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Please note: this meeting's minutes have not been finalized yet. Actions taken on legislation and their results are not available.
Meeting Name: Finance, Budget and Audit Committee Agenda status: Canceled
Meeting date/time: 3/18/2020 Canceled Minutes status: Draft  
Meeting location: One Gateway Plaza, Los Angeles, CA 90012, 3rd Floor, Metro Board Room
Published agenda: Agenda Agenda Published minutes: Not available  
Meeting video: eComment: Not available  
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2020-0081 9.AgreementAUTHORIZE the Chief Executive Officer (CEO) to execute a seven (7)-year lease agreement with NREA-TRC 700, LLC (“Landlord”) for an LA Metro Transit Customer Center (“TCC”) at 700 West 7th Street, Suite G80,Los Angeles (see Attachment A - Lease Location & Plan Draft), commencing approximately August 1, 2020 with a total lease value of approximately $1.8 million (see Attachment B - Deal Points).   Not available Not available
2020-0156 10.ContractAUTHORIZE the Chief Executive Officer to award a five-year, firm fixed-price Contract No. PS64807000 to Crowe LLP to provide Annual Financial and Compliance Audit Services in the amount of $1,836,135 effective April 10, 2020, subject to resolution of protest(s), if any.   Not available Not available
2020-0164 11.ContractAUTHORIZE the Chief Executive Officer to execute Modification No. 3 to Contract No. OP39497-2000 to exercise three (3), one-year options with Los Angeles Federal Armored Services, Inc. to provide currency processing services, in the amount of $572,000 for Option Year 2, $629,000 for Option Year 3, and $686,400 for Option Year 4, for a combined total amount of $1,887,400, increasing the contract value from $972,400 to $2,859,800, and extending the contract term to December 31, 2022.   Not available Not available
2020-0149 8.Informational ReportRECEIVE AND FILE the Los Angeles County Metropolitan Transportation Authority’s (Metro) basic financial statements and component financial statement audits completed by Crowe LLP (Crowe) as of and for the fiscal year ended June 30, 2019.   Not available Not available
2020-0151 12.ResolutionADOPT a resolution, Attachment A, that: A. AUTHORIZES the issuance of bonds by competitive sale to refund the Proposition C Series 2010-A Bonds, consistent with the Debt Policy to achieve approximately $4.4 million in net present value savings over the three-year life of the bonds; B. APPROVES the forms of Notice of Intention to Sell Bonds, Notice Inviting Bids, Supplemental Trust Agreement, Escrow Agreement, Continuing Disclosure Certificate and Preliminary Official Statement on file with the Board Secretary as set forth in the resolution all as subject to modification as set forth in the resolution; and 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 refunding bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY BOARD VOTE)   Not available Not available
2020-0086 13.ResolutionCONSIDER: A. Adopting a Resolution, Attachment A, that: 1. Authorizes Measure R Junior Subordinate Sales Tax Revenue Refunding Bonds in one or more series, to refinance one or more of Metro’s Transportation Infrastructure Finance and Innovation Act (“TIFIA”) Loans to achieve up to $170 million estimated net present value savings over the 18-year life of the bonds through the negotiated bond sale of up to $1.75 billion of bonds. 2. Approves the forms of the supplemental trust agreement, second amended and restated trust agreement, junior subordinate trust agreement, supplemental junior subordinate trust agreement, continuing disclosure certificate, preliminary official statement and such other documents as required for the issuance of the bonds, and approves related documents on file with the Board Secretary as set forth in the resolution all as subject to modification as set forth in the Resolution; 3. Approves the form of the bond purchase contract on file with the Board Secretary, that will be entered into with the underwriters as listed in Attachment B hereto; and 4. Authoriz   Not available Not available
2020-0161 30.Informational ReportRECEIVE AND FILE the Fiscal Year 2021 (FY21) Budget Development Update for Transit Operations, Maintenance, and Asset State of Good Repair (SGR).   Not available Not available
2020-0181  Informational ReportRECEIVE General Public Comment   Not available Not available