance of the 2017 Prop C Bonds; and
D. REAFFIRMS AND UPDATES the Reimbursement Resolution approved by the Board on April 26, 2016 to reflect that the amount of the 2017 Prop C Bonds may be up to $500 million and reaffirms the intention that a portion of the proceeds of the 2017 Prop C Bonds will be used to reimburse expenditures made prior to the issuance of the 2017 Prop C Bonds.
(REQUIRES SIMPLE, SEPARATE MAJORITY | | |
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2016-0740
| 10. | Agreement | AUTHORIZE the Chief Executive Officer to execute a revenue-neutral fund exchange agreement between Metro, the Ventura County Transportation Commission (VCTC) and the Southern California Regional Rail Authority (SCRRA) to fund FY16 and FY17 SCRRA rehabilitation projects. | | |
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2016-0891
| 39. | Policy | AUTHORIZE the Chief Executive Officer to provide Metrolink with “pre-contract award authority” to procure the contracts required for the urgent track and structure rehabilitation work reported by Metrolink at its Board Meeting on September 23, 2016. | | |
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2016-0909
| 43. | Motion / Motion Response | APPROVE Motion by Antonovich and Najarian that the CEO be authorized to enter into negotiations with the SCRRA Chief Executive Officer and the Chief Executive Officers of the other Member Agencies to revise the Member Agency formulae for contributions and representation, such that:
A. Any proposed formula(s) for the allocation of costs and revenues of the Metrolink Commuter Rail system balance both the costs of system operations as well as the benefits received by each of the Member Agencies within their jurisdiction; and
B. Representation of each Member Agency on the SCRRA Board of Directors is aligned to more closely represent the current and expected future financial contributions to the Metrolink Commuter Rail system; and
FURTHER MOVE THAT the CEO report back to the Metro Board of Directors, as needed, with an update on the status of these negotiations and any preliminary, proposed revisions to the formulas used in Member Agencies’ costs, revenues and or representation on the SCRRA Board of Directors, and seek the formal approval of this Board prior to any agreement that | | |
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