01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are...
Transcript of 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are...
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Finance Committee Meeting Agenda
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4. Recommend Approval of the Revised Administrative Code, the Revised Rules of Order, the Revised Debt, Fiscal, Investment and Procurement Policies, and the Travel, Conference, Training and Business Expense Reimbursement Policy – ACTION* 15
While it is Transportation Authority direction to review the Investment Policy and Debt Policy on an annual basis, it is also important to review the administrative code and all policies periodically, to ensure compliance with current statutes and the Transportation Authority’s objectives. Upon the advice of the Transportation Authority’s financial advisors, bond counsel and legal counsel, we are recommending changes to the Administrative Code; Rules of Order; Debt, Fiscal, Investment, and Procurement Policies; and the Travel, Conference, Training and Business Expense Reimbursement Policy to conform to applicable law and consistent with state and local government codes. We are seeking a recommendation to approve the revised Administrative Code, the revised Rules of Order, the revised Debt, Fiscal, Investment and Procurement Policies, and the Travel, Conference, Training and Business Expense Reimbursement Policy.
End of Consent Calendar
5. Recommend Increasing the Amount of the Professional Services Contract with Mark Thomas & Company, Inc. by $66,841 to a Total Amount Not to Exceed $665,022 for Planning, Environmental, and Engineering Services; Increasing the Amount of the Professional Services Contract with S&C Engineers, Inc. by $130,000, to a Total Amount Not to Exceed $550,700, for Construction Management Services; Increasing the Amount of the Construction Contract with O.C. Jones & Sons, Inc. by $348,000 to a Total Amount Not to Exceed $2,369,468; Authorizing the Executive Director to Modify Payment Terms and Non-Material Contract Terms and Conditions for All Three Contracts; and Authorizing an Additional Construction Allotment of $213,800 to a Total Amount Not to Exceed $400,800 for the Folsom and Fremont Street Off-Ramp Realignment Project – ACTION* 115
As the Congestion Management Agency for San Francisco, the Transportation Authority is the lead agency in the implementation of the Folsom and Fremont Street Off-Ramp Realignment Project (project), implementing the project on behalf of the San Francisco Office of Investment and Infrastructure (OCII), Successor Agency to the Redevelopment Agency. Under agreements with OCII, we have entered into contracts with Mark Thomas & Company, Inc. (MTCo) for engineering design services, S&C Engineers, Inc. (S&CE) for construction management support services, and O.C. Jones & Sons, Inc. (OCJ) for construction services. Additional effort by both MTCo and S&CE was needed to complete the design phase, and constructability review, secure the Encroachment Permit from the California Department of Transportation, contractor procurement, and construction oversight. Further, the unforeseen discovery of contaminated soil on the project site necessitates a substantial increase to the construction contract budget that exceeds the original project reserve amount. We recommend that all three contracts be amended to account for the additional efforts required. Increases to these contracts are contingent on an amendment to our existing Memorandum of Agreement with OCII to fully reimburse the Transportation Authority for project management, administrative, construction management, and construction services. This agreement is anticipated to be amended by the Commission on OCII on January 20, 2015. We are seeking a recommendation to increase the amount of the professional services contract with Mark Thomas & Company, Inc. by $66,841 to a total amount not to exceed $665,022, for planning, environmental, and engineering services; increase the amount of the professional services contract with S&C Engineers, Inc. by $130,000 to a total amount not to exceed $550,700, for construction management services; increase the amount of the construction contract with O.C. Jones & Sons, Inc. by $348,000 to a total amount not to exceed $2,369,468; authorize the Executive Director to modify contract payment terms and non-material contract terms and conditions for all three contracts; and authorizing an additional construction allotment of $213,800 to a total amount not to exceed $400,800 for the Folsom and Fremont Street Off-Ramp Realignment Project.
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Finance Committee Meeting Agenda
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6. Recommend Approval of the Scope of Work for the Improving West Side Transit Access Strategic Analysis Report – ACTION* 131
At the November 18 meeting of the Finance Committee, Commissioner Tang requested that staff conduct a Strategic Analysis Report (SAR) to investigate options for improving access to alternative modes, especially transit, on the West Side of San Francisco. She cited the 2014 Sunset District Blueprint that identified the need to improve transit service quality in the west side, which is less convenient and reliable than in the eastern core of the city. As a result, a disproportionate share of west side residents and employees choose to drive. Equity analysis conducted for the San Francisco Transportation Plan identified that transit access in the city’s west side is poorer than in other parts of the city. As part of the SAR scoping process, we have consulted further with Commissioner Tang and with the San Francisco Municipal Transportation Agency on relevant issues that should be addressed in the SAR. The proposed SAR will identify recommendations for improving the alternative transportation options available in the west side, focusing on one or more specific travel markets (e.g. west side to downtown or west side to south bay) as well as one or more target groups of travelers (e.g. students, commuters, or other). The SAR will identify the current travel patterns of those in the target market; identify the transportation options already available to them and those planned for the future, and make strategic recommendations regarding possible additional improvements that would serve their travel needs and encourage use of sustainable modes of travel. The effort is intended to be completed in approximately 6 months for an expected cost of $30,000. We budgeted for two SARs in Fiscal Year 2014/15. If approved, this would be the first SAR authorized this fiscal year. We are seeking approval of the scope of work for the Improving West Side Transit Access SAR.
7. State and Federal Legislative Update – INFORMATION/ACTION* 137
Every month, we provide an update on state and federal legislation and, when appropriate, seek recommendations to adopt new positions on active legislation. The attached matrix tracks the latest activity on state bills and the positions previously adopted by the Transportation Authority. As shown on the attached legislative matrix, we are currently not recommending the approval of any new positions this month, but are adding a bill to watch. At the meeting, we will also provide an overview of the $1.1 Trillion federal spending bill that President Obama signed into law on December 16, 2014 and its impact on transportation funding. This is an information/action item.
8. Introduction of New Items – INFORMATION
9. Public Comment
10. Adjournment
* Additional materials
--------------------------------------------------------------------------------------------------------------------------------
Please note that the meeting proceedings can be viewed live or on demand after the meeting at www.sfgovtv.org. To know the exact cablecast times for weekend viewing, please call SFGovTV at (415) 554-4188 on Friday when the cablecast times have been determined.
The Legislative Chamber (Room 250) and the Committee Room (Room 263) in City Hall are wheelchair accessible. Meetings are real-time captioned and are cablecast open-captioned on SFGovTV, the Government Channel 26. Assistive listening devices for the Legislative Chamber are available upon request at the Clerk of the Board's Office, Room 244. Assistive listening devices for the Committee Room are available upon request at the Clerk of the Board's Office, Room 244 or in the Committee Room. To request sign language interpreters, readers, large print agendas or other accommodations, please contact the Clerk of the Authority at (415) 522-4800. Requests made at least 48 hours in advance of the meeting will help to ensure availability.
The nearest accessible BART station is Civic Center (Market/Grove/Hyde Streets). Accessible MUNI Metro lines are the F, J, K, L, M, N, T (exit at Civic Center or Van Ness Stations). MUNI bus lines also serving the area are the 5, 6, 9, 19, 21, 47, 49, 71, and 71L. For more information about MUNI accessible services, call (415) 701-4485.
There is accessible parking in the vicinity of City Hall at Civic Center Plaza and adjacent to Davies Hall and the War Memorial Complex. Accessible curbside parking is available on Dr. Carlton B. Goodlett Place and Grove Street.
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Finance Committee Meeting Agenda
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If any materials related to an item on this agenda have been distributed to the Finance Committee after distribution of the agenda packet, those materials are available for public inspection at the Transportation Authority at 1455 Market Street, Floor 22, San Francisco, CA 94103, during normal office hours.
Individuals and entities that influence or attempt to influence local legislative or administrative action may be required by the San Francisco Lobbyist Ordinance [SF Campaign & Governmental Conduct Code Sec. 2.100] to register and report lobbying activity. For more information about the Lobbyist Ordinance, please contact the San Francisco Ethics Commission at 25 Van Ness Avenue, Suite 220, San Francisco, CA 94102; telephone (415) 252-3100; fax (415) 252-3112; website www.sfethics.org.
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M:\Finance\2014\Minutes\12 Dec 09 2014 Fin Mins.docx Page 1 of 4
0000000000
DRAFT MINUTES
FINANCE COMMITTEE Tuesday, December 9, 2014
1. Roll Call
Chair Cohen called the meeting to order at 11:38 a.m.
Present at Roll Call: Commissioners Cohen, Farrell, Tang and Wiener (4)
Consent Calendar
Chair Cohen removed Item 4 from the Consent Calendar to be considered as a separate item.
2. Approve the Minutes of the November 18, 2014 Meeting – ACTION
3. Recommend Increasing the Amount of the Professional Services Contract with WMH Corporation by $5,400,000, for a Total Amount Not to Exceed $11,300,000 to Complete Preliminary Engineering, Environmental Analysis, and Design Services for the Yerba Buena Island Bridge Structures and Authorizing the Executive Director to Modify Non-Material Contract Terms and Conditions – ACTION
There was no public comment.
Items 2 and 3 on the Consent Calendar were approved without objection by the following vote:
Ayes: Commissioners Cohen, Farrell, Tang and Wiener (4)
4. Recommend Exercising the Second One-Year Option of the Memorandum of Agreement (MOA) with the Office of Economic and Workforce Development and to Increase the MOA Amount by $164,600, to a Total Amount Not to Exceed $500,000, for CityBuild Services to Promote Workforce Development for Phase II of the Presidio Parkway Project and Authorizing the Executive Director to Modify Non-Material Agreement Terms and Conditions – ACTION
Cynthia Fong, Deputy Director for Finance and Administration, introduced the item per the staff memorandum. Pat Mulligan, Director of CityBuild at the Office of Economic and Workforce Development, presented the item.
Chair Cohen asked which neighborhoods the 120 local residents hired on this project were from.
Mr. Mulligan responded that he could provide that information by zip code and demographic, as anyone who received employment services through CityBuild had to be registered with a San Francisco address. He added that CityBuild’s practices were focused on the economically disadvantaged and that its workforce training programs were predominantly made up of residents from the southeast area of the city.
Ms. Fong stated that this item went before the Citizens Advisory Committee on December 3 and received a unanimous motion of support. She said that the Transportation Authority was currently able to fund this $164,600 contract with an appropriation previously approved by the
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Board, and that any adjustments that would need to be made for the Fiscal Year 2014/15 adopted budget would be made at the mid-year point.
There was no public comment.
This item was approved without objection by the following vote:
Ayes: Commissioners Cohen, Farrell, Tang and Wiener (4)
End of Consent Calendar
Chair Cohen called Items 5 and 6 together.
5. State and Federal Legislative Update – INFORMATION/ACTION
Mark Watts, State Legislative Advocate for the Transportation Authority, presented the item. He reported that chairs had been announced for the Assembly Transportation Committee and for the Assembly Budget Committee. Mr. Watts stated that key transportation items in the coming year would be the funding shortfall, with a focus on state and local revenue growth. He added that the creation of the state’s Rainy Day Fund might exert budgetary pressure across state expenditure categories.
Mr. Watts reported that more than 105 new measures were introduced at the beginning of the session, including six transportation-related bills. He said that several of the new transportation bills focused on ending funding for High-Speed Rail and deferring or exempting fuels from the cap and trade regime. He noted that these bills were not likely to make it out of Committee. He recommended the following positions on six transportation bills: support for Assembly Bill (AB) 8 (Gatto); and oppose for AB 6 (Wilk), AB 23 (Patterson), Senate Bill (SB) 1 (Gaines), SB 5 (Vidak) and SB 39 (Pavley).
Commissioner Cohen asked what the approach to AB 6 was. Mr. Watts replied that AB 6 would restrict the sale of additional high-speed rail bonds, redirect existing revenues to debt service, and redirect unsold bond capacity to K-12 education. He added that the effort to kill high-speed rail was being led by Central Valley and Southern California Republicans who did not have enough votes to get the bills out of Committee.
Commissioner Cohen asked for clarification on AB 8. Mr. Watts explained that AB 8 was similar to prior bills in that it promoted street safety; however, unlike prior bills the Governor vetoed, AB 8 would not impose fines.
Commissioner Cohen asked about AB 40 and Golden Gate sidewalk fees. Mr. Watts said that AB 40 would prevent the imposition of charges for bicyclists and pedestrians on the Golden Gate Bridge. Commissioner Wiener said that eight of nine San Francisco Golden Gate Highway Bridge and Transit District Directors opposed the proposal to study these charges, and that the motion only won by one vote so he didn’t expect it to advance further. Mr. Watts added that the Committee would not likely take up AB 40 until March and then it may be put on hold if it makes it out of Committee.
Commissioner Cohen asked about SB 8 and SB 16. Mr. Watts explained that both bills were notices of Legislature intent and not yet fully formed bills. Commissioner Cohen asked for the staff contacts working on SB 8, which Mr. Watts said he could provide that as follow-up information. Commissioner Cohen stated an interest in seeing more language around homeless encampments and more effectively securing California Department of Transportation areas in
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SB 16. Mr. Watts noted that he would be willing to engage on her behalf in the crafting of the bill, if the Commissioners desired.
Commissioner Cohen asked for clarification on AB 2. Mr. Watts responded that Governor Brown had made his stance on Redevelopment Agencies (RDAs) clear by disbanding them, and had carefully and thoughtfully crafted legislation on so-called Super Infrastructure Financing Districts (IFDs) in the wake of RDAs. Mr. Watts said that, given this position, Governor Brown would likely dismiss AB 2 and encourage use of the Super IFD framework.
6. Recommend Approval of the 2015 State and Federal Legislative Program – ACTION
Amber Crabbe, Assistant Deputy Director for Policy and Programming, presented the item per the staff memorandum.
There was no public comment for Items 5 and 6.
These items were approved without objection by the following vote:
Ayes: Commissioners Cohen, Farrell, Tang and Wiener (4)
7. Recommend Authorizing the Executive Director to Execute a Memorandum of Agreement with the San Francisco Planning Department for the Geary Bus Rapid Transit (BRT) Project Environmental Review Phase, in an Amount not to Exceed $139,276, and to Negotiate Agreement Payment Terms and Non-Material Agreement Terms and Conditions; and Assigning the Professional Services Contract with Jacobs Engineering Group to CirclePoint, Increasing the Amount of the Contract by $225,000, to a Total Amount Not to Exceed $4,409,489, for Environmental Analysis Services for the Geary BRT Project Environmental Impact Report/Statement, and Authorizing the Executive Director to Modify Non-Material Contract Terms and Conditions – ACTION
Chester Fung, Principal Transportation Planner, presented the item per the staff memorandum.
Commissioner Tang asked whether the project had utilized a request for proposals process and whether assignment of the contract would be allowable. Mr. Fung replied that the project did utilize a request for proposals process and noted that the contract terms specifically allowed for the contract to be assigned.
Commissioner Wiener asked whether staff was confident that, if funds were available, construction would indeed begin in 2018, and whether it would take two years. Mr. Fung replied that staff was confident in that date pending funding, and that the length of the construction period would depend in part on how long a construction segment would be. He noted that taking more blocks for construction at one time would shorten the overall construction period but would have higher disruption, and that the agencies wished to have a discussion with the community during the engineering design phase to determine the balance of construction disruption and overall construction timeframe.
Commissioner Wiener noted that the process had taken 12 years and asked how the process could be shortened for future projects. Tilly Chang, Executive Director, replied that the Van Ness Avenue BRT project had come before the Geary Corridor BRT project and provided learning opportunities, and that lessons from Geary could inform future BRT efforts such as 16th Street. She added that for Geary, the agencies were planning to deliver not just the full BRT but also near-term improvements. Asked by Commissioner Wiener about what ought to be the expected duration of future BRT development efforts, Ms. Chang gave an estimate of four years
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for construction, with two for planning, one for conceptual engineering, and one for final design. Commissioner Wiener related a recent experience of delivering a small project at Diamond and Bosworth with the San Francisco Municipal Transportation Agency (SFMTA), noting that the project took longer than expected, and asked whether there were signs of improvement in SFMTA’s delivery. Ms. Chang replied that there were signs of improvement, with senior management from the SFMTA and San Francisco Public Works meeting regularly to discuss implementation. She added that tools such as those allowing staff to see all projects currently planned for the same geographic areawere also aiding project delivery.
There was no public comment.
The item was approved without objection by the following vote:
Ayes: Commissioners Cohen, Farrell, Tang and Wiener (4)
8. Recommend Authorizing the Executive Director to Execute a Funding Agreement with the Metropolitan Transportation Commission, in an Amount Not to Exceed $300,000, for the San Francisco Bay Area Core Capacity Transit Study, and Authorizing the Executive Director to Negotiate Agreement Payment Terms and Non-Material Agreement Terms and Conditions – ACTION
Liz Brisson, Senior Transportation Planner, presented the item per the staff memorandum.
Commissioner Tang asked when the study would be completed.
Ms. Brisson responded that the study was just kicking off and was envisioned as an approximate two-year effort, with interim deliverables timed to inform the 2017 Regional Transportation Plan (RTP). She indicated that important investment decisions for the RTP would happen in Summer 2016. Ms. Brisson added that a refined schedule of study milestones, including timing of substantial public involvement opportunities, was anticipated after start-up was concluded in one month.
There was no public comment.
The item was approved without objection by the following vote:
Ayes: Commissioners Cohen, Farrell, Tang and Wiener (4)
9. Introduction of New Items
There was no public comment.
10. Public Comment
There was no public comment.
11. Adjournment
The meeting was adjourned at 12:51 p.m.
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jurisdictional issues exist. The Transportation Authority also conducts oversight to ensure timely delivery of other Prop K planning projects.
On December 11, 2012, through Resolution 13-19, the Transportation Authority awarded three-year consultant contracts, with an option to extend for two additional one-year periods, to Arup North America Limited (Arup), Nelson\Nygaard Consulting Associates (Nelson\Nygaard), and Stantec Consulting Services Inc. (Stantec), in a combined amount not to exceed $600,000 for on-call transportation planning services. On June 24, 2014, through Resolution 14-82, the Transportation Authority approved the first of two contract options and increased the contract amounts by an additional $300,000, to a combined total not to exceed $900,000. The establishment of contracts with one or more consultant teams enables the Transportation Authority to enlist the services of a broad range of transportation planning specialists on an on-call, task order basis.
DISCUSSION
The purpose of this memorandum is to seek a recommendation to exercise the second one-year option of the consultant contracts for on-call transportation planning services to support the Transportation Authority’s work program over the next year.
The transportation planning teams provides a unique set of skills, technical specialists, and relevant project experience, particularly in program management. In particular, Arup demonstrates strong capabilities in transit and highway operations analysis and other requested task areas, Nelson\Nygaard builds upon a proven track record of performance in a majority of on-call services task areas, and Stantec brings relevant experience in major transit and freeway performance initiatives as well as access to broad international experience through a United Kingdom-based partner. General areas of expertise include:
Project Management;
Transportation planning;
Communications and community involvement;
Design and cost estimation;
Modeling/data analysis; and
Policy and economic analysis
Since 2012, the consultant teams provided assistance to various transportation studies, including the Waterfront Transportation Assessment, Potrero Hill and Chinatown Neighborhood Transportation Plans (NTP), 19th Avenue Bulb-outs Project Study Report, Central Subway Phase III – Initial Study, Late Night Transportation Plan, Geary Corridor Bus Rapid Transit (BRT) Environmental Review support and the Geneva-Harney BRT Feasibility study, Treasure Island Mobility Management Program, Freeway Corridor Management Study and Strategic Highway Research Program Transit Passenger Simulation.
The first contract option, approved in June 2014, did not anticipate costs relating to the shift in personnel by a subconsultant that has recently joined Stantec. This subconsultant, which provided expertise in project management, toll policies and engineering, was previously contracted with under the Transportation Authority’s Project Management Oversight on-call contract for the Treasure Island Mobility Management Program and Freeway Corridor Management Study. Also, the Geneva-Harney BRT Feasibility study required additional project management and planning resources in order to address an expanded study effort that allowed the Transportation Authority to collaborate more fully with study partners in project development. In addition, in Fall 2014, the Federal Highway
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Administration awarded the Transportation Authority a new grant to implement applied research on transit passenger simulation in a real-world planning environment. On-call planning services were needed for project management and planning expertise.
For the upcoming year, the consultant teams will continue to provide assistance as the following projects advance forward – Geary Corridor BRT, Chinatown NTP, Treasure Island Management Mobility Study, Freeway Corridor Management Study, and Strategic Highway Research Program Transit Passenger Simulation – and provide other anticipated transportation planning services as needed, such as the San Francisco Transportation Plan (SFTP) Update, the Neighborhood Transportation Improvement Program (NTIP), and SARs.
SFTP Update: In 2013, the Transportation Authority adopted SFTP that serves as the city’s blueprint for transportation system development and investment over the next 30 years. Consistent with newly adopted regional guidelines for development of countywide transportation plans, we initiated the 2017 SFTP Update in 2014 to update the plan to account for changes in mobility conditions since the last plan was adopted (e.g., the proliferation of Transportation Network Companies, significant housing construction, etc.) and to inform the 2017 Regional Transportation Plan (RTP or Plan Bay Area) update, which is now underway. The SFTP Update identifies key transportation needs through an analysis of future trends, and aligns these needs with projected available funding, as well as potential new revenues. The SFTP Update will include background papers and studies (land use, revenue, institutional, etc.) and strategic policy initiatives to support the investments in the transportation system. Consultant tasks for this project include project management support and technical analysis for needs identification and investment scenarios.
Treasure Island Management Mobility Program: As the designated Treasure Island Mobility Management Agency, the Transportation Authority carries out a work program per agreement with the Treasure Island Development Authority that includes three elements: agency governance, administration, and outreach; program planning; and program engineering. Agency governance and administration tasks include support for program scoping, scheduling, and budgeting, and strategic advising on toll agency formation and operation. Planning tasks include day-to-day management of the Treasure Island Mobility Management Study, which will recommend toll policies, anticipated in Summer 2015. Engineering tasks include serving as a liaison between the Planning team and Engineering team, and leading the development of operating agency agreements. We seek to continue our use of on-call planning services to carry out these tasks.
Geary Corridor BRT: The Geary Corridor BRT project is scheduled to complete its environmental review phase this year, with major milestones slated throughout the year, including circulating a public draft Environmental Impact Report/Statement (EIR/S) in the spring, developing responses to public comments received this summer, and developing a final EIR/S for certification and various related approval actions this fall. On-call planning services are needed to assist in managing the technical consultant team to produce the needed environmental documentation, conduct accompanying public outreach, and provide technical planning analysis on detailed design issues as they arise.
Strategic Highway Research Program Transit Passenger Simulation: In Fall 2014, the Federal Highway Administration (FHWA) awarded the Transportation Authority (as part of a three-agency consortium) a $700,000, 24-month grant to implement applied research on transit passenger simulation in a real-world planning environment. At the conclusion of this grant, San Francisco will have a more robust set of tools with which to analyze transit crowding and transit reliability. While a large tranche of the work will be completed in-house, on-call planning services are needed for project management among the three agencies, and planning expertise.
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Chinatown NTP: The Chinatown NTP provides analysis and recommendations on how to address transportation issues of top concern to the Chinatown community. These include persistent high traffic volumes on Broadway and pedestrian safety issues on the neighborhood’s high injury corridors. Development of recommendations (with the support of consultant support provided through on-call planning services) is underway and the final project report is due by June 2015.
Freeway Corridor Management Study: The San Francisco Freeway Corridor Management Study (SF FCMS) is a collaborative effort that builds on recommendations from the 2013 SFTP. The SF FCMS initiates a planning process to look at ways to increase the operational efficiency and person throughput of San Francisco's freeways by considering technology and signage/striping, as well as converting existing general purpose travel lanes to carpool or transit lanes, and/or managed (express) lanes. It will provide inputs and priorities from San Francisco into parallel freeway management plans at both the regional and state level. This was one of the highest performing projects in Plan Bay Area. The SF FCMS findings will inform the development of the 2017 Plan Bay Area update. On-call planning services sought include strategic advising on the managed lane project development process.
Other Transportation Planning Services: Other anticipated transportation planning services may include support for SARs (e.g. see separate agenda item for approval of a SAR on Improving West Side Transit Access), NTIP and corridor and area planning studies. Several new studies are undertaken each year, and we also continue to support the implementation of completed NTPs after they are approved. We also reviews and provides input to other local, regional, and statewide transportation plans.
Given the wide range of desired proficiencies and experience, the amount and complexity of the Transportation Authority’s work program, and occasional conflicts of interest or availability that arise for specific efforts, there is a need for broad and deep access to transportation planning skills in the on-call planning contract. We propose to renew the contracts of all three consultant teams with whom the Transportation Authority may call upon on a task order basis. Such an arrangement has proved beneficial to the Transportation Authority’s work program.
Amounts and funding sources for each project included in the proposed contract amendments are summarized in Attachment 1. In addition to increases associated with specific projects, a contingency is also included to accommodate unanticipated needs for on-calling planning services. The proposed action will exercise the second and final option of the initial contract and maintains contract terms and conditions.
Since a portion of the contracts are anticipated to be funded with federal financial assistance from FHWA, administered by the California Department of Transportation (Caltrans) and the Metropolitan Transportation Commission (MTC), the Transportation Authority will adhere to federal regulations pertaining to disadvantaged business enterprises (DBE). For these contracts, we established a DBE goal of 13%. Overall, the three consultant teams have maintained 18% DBE participation collectively, from Asian Pacific-owned firm, Cooper Pugeda Management Inc., and women-owned firms, Eisen|Letunic, Transportation Analytics and Strategic Economics. Cooper Pugeda Management Inc. is also based in San Francisco.
ALTERNATIVES
1. Recommend exercising the second one-year option of the consultant contracts with Arup North America Limited, Nelson\Nygaard Consulting Associates, and Stantec Consulting Services Inc., increasing the contract amounts by $836,000, to a combined total amount not to exceed $1,736,000, for on-call transportation planning services and authorizing the Executive Director to modify contract payment terms and non-material contract terms and conditions, as requested.
2. Recommend exercising the second one-year option of the consultant contracts with Arup North
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America Limited, Nelson\Nygaard Consulting Associates, and Stantec Consulting Services Inc., increasing the contract amounts by $836,000, to a combined total amount not to exceed $1,736,000, for on-call transportation planning services, and authorizing the Executive Director to modify contract payment terms and non-material contract terms and conditions, with modifications.
3. Defer action, pending additional information or further staff analysis.
CAC POSITION
Due to the year-end holidays, the Citizens Advisory Committee does not meet in late December and therefore, did not take a position on this item.195
FINANCIAL IMPACTS
The scope of work and budget described in the proposed amendment will be included in the Transportation Authority’s mid-year budget amendment and sufficient funds will be included in next fiscal year’s budget to cover the cost of these contracts. Budget for these activities will be funded by a combination of federal Surface Transportation Program grants, federal grants from Caltrans and MTC, local contributions from the Treasure Island Development Authority and Prop K funds.
RECOMMENDATION
Recommend exercising the second one-year option of the consultant contracts with Arup North America Limited, Nelson\Nygaard Consulting Associates, and Stantec Consulting Services Inc., increasing the contract amounts by $836,000, to a combined total amount not to exceed $1,736,000, for on-call transportation planning services, and authorizing the Executive Director to modify contract payment terms and non-material contract terms and conditions.
Attachment: 1. List of proposed projects and funding sources
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Attachment 1: List of proposed projects and funding sources
Projects Funding Source(s) Amount
1. SFTP Update Federal Surface Transportation Program grant, Prop K and anticipated funding from the Mayor’s Office
$200,000
2. Treasure Island Mobility Management Program
Federal grants from Caltrans and MTC, Treasure Island Development Authority and Prop K
$195,000
3. Strategic Highway Research Program Transit Passenger Simulation
Federal grant from MTC $116,000
4. Geary BRT Prop K $100,000
5. Chinatown NTP Prop K $15,000
6. Freeway Corridor Management Study
Caltrans Planning Grant and Prop K $15,000
7. Contingency To be determined $195,000
TOTAL $836,000
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Transportation Authority’s request, Nossaman LLP (Nossaman), general counsel to the Transportation Authority, reviewed the Administrative Code adopted on January 28, 2014 through Ordinance 14-01. Based on that review, we are recommending changes as redlined in Attachment 2.
Rules of Order: The Rules of Order establishes procedures to ensure its Board and Committee meetings are conducted in a clear and efficient manner, while in compliance with current statutes and Transportation Authority objectives. Nossaman reviewed the Rules of Order adopted on January 28, 2014 through Resolution 14-43, and based on that review, we are recommending changes as redlined in Attachment 3.
Debt Policy: The purpose of the Debt Policy is to organize and formalize debt issuance-related policies and procedures. At the Transportation Authority’s request, the Transportation Authority’s financial advisor, KNN Public Finance (KNN), and the Transportation Authority’s bond counsel, Nixon Peabody LLP (Nixon Peabody), reviewed the Debt Policy adopted on January 28, 2014 through Resolution 14-43. Based on that review, we are recommending changes as redlined in Attachment 4.
Fiscal Policy: The Fiscal Policy is designed to guide decisions pertaining to internal fiscal management, including day-to-day operations, annual budget development and sales tax revenue allocation requirements of the Transportation Authority. KNN and Nixon Peabody reviewed the Fiscal Policy adopted on January 28, 2014 through Resolution 14-43, and based on that review, we are recommending changes as redlined in Attachment 5.
Investment Policy: The purpose of the Investment Policy is to set out policies and procedures that enhance opportunities for a prudent and systematic investment policy and to organize and formalize investment-related activities. KNN and Nixon Peabody reviewed the Investment Policy adopted on January 28, 2014 through Resolution 14-43, and based on that review, we are recommending changes as redlined in Attachment 6.
Procurement Policy: The Procurement Policy is designed to guide decisions pertaining to procurement, including the modes, methods and procedures for acquiring the materials, equipment and services necessary to carry out the operations of the Transportation Authority. Nossaman reviewed the Procurement Policy adopted on January 28, 2014 through Resolution 14-43, and based on that review, we are recommending changes as redlined in Attachment 7.
Travel, Conference, Training and Business Expense Reimbursement Policy: This document establishes a set of policies relating to travel, conference, training and business expenses, and establishes procedures for reimbursement of commissioners and employees. These rules and guidelines are designed to safeguard public funds and to ensure the Transportation Authority and its personnel are using the most economical and well-documented procedures in a consistent manner. Based on the Transportation Authority’s review of the Travel, Conference, Training and Business Expense Reimbursement Policy adopted on June 17, 2008 through Resolution 08-79, we are recommending changes as redlined in Attachment 8.
ALTERNATIVES
1. Recommend approval of the revised Administrative Code, the revised Rules of Order, the revised Debt, Fiscal, Investment and Procurement Policies, and the Travel, Conference, Training and Business Expense Reimbursement Policy, as requested.
2. Recommend approval of the revised Administrative Code, the revised Rules of Order, the revised Debt, Fiscal, Investment and Procurement Policies, and the Travel, Conference, Training and
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Business Expense Reimbursement Policy, with modifications.
3. Defer action, pending additional information or further staff analysis.
CAC POSITION
Due to the year-end holidays, the Citizens Advisory Committee does not meet in late December and therefore, did not take a position on this item.
FINANCIAL IMPACTS
There is no financial impact to the Transportation Authority’s adopted FY 2014/15 budget from the requested action.
RECOMMENDATION
Recommend approval of the revised Administrative Code, the revised Rules of Order, the revised Debt, Fiscal, Investment and Procurement Policies, and the Travel, Conference, Training and Business Expense Reimbursement Policy.
Attachments (8):
1. Policies Matrix 2. Draft Administrative Code 3. Draft Rules of Order 4. Draft Debt Policy 5. Draft Fiscal Policy 6. Draft Investment Policy 7. Draft Procurement Policy 8. Draft Travel, Conference, Training and Business Expense Reimbursement Policy
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e C
hairp
erso
n sh
all
serv
e as
a v
otin
g m
embe
r w
hen
his/
her
pres
ence
is
nece
ssar
y in
ord
er t
o co
nstit
ute
a qu
orum
. W
ith t
he e
xcep
tion
of t
he
Per
sonn
el C
omm
ittee
, th
ree
mem
bers
of
the
Tra
nspo
rtat
ion
Aut
horit
y C
omm
ittee
sh
all
cons
titut
e a
quor
um f
or t
he t
rans
actio
n of
bus
ines
s an
d al
l of
ficia
l ac
ts o
f th
e T
rans
port
atio
n A
utho
rity
Com
mitt
ee s
hall
requ
ire th
e af
firm
ativ
e vo
te o
f th
e m
ajor
ity
of t
he q
uoru
mau
thor
ized
num
ber
of m
embe
rs o
f th
e C
omm
ittee
. In
the
case
of
a tie
vo
te
in
any
Tra
nspo
rtat
ion
Aut
horit
y C
omm
ittee
, th
e T
rans
port
atio
n A
utho
rity
Cha
irper
son,
who
is p
rese
nt b
ut n
ot a
ctin
g as
a v
otin
g m
embe
r, m
ay c
ast t
he d
ecid
ing
Cha
nge
mad
e to
ref
lect
the
requ
irem
ent
in G
over
nmen
t Cod
e §
5495
2.6
that
ac
tions
of
a le
gisl
ativ
e bo
dy b
e m
ade
by
a m
ajor
ity o
f th
e m
embe
rs o
f th
at b
ody.
6-7
18
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achm
ent
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os\0
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ge 2
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1
AD
MIN
IST
RA
TIV
E C
OD
E
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
vote
.
Sect
ion
5.3(
a)
4.
Mon
itori
ng
the
Tra
nspo
rtat
ion
Aut
horit
y’s
prog
ram
s an
d ev
alua
ting
the
spon
sorin
g ag
enci
es’ p
rodu
ctiv
ity a
nd e
ffec
tiven
ess.
C
lean
-up
chan
ge.
7
Sect
ion
5.5.
7 (c
) A
fter
th
e B
oard
ha
s de
cide
d to
ca
rry
out
or
appr
ove
the
proj
ect,
the
Tra
nspo
rtat
ion
Aut
horit
y m
ay f
ile a
not
ice
of d
eter
min
atio
n w
ith t
he c
ount
y cl
erk
in
the
coun
ty o
r co
untie
s in
whi
ch th
e pr
ojec
t is
to b
e lo
cate
d. I
f re
quire
d by
CE
QA
, the
no
tice
of d
eter
min
atio
n sh
all
also
be
filed
with
the
Cal
iforn
ia G
over
nor’s
Off
ice
of
Pla
nnin
g an
d R
esea
rch.
Cha
nge
mad
e be
caus
e th
is p
rovi
sion
is a
du
plic
ate
of S
ectio
n 5.
5.10
(b).
10
Sect
ion
5.5.
8(c)
Whe
n th
e dr
aft
EIR
has
bee
n pr
epar
ed, t
he T
rans
port
atio
n A
utho
rity
shal
l file
a
Not
ice
of C
ompl
etio
n an
d sh
all p
rovi
de p
ublic
not
ice
of t
he d
raft
EIR
, as
requ
ired
by C
EQ
A.
The
com
men
t pe
riod
on
draf
t E
IRs
shal
l m
eet
the
requ
irem
ents
of
CE
QA
. T
he d
raft
EIR
sha
ll be
ava
ilabl
e to
the
gen
eral
pub
lic u
pon
filin
g of
the
N
notic
e of
Cco
mpl
etio
n.
Cle
an-u
p ch
ange
. 10
Sect
ion
5.5.
8(d)
Pub
lic p
artic
ipat
ion,
bot
h fo
rmal
and
info
rmal
, sha
ll be
enc
oura
ged
at a
ll st
ages
of
rev
iew
, and
wri
tten
com
men
ts s
hall
be a
ccep
ted
at a
ny t
ime
up t
o th
e co
nclu
sion
of
the
pub
lic c
omm
ent
perio
d. T
he T
rans
port
atio
n A
utho
rity
may
giv
e pu
blic
not
ice
at a
ny f
orm
al s
tage
of
the
revi
ew p
roce
ss, b
eyon
d th
e no
tices
req
uire
d by
CE
QA
, in
any
man
ner
it m
ay d
eem
app
ropr
iate
, and
may
mai
ntai
n a
publ
ic lo
g as
to
the
stat
us
of
all
proj
ects
un
der
form
al
revi
ew.
Mem
bers
of
th
e ge
nera
l pu
blic
sh
all
be
enco
urag
ed to
sub
mit
thei
r co
mm
ents
in w
ritin
g as
ear
ly a
s po
ssib
le.
Cle
an-u
p ch
ange
. 10
Sect
ion
5.5.
10(a
)
Bef
ore
mak
ing
its d
ecis
ion
whe
ther
to
carr
y ou
t or
app
rove
the
pro
ject
, th
e B
oard
sha
ll re
view
and
con
side
r th
e in
form
atio
n co
ntai
ned
in t
he E
IR e
nviro
nmen
tal
docu
men
t and
sha
ll m
ake
findi
ngs
as r
equi
red
by C
EQ
A.
Cha
nge
mad
e to
mak
e se
ctio
n re
fere
nce
actio
ns th
at d
o no
t req
uire
an
EIR
. 11
Sect
ion
5.5.
12(b
)
Whe
re s
uch
a m
odifi
catio
n oc
curs
as
to a
pro
ject
tha
t ha
s be
en d
eter
min
ed t
o be
exc
lude
d or
cat
egor
ical
ly e
xem
pt, a
new
det
erm
inat
ion
shal
l be
mad
e. I
f th
e pr
ojec
t is
aga
in d
eter
min
ed to
be
excl
uded
or
cate
goric
ally
exe
mpt
, no
furt
her
eval
uatio
n sh
all
be r
equi
red.
If
the
proj
ect
is d
eter
min
ed n
ot t
o be
exc
lude
d or
cat
egor
ical
ly e
xem
pt,
an in
itial
stu
dy s
hall
be c
ondu
cted
as
prov
ided
in th
is S
ectio
n 5.
5.6.
Cle
an-u
p ch
ange
. 11
Sect
ion
5.5.
12(c
)
Whe
re s
uch
a m
odifi
catio
n oc
curs
as
to a
pro
ject
for
whi
ch a
neg
ativ
e de
clar
atio
n ha
s be
en a
dopt
ed o
r a
final
EIR
has
bee
n ce
rtifi
ed,
the
Tra
nspo
rtat
ion
Aut
horit
y sh
all r
eeva
luat
e th
e pr
opos
ed p
roje
ct in
rel
atio
n to
suc
h m
odifi
catio
n. I
f, on
th
e ba
sis
of s
uch
reev
alua
tion,
the
Tra
nspo
rtat
ion
Aut
horit
y de
term
ines
, bas
ed o
n th
e re
quire
men
ts o
f C
EQ
A,
that
no
addi
tiona
l en
viro
nmen
tal
revi
ew i
s ne
cess
ary,
thi
s de
term
inat
ion
and
the
reas
ons
supp
ortin
g th
e de
term
inat
ion
shal
l be
note
d in
writ
ing
in t
he c
ase
reco
rd, a
nd n
o fu
rthe
r ev
alua
tion
shal
l be
requ
ired.
If
the
Tra
nspo
rtat
ion
Aut
horit
y de
term
ines
th
at
addi
tiona
l en
viro
nmen
tal
revi
ew
is
nece
ssar
y,
a ne
w
eval
uatio
n sh
all b
e co
mpl
eted
pri
or to
the
deci
sion
by
the
City
Boa
rd a
s to
whe
ther
to
Cle
an-u
p ch
ange
. 11
19
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ge 3
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1
AD
MIN
IST
RA
TIV
E C
OD
E
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
carr
y ou
t or
app
rove
the
pro
ject
as
mod
ified
. CE
QA
set
s fo
rth
spec
ific
requ
irem
ents
fo
r th
e de
term
inat
ion
of w
heth
er a
sup
plem
enta
l or
subs
eque
nt E
IR is
nec
essa
ry, a
s w
ell a
s th
e ap
plic
able
pro
cess
.
20
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achm
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ge 4
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1
RU
LE
S O
F O
RD
ER
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Rul
e 1.
1 A
s us
ed i
n th
ese
Rul
es,
the
follo
win
g w
ords
and
phr
ases
sha
ll ha
ve t
he m
eani
ngs
rece
ptiv
ely
resp
ectiv
ely
ascr
ibed
to th
em b
y R
ules
1.2
thro
ugh
1.18
. C
lean
-up
chan
ge.
1
Rul
e 1.
3 “A
dopt
ed”
in c
onne
ctio
n w
ith p
ropo
sed
reso
lutio
ns o
r or
dina
nces
, sh
all
mea
n an
d in
clud
e ad
optio
n of
suc
h pr
opos
ed r
esol
utio
ns o
f or
ord
inan
ces
by t
he S
an F
ranc
isco
C
ount
y T
rans
port
atio
n A
utho
rity.
Cle
an-u
p ch
ange
. 1
Rul
e 2.
2 E
xcep
t th
is r
ule
and
Rul
es w
hich
are
res
tate
men
ts o
f ot
her
appl
icab
le la
ws
and
whi
ch
are
desi
gnat
ed i
n th
ese
Rul
es b
y an
ast
eris
k, a
ny r
ule
may
be
susp
ende
d by
the
af
firm
ativ
e vo
te o
f ei
ght
(8)
mem
bers
unl
ess
ther
e be
les
s th
an e
ight
(8)
mem
bers
pr
esen
t, in
whi
ch c
ase
the
unan
imou
s co
nsen
t of
the
mem
bers
pre
sent
, bu
t no
t le
ss
than
six
(6) s
hall
be r
equi
red.
A m
otio
n to
sus
pend
the
rule
s is
not
deb
atab
le.
Cle
an-u
p ch
ange
. 3
Rul
e 2.
15
Any
per
son
so r
emov
ed s
hall
be e
xclu
ded
from
fur
ther
att
enda
nce
at t
he m
eetin
g fr
om w
hich
rem
oved
, unl
ess
perm
issi
on to
att
end
be g
rant
ed u
pon
mot
ion
adop
ted
by
a m
ajor
ity v
ote
of t
he B
oard
or
com
mitt
ee,
and
such
exc
lusi
on s
hall
be e
ffec
ted
by
atte
ndan
t la
w
enfo
rcem
ent
offic
er
or
offic
ers
upon
be
ing
so
requ
este
d by
th
e pr
esid
ing
offic
er.
Cle
an-u
p ch
ange
. 4-
5
Rul
e 3.
5 C
alen
darA
gend
a. P
rior
to p
repa
ratio
n of
the
cal
enda
rage
nda,
the
Exe
cutiv
e D
irect
or
shal
l re
view
and
fin
aliz
e w
ith t
he C
hair
all
mat
ters
to
be c
onsi
dere
d at
the
mee
ting.
A
ny m
embe
r m
ay r
eque
st o
f th
e C
hair
in
wri
ting
ten
(10)
bus
ines
s da
ys p
rior
to
the
sche
dule
d B
oard
or
co
mm
ittee
m
eetin
g th
at
an
item
be
in
clud
ed
on
the
cale
ndar
agen
da. T
he C
hair
shal
l eith
er r
efer
the
issu
e to
com
mitt
ee w
ithin
a r
easo
nabl
e tim
e or
adv
ise
the
mem
ber
why
it w
ill n
ot b
e sc
hedu
led.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
6
Rul
e 3.
7 T
he C
lerk
may
rea
d ab
brev
iate
d tit
les
of m
easu
res
on t
he c
alen
dar
agen
da w
hen
the
abbr
evia
ted
wor
king
will
cle
arly
exp
ress
to th
e m
embe
rs a
nd to
the
liste
ning
pub
lic th
e na
ture
of
the
mea
sure
.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
7
Rul
e 3.
9 *M
easu
res
Not
on
the
Cal
enda
rAge
nda.
Bef
ore
cons
ider
ing
an i
tem
of
busi
ness
not
on
the
cal
enda
rage
nda,
the
Boa
rd s
hall
adop
t a
mot
ion
(i) b
y m
ajor
ity v
ote
of t
he f
ull
mem
bers
hip
of t
he B
oard
tha
t an
em
erge
ncy
exis
ts, a
s de
fined
in G
over
nmen
t C
ode
Sect
ion
5495
6.5;
or
(ii)
by a
tw
o-th
irds
vote
of
the
full
mem
bers
hip,
or
if le
ss t
han
two-
third
s of
the
mem
bers
are
pre
sent
, a u
nani
mou
s vo
te o
f th
ose
mem
bers
pre
sent
, de
term
inin
g th
at t
here
is
a ne
ed t
o ta
ke i
mm
edia
te a
ctio
n an
d th
at t
he n
eed
to t
ake
actio
n ar
ose
afte
r th
e ca
lend
ar a
gend
a w
as p
oste
d (S
ectio
n 54
954.
2 of
the
Gov
ernm
ent
Cod
e).
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
7
21
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ge 5
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1
RU
LE
S O
F O
RD
ER
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Rul
e 3.
10
All
reso
lutio
ns,
ordi
nanc
es,
parl
iam
enta
ry
actio
ns,
all
reco
mm
enda
tions
of
a
com
mitt
ee,
actio
ns o
n m
atte
rs w
hich
con
cern
onl
y th
e in
tern
al f
unct
ioni
ng o
f th
e B
oard
, di
rect
ives
to
the
stal
l st
aff
of t
he T
rans
port
atio
n A
utho
rity
to p
erfo
rm s
ome
spec
ific
act
in t
he l
ine
of t
he o
ffic
ial
duty
, ad
optio
n of
the
ann
ual
repo
rt,
inqu
ires,
ac
tions
of
a ce
rem
onia
l or
com
mem
orat
ive
natu
re, a
nd s
uch
othe
r ac
tions
as
may
be
appr
oved
by
the
Tra
nspo
rtat
ion
Aut
hori
ty’s
leg
al c
ouns
el,
may
be
acco
mpl
ishe
d by
m
otio
n.
Unl
ess
othe
rwis
e pr
ovid
ed b
y th
ese
Rul
es,
a m
otio
n of
a p
arlia
men
tary
nat
ure
shal
l re
quire
for
ado
ptio
n th
e af
firm
ativ
e vo
te o
f at
lea
st a
maj
ority
of
the
mem
bers
pr
esen
tof
the
Boa
rd o
r co
mm
ittee
, the
re b
eing
pre
sent
not
less
than
a q
uoru
m.
*All
othe
r m
otio
ns s
hall
requ
ire f
or a
dopt
ion
the
affir
mat
ive
vote
of
a m
ajor
ity o
f al
l th
e m
embe
rs o
f th
e T
rans
port
atio
n A
utho
rity
, exc
ept
as o
ther
wis
e pr
ovid
ed b
y th
ese
Rul
es, t
he C
ode,
or
othe
r ap
plic
able
law
(Sec
tion
1312
62 o
f th
e C
ode)
.
Cle
an-u
p ch
ange
.
Cha
nge
mad
e to
ref
lect
the
requ
irem
ent
in G
over
nmen
t Cod
e §
5495
2.6
that
ac
tions
of
a le
gisl
ativ
e bo
dy b
e m
ade
by
a m
ajor
ity o
f th
e m
embe
rs o
f th
at b
ody.
7
Rul
e 3.
22
Com
mun
icat
ions
sha
ll be
tim
e- s
tam
ped
and
shal
l be
dee
med
rec
eive
d by
the
Cle
rk
whe
n pr
esen
ted
to th
e T
rans
port
atio
n A
utho
rity’
s of
fice.
Com
mun
icat
ions
rec
eive
d pr
ior
to t
he p
rintin
g of
the
cal
enda
r ag
enda
sha
ll be
not
ed
on th
e ca
lend
ar a
gend
a fo
r th
e ne
xt f
ollo
win
g B
oard
mee
ting.
Com
mun
icat
ions
re
ceiv
ed
afte
r th
e pr
intin
g of
th
e ca
lend
ar
agen
da
shal
l be
su
mm
ariz
ed b
y th
e C
lerk
at t
he B
oard
mee
ting.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
8
Rul
e 3.
23
*Pos
ting
of t
he C
alen
darA
gend
a. T
he C
lerk
sha
ll po
st t
he c
alen
dar
agen
da a
nd s
end
a co
py o
f th
e ca
lend
ar a
gend
a to
all
pers
ons
know
n or
pre
sum
ed t
o be
inte
rest
ed in
the
pa
rtic
ular
mea
sure
to
be c
onsi
dere
d, a
nd s
uch
notic
e sh
all
be i
nitia
ted
so a
s to
be
reas
onab
ly d
esig
ned
to r
each
not
ifica
nts
not
late
r th
an s
even
ty-t
wo
(72)
hou
rs b
efor
e an
y re
gula
rly
sche
dule
d B
oard
mee
ting
and
twen
ty-f
our
(24)
hou
rs b
efor
e an
y sp
ecia
l m
eetin
g is
sch
edul
ed t
o be
con
side
red
(Sec
tions
594
54.2
, 54
956
of t
he G
over
nmen
t C
ode)
.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
9
Rul
e 3.
26
Any
mem
ber
of t
he p
ublic
is
entit
led
to c
omm
ent
on a
ny m
atte
r on
the
cal
enda
r ag
enda
bef
ore
it is
act
ed o
n by
the
Boa
rd.
In a
dditi
on,
the
last
ite
m a
t ea
ch B
oard
m
eetin
g sh
all p
rovi
de a
n op
port
unity
for
mem
bers
of
the
publ
ic to
dire
ctly
add
ress
the
Boa
rd o
n ite
ms
of in
tere
st t
o th
e pu
blic
whi
ch h
ave
not
been
dis
cuss
ed e
arlie
r in
the
m
eetin
g th
at a
re w
ithin
the
subj
ect m
atte
r ju
risdi
ctio
n of
the
Tra
nspo
rtat
ion
Aut
horit
y.
Mem
bers
of
the
publ
ic m
ay a
ddre
ss t
he B
oard
for
up
to t
hree
(3)
min
utes
or
for
such
nu
mbe
r of
min
utes
as
set
by t
he C
hair.
The
Cha
ir m
ay l
imit
the
tota
l te
stim
ony
to
thirt
y (3
0) m
inut
es (S
ectio
n 54
954.
3 of
the
Gov
ernm
ent C
ode)
.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
9
22
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achm
ent
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os\0
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ge 6
of 2
1
RU
LE
S O
F O
RD
ER
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Rul
e 4.
5 In
add
ition
to
the
regu
lar
mem
bers
of
each
com
mitt
ee, t
he C
hair
shal
l ser
ve o
n ea
ch
com
mitt
ee a
s a
non-
votin
g, e
x-of
ficio
mem
ber,
exce
pt t
hat
the
Cha
ir s
hall
serv
e as
a
votin
g m
embe
r w
hen
his
or h
er p
rese
nce
is n
eces
sary
in o
rder
to
cons
titut
e a
quor
um.
In th
e ca
se o
f a
tie v
ote
in a
ny c
omm
ittee
, the
Cha
ir w
ho is
pre
sent
but
not
act
ing
as a
vo
ting
mem
ber,
may
cas
t th
e de
cidi
ng v
ote.
A m
ajor
ity o
f th
e m
embe
rs o
f th
e co
mm
ittee
sha
ll co
nstit
ute
a qu
orum
for
the
tra
nsac
tion
of b
usin
ess
and
all
offic
ial
acts
of
the
com
mitt
ee s
hall
requ
ire t
he a
ffirm
ativ
e vo
te o
f a
maj
ority
of
the
quor
um
mem
bers
of
the
com
mitt
ee (S
ectio
n 5.
2 if
the
Adm
inis
trat
ive
Cod
e).
Cha
nge
mad
e to
ref
lect
the
requ
irem
ent
in G
over
nmen
t Cod
e §
5495
2.6
that
ac
tions
of
a le
gisl
ativ
e bo
dy b
e m
ade
by
a m
ajor
ity o
f th
e m
embe
rs o
f th
at b
ody.
Gov
ernm
ent C
ode
§ 54
952.
6 pr
ovid
es
as f
ollo
ws:
“A
s us
ed in
this
cha
pter
, ‘a
ctio
n ta
ken’
mea
ns a
col
lect
ive
deci
sion
mad
e by
a m
ajor
ity o
f th
e m
embe
rs o
f a
legi
slat
ive
body
, a
colle
ctiv
e co
mm
itmen
t or
prom
ise
by a
m
ajor
ity o
f th
e m
embe
rs o
f a
legi
slat
ive
body
to m
ake
a po
sitiv
e or
a n
egat
ive
deci
sion
, or
an a
ctua
l vot
e by
a m
ajor
ity
of th
e m
embe
rs o
f a
legi
slat
ive
body
w
hen
sitt
ing
as a
bod
y or
ent
ity, u
pon
a m
otio
n, p
ropo
sal,
reso
lutio
n, o
rder
or
ordi
nanc
e.”
10
Rul
e 4.
8 C
alen
darA
gend
a. P
rior
to p
repa
ratio
n of
a c
alen
dara
gend
a, t
he E
xecu
tive
Dire
ctor
sh
all r
evie
w a
nd f
inal
ize
with
the
com
mitt
ee c
hair
all
mat
ters
to
be c
onsi
dere
d at
the
m
eetin
g.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
11
Rul
e 4.
10
The
Cle
rk m
ay r
ead
abbr
evia
ted
title
s of
mea
sure
on
the
cale
ndar
age
nda
whe
n th
e ab
brev
iate
d w
ordi
ng w
ill c
lear
ly e
xpre
ss to
the
mem
bers
and
to th
e lis
teni
ng p
ublic
the
natu
re o
f th
e m
easu
re.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
11
Rul
e 4.
12
*Mea
sure
s N
ot o
n th
e C
alen
darA
gend
a. B
efor
e co
nsid
erin
g an
ite
m o
f bu
sine
ss n
ot
on t
he c
alen
dara
gend
a, t
he c
omm
ittee
sha
ll ad
opt
a m
otio
n (i)
by
maj
ority
vot
e of
the
fu
ll m
embe
rshi
p of
th
e co
mm
ittee
th
at
an
emer
genc
y ex
ists
, as
de
fined
in
G
over
nmen
t C
ode
Sect
ion
5495
6.5;
or
(ii) b
y th
e tw
o-th
irds
vote
of
its m
embe
rs, o
r if
less
tha
n tw
o-th
irds
of
the
mem
bers
are
pre
sent
, by
a u
nani
mou
s vo
te o
f th
ose
mem
bers
pre
sent
, det
erm
inin
g th
at t
here
is a
nee
d to
tak
e im
med
iate
act
ion
and
that
th
e ne
ed t
o ta
ke a
ctio
n ar
ose
afte
r th
e ca
lend
ar a
gend
a w
as p
oste
d (S
ectio
n 54
954.
2 of
th
e G
over
nmen
t Cod
e).
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
11
Rul
e 4.
20
Eve
ry m
embe
r pr
esen
t w
hen
a m
otio
n is
put
for
th s
hall
vote
for
or
agai
nst
it un
less
pr
ohib
ited
from
vot
ing
by a
pplic
able
law
bec
ause
of
a co
nflic
t of
inte
rest
whi
ch s
hall
be d
iscl
osed
(G
over
nmen
t C
ode
Sect
ion
1090
et
seq.
, G
over
nmen
t C
ode
Sect
ion
8710
0 et
seq
. and
all
othe
r re
leva
nt la
ws
and
regu
latio
ns).
Cle
an-u
p ch
ange
.
12
23
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ent
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Pa
ge 7
of 2
1
RU
LE
S O
F O
RD
ER
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Rul
e 4.
24
*Pos
ting
of C
alen
darA
gend
a. T
he C
lerk
sha
ll po
st t
he c
alen
dar
agen
da a
nd s
end
a co
py o
f th
e ca
lend
ar a
gend
a to
all
pers
ons
know
n or
pre
sum
ed t
o be
inte
rest
ed in
the
pa
rtic
ular
mea
sure
to
be c
onsi
dere
d, a
nd s
uch
notic
e sh
all
be i
nitia
ted
so a
s to
be
reas
onab
ly d
esig
ned
to r
each
not
ifica
nts
not l
ater
than
sev
enty
-tw
o (7
2) h
ours
bef
ore
a re
gula
rly s
ched
uled
com
mitt
ee m
eetin
g or
tw
enty
-fou
r (2
4) h
ours
bef
ore
a sp
ecia
l m
eetin
g is
sch
edul
ed (S
ectio
ns 5
4954
.2, 5
4956
of
the
Gov
ernm
ent C
ode)
.
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
12
Rul
e 4.
25
*Pub
lic C
omm
ent.
Any
mem
ber
of t
he p
ublic
is
entit
led
to c
omm
ent
on a
ny m
atte
r on
th
e ca
lend
ar
agen
da
whi
ch
is
with
in
the
subj
ect
mat
ter
juri
sdic
tion
of
the
Tra
nspo
rtat
ion
Aut
horit
y be
fore
it is
act
ed o
n by
the
com
mitt
ee. I
n ad
ditio
n, t
he la
st
item
at e
ach
com
mitt
ee m
eetin
g pr
ior
to a
djou
rnm
ent s
hall
prov
ide
an o
ppor
tuni
ty f
or
mem
bers
of
the
publ
ic t
o di
rect
ly a
ddre
ss t
he c
omm
ittee
on
item
s of
int
eres
t to
the
pu
blic
whi
ch h
ave
not b
een
disc
usse
d ea
rlier
in th
e m
eetin
g th
at a
re w
ithin
the
subj
ect
mat
ter
juris
dict
ion
of t
he T
rans
port
atio
n A
utho
rity.
Mem
bers
of
the
publ
ic m
ay
addr
ess
the
com
mitt
ee f
or u
p to
thr
ee (
3) m
inut
es o
r fo
r su
ch n
umbe
r of
min
utes
as
set
by t
he c
hair
. T
he c
omm
ittee
cha
ir m
ay l
imit
the
tota
l te
stim
ony
to t
hirt
y (3
0)
min
utes
(Sec
tion
5495
4.3
of G
over
nmen
t Cod
e).
Cle
an-u
p ch
ange
mad
e to
con
form
la
ngua
ge in
the
Rul
es o
f O
rder
to th
e la
ngua
ge u
sed
in th
e B
row
n A
ct a
nd b
y th
e T
rans
port
atio
n A
utho
rity.
12-1
3
Rul
e 5.
1 C
ondu
ct o
f M
embe
rs. N
o m
embe
r in
deb
ate
shal
l, di
rect
ly o
r in
dire
ctly
, by
any
form
of
wor
ds i
mpu
te t
o an
othe
r m
embe
r or
to
othe
r m
embe
rs a
ny c
ondu
ct o
r m
otiv
e un
wor
thy
or u
nbec
omin
g to
a m
embe
r.
Cle
an-u
p ch
ange
.
14
24
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achm
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ge 8
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1
DE
BT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
II.
DE
BT
PO
LIC
Y
OB
JEC
TIV
E
Ach
ieve
the
high
est p
ract
ical
cre
dit r
atin
gsth
at a
lso
allo
w th
e T
rans
port
atio
n A
utho
rity
to m
eet i
ts o
bjec
tives
. T
he T
rans
port
atio
n A
utho
rity
may
hav
e ob
ject
ives
(fin
anci
ng a
larg
e pr
ojec
t)
whi
ch c
ould
impa
ct c
redi
t rat
ing.
1
III.
SC
OP
E A
ND
D
EL
EG
AT
ION
OF
A
UT
HO
RIT
Y
Thi
s D
ebt P
olic
y sh
all g
over
n, e
xcep
t as
othe
rwis
e co
vere
d by
the
Tra
nspo
rtat
ion
Aut
horit
y In
vest
men
t Pol
icy
(a c
opy
of w
hich
is a
ttac
hed
here
to) a
nd th
e T
rans
port
atio
n A
utho
rity
adop
ted
Fis
cal P
olic
y, th
e is
suan
ce a
nd m
anag
emen
t of
all
debt
fun
ded
thro
ugh
the
capi
tal m
arke
ts, i
nclu
ding
the
sele
ctio
n an
d m
anag
emen
t of
rela
ted
finan
cial
and
adv
isor
y se
rvic
es a
nd p
rodu
cts.
Incl
ude
refe
renc
e to
Fis
cal P
olic
y 1
IV.
ET
HIC
S A
ND
C
ON
FL
ICT
S O
F I
NT
ER
EST
O
ffic
ers,
and
em
ploy
ee o
r ag
ents
of
the
Tra
nspo
rtat
ion
Aut
hori
ty in
volv
ed in
the
debt
m
anag
emen
t pro
gram
will
not
eng
age
in a
ny p
erso
nal b
usin
ess
activ
ities
or
inve
stm
ents
that
wou
ld c
onfli
ct w
ith p
rope
r an
d la
wfu
l exe
cutio
n of
the
debt
m
anag
emen
t pro
gram
, or
whi
ch c
ould
impa
ir th
eir
abili
ty to
mak
e im
part
ial d
ecis
ions
.
Con
form
s to
the
Fis
cal P
olic
y.
1
V.
STR
AT
EG
IC P
LA
N
INT
EG
RA
TIO
N
The
Tra
nspo
rtat
ion
Aut
hori
ty’s
mul
ti-ye
ar S
trat
egic
Pla
n (S
trat
egic
Pla
n), w
hich
pr
ogra
ms
the
Pro
posi
tion
K S
ales
Tax
(Pro
p K
) Exp
endi
ture
Pla
n, s
hall
be u
sed
in
com
bina
tion
with
this
Deb
t Pol
icy
and
the
Fis
cal P
olic
y to
ens
ure
prop
er a
lloca
tion
and
finan
cing
of
Pro
p K
elig
ible
pro
ject
s. T
he S
trat
egic
Pla
n se
ts p
rior
ities
and
st
rate
gies
for
allo
catin
g P
rop
K f
unds
und
er it
s gu
idin
g pr
inci
ples
, whi
le th
e D
ebt
Pol
icy
prov
ides
pol
icy
dire
ctio
n an
d lim
itatio
ns f
or p
ropo
sed
finan
cing
and
the
Fis
cal
Pol
icy
prov
ides
gui
danc
e on
dec
isio
ns p
erta
inin
g to
inte
rnal
fis
cal m
anag
emen
t. D
ebt
issu
ance
for
cap
ital p
roje
cts
shal
l not
be
reco
mm
ende
d fo
r B
oard
app
rova
l unl
ess
such
is
suan
ce h
as b
een
inco
rpor
ated
into
the
Stra
tegi
c Pl
an.
Incl
udes
the
Fis
cal P
olic
y.
2
VI.
ST
AN
DA
RD
S F
OR
USE
O
F D
EB
T F
INA
NC
ING
A.
Cre
dit Q
ualit
y.
Cre
dit q
ualit
y is
an
impo
rtan
t con
side
ratio
n an
d w
ill b
e ba
lanc
ed w
ith th
e T
rans
port
atio
n A
utho
rity’
s ob
ject
ives
and
the
asso
ciat
ed th
e si
ze a
nd f
requ
ency
of
issu
ance
s of
deb
t. A
ll T
rans
port
atio
n A
utho
rity
deb
t man
agem
ent a
ctiv
ities
for
new
de
bt is
suan
ces
will
be
cond
ucte
d in
a m
anne
r co
nduc
ive
to r
ecei
ving
the
high
est c
redi
t ra
tings
pos
sibl
e co
nsis
tent
with
the
Tra
nspo
rtat
ion
Aut
hori
ty’s
deb
t man
agem
ent
obje
ctiv
es, a
nd to
mai
ntai
ning
or
impr
ovin
g th
e cu
rren
t cre
dit r
atin
gs a
ssig
ned
to th
e T
rans
port
atio
n A
utho
rity'
s ou
tsta
ndin
g de
bt b
y th
e m
ajor
cre
dit r
atin
g ag
enci
es.
See
Sect
ion
II a
bove
. 2
VI.
ST
AN
DA
RD
S F
OR
USE
O
F D
EB
T F
INA
NC
ING
B.
Lon
g-T
erm
Cap
ital
Pro
ject
s.
The
Tra
nspo
rtat
ion
Aut
hori
ty w
ill is
sue
long
-ter
m d
ebt o
nly
to f
inan
ce a
nd r
efin
ance
lo
ng-t
erm
cap
ital p
roje
cts.
Whe
n th
e T
rans
port
atio
n A
utho
rity
finan
ces
capi
tal
proj
ects
by
issu
ing
bond
s, th
e de
bt r
epay
men
t per
iod
shou
ld n
ot e
xcee
d th
e ea
rlies
t of
the
follo
win
g: (1
) 120
% o
f th
e us
eful
life
of
the
proj
ect b
eing
fin
ance
d, (2
) the
end
of
the
term
of
the
curr
ent s
ales
tax
Exp
endi
ture
Pla
n or
(3) f
orty
(40)
yea
rs f
rom
the
date
of
issu
ance
. Inh
eren
t in
its lo
ng-t
erm
deb
t pol
icie
s, th
e T
rans
port
atio
n A
utho
rity
reco
gniz
es th
at f
utur
e ta
xpay
ers
will
ben
efit
from
the
capi
tal i
nves
tmen
t and
that
it is
ap
prop
riate
that
they
pay
a s
hare
of
the
asse
t cos
t. L
ong-
term
deb
t fin
anci
ng s
hall
not
be u
sed
to f
und
oper
atin
g co
sts
unle
ss s
uch
cost
s qu
alify
as
capi
tal e
xpen
ditu
res
unde
r
Min
or c
lari
fyin
g ch
ange
. 2
25
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1
DE
BT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
fede
ral t
ax p
rinci
ples
.
VI.
ST
AN
DA
RD
S F
OR
USE
O
F D
EB
T F
INA
NC
ING
D.
Ong
oing
Deb
t A
dmin
istr
atio
n an
d In
tern
al
Con
trol
s.
The
Tra
nspo
rtat
ion
Aut
hori
ty s
hall
mai
ntai
n al
l deb
t-re
late
d re
cord
s fo
r a
perio
d fo
r no
less
than
the
term
of
the
debt
. At a
min
imum
, thi
s re
posi
tory
will
incl
ude
all o
ffic
ial
stat
emen
ts, b
id d
ocum
ents
, ord
inan
ces,
inde
ntur
es, t
rust
ee r
epor
ts, c
ontin
uing
di
sclo
sure
rep
orts
, mat
eria
l eve
nts
notic
es, t
ax c
ertif
icat
es, i
nfor
mat
ion
rega
rdin
g th
e in
vest
men
t of
and
proj
ect c
osts
pai
d w
ith b
ond
proc
eeds
, und
erw
rite
r an
d ot
her
agre
emen
ts, e
tc. f
or a
ll T
rans
port
atio
n A
utho
rity
deb
t. T
o th
e ex
tent
that
off
icia
l tr
ansc
ript
s in
corp
orat
e th
ese
docu
men
ts, p
osse
ssio
n of
a tr
ansc
ript w
ill s
uffic
e (t
rans
crip
ts m
ay b
e ha
rd c
opy
or s
tore
d on
CD
-RO
M).
The
Tra
nspo
rtat
ion
Aut
horit
y w
ill d
evel
op a
sta
ndar
d pr
oced
ure
for
arch
ivin
g tr
ansc
ripts
for
any
new
deb
t. T
he
Tra
nspo
rtat
ion
Aut
horit
y w
ill e
stab
lish
inte
rnal
con
trol
s to
ens
ure
com
plia
nce
with
the
Deb
t Pol
icy,
all
debt
cov
enan
ts a
nd a
ny a
pplic
able
req
uire
men
ts o
f ap
plic
able
law
.
Add
ition
of
spec
ific
docu
men
tatio
n re
quire
d fo
r co
mpl
ianc
e w
ith ta
x-ex
empt
bon
d re
quire
men
ts.
2-3
VII
. F
INA
NC
ING
CR
ITE
RIA
A.
Pur
pose
of
Deb
t
1.
New
Mon
ey F
inan
cing
New
mon
ey is
sues
are
fin
anci
ngs
that
gen
erat
e fu
ndin
g fo
r ca
pita
l pro
ject
s. E
ligib
le
capi
tal p
roje
cts
for
allo
catio
n of
Tra
nspo
rtat
ion
Aut
hori
ty f
unds
incl
ude
the
acqu
isiti
on, c
onst
ruct
ion
or m
ajor
reh
abili
tatio
n of
cap
ital a
sset
s. I
n ac
cord
ance
with
th
e ph
iloso
phy
of th
e D
ebt P
olic
y, d
ebt p
roce
eds
gene
rally
may
not
be
used
ex
clus
ivel
y fo
r op
erat
ing
expe
nses
. The
Cap
ital p
roje
ct f
undi
ng r
equi
rem
ents
are
ou
tline
d in
the
annu
al b
udge
t, th
e St
rate
gic
Pla
n an
d th
e E
xpen
ditu
re P
lan.
Cla
rific
atio
n th
at g
ener
ally
deb
t pr
ocee
ds a
re n
ot u
sed
for
oper
atin
g ex
pens
es.
3
VII
. F
INA
NC
ING
CR
ITE
RIA
B.
Typ
es o
f D
ebt
1.
Lon
g-T
erm
Deb
t –
Var
iabl
e R
ate
a)
Var
iable
Rate
Dem
and
Note
s (V
RDBs
) are
long
term
bon
ds w
ith a
fix
ed
prin
cipl
e am
ortiz
atio
n bu
t the
inte
rest
rat
e re
sets
at c
erta
in e
stab
lishe
d pe
riods
suc
h as
dai
ly, w
eekl
y, m
onth
ly, o
r su
ch o
ther
per
iod
as th
e T
rans
port
atio
n A
utho
rity
deem
s ad
visa
ble
give
n cu
rren
t mar
ket
cond
ition
s. V
RD
Bs
ofte
n re
quire
cre
dit e
nhan
cem
ent a
nd th
ird p
arty
liq
uidi
ty in
the
form
s of
Let
ters
or
Lin
es o
f C
redi
t and
/or
bond
in
sura
nce.
VR
DB
s ge
nera
lly a
llow
bon
dhol
ders
to "
put"
thei
r bo
nds
back
to
the
Tra
nspo
rtat
ion
Aut
horit
y on
any
rat
e re
set d
ate,
giv
en c
erta
in
notic
e. T
he T
rans
port
atio
n A
utho
rity
will
nee
d to
ret
ain
an in
vest
men
t ban
k to
rem
arke
t the
se b
onds
that
are
“pu
t.”
Cla
rific
atio
n th
at th
ese
are
usua
lly, b
ut
not a
lway
s, tr
ue.
4
VII
. F
INA
NC
ING
CR
ITE
RIA
B.
Typ
es o
f D
ebt
2.
Shor
t-T
erm
Deb
t
a)
Gra
nt A
ntici
patio
n N
otes (
GA
Ns)
are
shor
t-te
rm n
otes
that
are
rep
aid
with
the
proc
eeds
of
Stat
e or
Fed
eral
gra
nts
of a
ny ty
pe. T
he T
rans
port
atio
n A
utho
rity
shal
l gen
eral
ly is
sue
GA
Ns
only
whe
n th
ere
is n
o ot
her
viab
le
sour
ce o
f fu
ndin
g fo
r th
e pr
ojec
t.
Add
ed m
issi
ng p
erio
d.
5
26
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ent
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21
DE
BT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
VII
I.
TE
RM
S A
ND
C
ON
DIT
ION
S O
F B
ON
DS
A.
Ter
m
All
capi
tal i
mpr
ovem
ents
fin
ance
d th
roug
h th
e is
suan
ce o
f de
bt w
ill b
e fin
ance
d fo
r a
perio
d no
t to
exce
ed 1
20%
of
the
expe
cted
ave
rage
use
ful l
ife o
f th
e as
sets
bei
ng
finan
ced,
and
in n
o ev
ent s
houl
d ex
ceed
the
less
er o
f fo
rty
(40)
yea
rs o
r th
e pe
riod
of
time
until
sun
set o
f th
e cu
rren
t Tra
nspo
rtat
ion
Aut
horit
ysal
es ta
x E
xpen
ditu
re P
lan.
Mak
ing
term
inol
ogy
cons
iste
nt.
6
VII
I.
TE
RM
S A
ND
C
ON
DIT
ION
S O
F B
ON
DS
G.
Orig
inal
Iss
ue D
isco
unt.
An
orig
inal
issu
e di
scou
nt o
r or
igin
al is
sue
prem
ium
will
be
perm
itted
onl
y if
the
Tra
nspo
rtat
ion
Aut
horit
y de
term
ines
that
suc
h di
scou
nt o
r pr
emiu
m r
esul
ts in
a lo
wer
tr
ue in
tere
st c
ost o
n th
e bo
nds
and
that
the
use
of a
n or
igin
al is
sue
disc
ount
or
orig
inal
issu
e pr
emiu
m w
ill n
ot a
dver
sely
aff
ect t
he p
roje
ct id
entif
ied
by th
e bo
nd
docu
men
ts.
Add
ition
of
orig
inal
issu
e pr
emiu
m.
7
IX.
CR
ED
IT
EN
HA
NC
EM
EN
TS
C.
Liq
uidi
ty F
acili
ties
and
Let
ters
of
Cre
dit.
Liq
uidi
ty F
acili
ties
and
Let
ters
of
Cre
dit.
The
Tra
nspo
rtat
ion
Aut
horit
y sh
all h
ave
the
auth
ority
to e
nter
into
liqu
idity
fac
ilitie
s an
d le
tter
-of-
cred
it ag
reem
ents
whe
n su
ch
agre
emen
ts a
re d
eem
ed p
rude
nt a
nd a
dvan
tage
ous.
Onl
y th
ose
finan
cial
inst
itutio
ns
with
sho
rt-t
erm
rat
ings
of
not l
ess
than
VM
IG 1
/P1,
A-1
and
F1,
by
Moo
dy’s
In
vest
or S
ervi
ces,
Sta
ndar
d &
Poo
r’s a
nd F
itch
Rat
ings
, res
pect
ivel
y, a
nd w
ith r
atin
gs
from
at l
east
two
of th
e th
ree
afor
emen
tione
d ra
tings
age
ncie
s m
ay p
artic
ipat
e in
T
rans
port
atio
n A
utho
rity
liqui
dity
fac
ilitie
s an
d le
tter
of
cred
it ag
reem
ents
.
Mod
ified
to p
rovi
de m
ore
flexi
bilit
y.
9
X.
RE
FIN
AN
CIN
G
OU
TST
AN
DIN
G D
EB
T
A.
Deb
t Ser
vice
Sav
ings
.
The
Tra
nspo
rtat
ion
Aut
hori
ty h
as e
stab
lishe
d a
min
imum
pre
sent
val
ue s
avin
gs
thre
shol
d go
al o
f th
ree
(3) p
erce
nt o
f th
e re
fund
ed b
ond
prin
cipa
l am
ount
unl
ess
ther
e ar
e ot
her
com
pelli
ng r
easo
ns f
or d
efea
sanc
e un
dert
akin
g th
e re
fund
ing.
Add
ition
ally
, th
e T
rans
port
atio
n A
utho
rity
has
esta
blis
hed
a m
inim
um p
rese
nt v
alue
sav
ings
th
resh
old
goal
of
five
(5) p
erce
nt o
f the
ref
unde
d bo
nd p
rinc
ipal
am
ount
for
re
finan
cing
s in
volv
ing
deriv
ativ
e pr
oduc
ts s
uch
as th
e is
suan
ce o
f sy
nthe
tic f
ixed
rat
e re
fund
ing
debt
ser
vice
unl
ess
ther
e ar
e ot
her
com
pelli
ng r
easo
ns f
or
defe
asan
ceun
dert
akin
g th
e re
fund
ing.
The
For
this
pur
pose
, the
pre
sent
val
ue s
avin
gs
will
be
net o
f al
l cos
ts r
elat
ed to
the
refin
anci
ng. T
he d
ecis
ion
to ta
ke s
avin
gs o
n an
up
fron
t or
defe
rred
bas
is m
ust b
e ex
plic
itly
appr
oved
by
the
Tra
nspo
rtat
ion
Aut
horit
y B
oard
.
Cla
rify
addr
essi
ng r
efun
ding
not
ne
cess
arily
def
easa
nce.
9
X.
RE
FIN
AN
CIN
G
OU
TST
AN
DIN
G D
EB
T
D.
Esc
row
Str
uctu
ring
.
The
Tra
nspo
rtat
ion
Aut
hori
ty s
hall
utili
ze th
e le
ast c
ostly
sec
uriti
es a
vaila
ble
in
stru
ctur
ing
refu
ndin
g es
crow
s. T
he T
rans
port
atio
n A
utho
rity
will
exa
min
e th
e vi
abili
ty
of a
n ec
onom
ic v
ersu
s le
gal d
efea
sanc
e on
a n
et p
rese
nt v
alue
bas
is. A
cer
tific
ate
from
a
third
par
ty a
gent
, who
is n
ot a
bro
ker-
deal
er, i
s re
quire
d st
atin
g th
at th
e se
curi
ties
wer
e pr
ocur
ed th
roug
h an
arm
s-le
ngth
, com
petit
ive
bid
proc
ess
(in th
e ca
se o
f op
en
mar
ket s
ecur
ities
), th
at s
uch
secu
ritie
s w
ere
mor
e co
st e
ffec
tive
than
Sta
te a
nd L
ocal
G
over
nmen
t Obl
igat
ions
(SL
GS)
, and
that
the
pric
e pa
id f
or th
e se
curi
ties
was
re
ason
able
with
in F
eder
al g
uide
lines
. Suc
h ce
rtifi
cate
sha
ll no
t be
requ
ired
in th
e ca
se
of S
LG
s pu
rcha
sed
dire
ctly
fro
m th
e U
.S. T
reas
ury.
Und
er n
o ci
rcum
stan
ces
shal
l an
unde
rwrit
er, a
gent
or
finan
cial
adv
isor
sel
l esc
row
sec
uriti
es to
the
Tra
nspo
rtat
ion
Cla
rify
cert
ifica
te n
ot r
equi
red
if pu
rcha
sing
SL
Gs
from
U.S
. Tre
asur
y.
10
27
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DE
BT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Aut
horit
y fr
om it
s ow
n ac
coun
t.
XII
. M
AR
KE
T
RE
LA
TIO
NSH
IPS
E.
Oth
er J
uris
dict
ions
.
Fro
m ti
me
to ti
me,
the
Tra
nspo
rtat
ion
Aut
horit
y m
ay is
sue
bond
s on
beh
alf
of o
ther
pu
blic
ent
ities
. Whi
le th
e T
rans
port
atio
n A
utho
rity
will
mak
e ev
ery
effo
rt to
fac
ilita
te
the
desi
res
of th
ese
entit
ies,
the
Exe
cutiv
e D
irect
or w
ill ta
ke a
ll re
ason
able
ste
ps to
en
sure
that
onl
y th
e hi
ghes
t qua
lity
finan
cing
s ar
e do
ne a
nd th
at th
e T
rans
port
atio
n A
utho
rity
is in
sula
ted
from
all
risks
. The
Tra
nspo
rtat
ion
Aut
horit
y sh
all r
equi
re th
at a
ll co
ndui
t fin
anci
ngs
achi
eve
a ra
ting
at le
ast e
qual
to th
e T
rans
port
atio
n A
utho
rity
’s
ratin
gs o
r th
at th
e cr
edit
enha
ncem
ent i
s ob
tain
ed(in
clud
ing,
whe
re n
eces
sary
, thr
ough
th
e us
e of
cre
dit e
nhan
cem
ent)
.
Min
or c
larif
icat
ion.
12
GL
OSS
AR
Y
Arb
itrag
e. T
he d
iffer
ence
bet
wee
n th
e in
tere
st p
aid
on th
e a
n is
sue
of ta
x ex
empt
se
curit
ies
deb
t and
the
inte
rest
ear
ned
by in
vest
ing
the
secu
rity
deb
t pro
ceed
s in
hi
gher
-yie
ldin
g ta
xabl
e se
curit
ies.
IR
S re
gula
tions
gov
ern
arbi
trag
e ea
rned
pur
suan
t to
the
inve
stm
ent o
f on
the
proc
eeds
fro
m is
suan
ce o
f ta
x-ex
empt
mun
icip
al s
ecur
ities
.
Ballo
on M
atur
ity.
A la
ter
mat
urity
with
in a
n is
sue
of b
onds
that
con
tain
s a
disp
ropo
rtio
nate
ly la
rge
perc
enta
ge o
f th
e pr
inci
pal a
mou
nt o
f th
e or
igin
al is
sue.
Orig
inal
Issue
Prem
ium.
The
am
ount
by
whi
ch th
e pu
blic
off
erin
g pr
ice
of a
n is
sue
exce
eds
its o
rigin
al p
aram
ount
at t
he ti
me
it is
orig
inal
ly o
ffer
ed to
an
inve
stor
.
Sales
Tax
and
Reve
nue A
ntici
patio
n N
otes (
TRA
Ns)
Shor
t-te
rm n
otes
issu
ed b
y a
gove
rnm
ent u
nit,
usua
lly f
or o
pera
ting
purp
oses
, whi
ch a
re p
aid
from
the
proc
eeds
of
sale
s ta
x or
oth
er a
ntic
ipat
ed r
even
ue s
ourc
es.
Min
or c
lari
fyin
g ch
ange
s. C
hang
es to
“A
rbitr
age”
to m
ore
clos
ely
trac
k ta
x re
quire
men
ts.
Add
ition
of
“Orig
inal
Is
sue
Pre
miu
m”
defin
ition
to
acco
mpa
ny th
e ch
ange
s m
ade
to th
e bo
dy o
f th
e do
cum
ent.
16-1
8
28
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21
FIS
CA
L P
OL
ICY
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
II.
SCO
PE O
F A
UT
HO
RIT
Y
The
Fis
cal P
olic
y ap
plie
s on
ly to
the
oper
atio
ns o
f th
e T
rans
port
atio
n A
utho
rity
and
is n
ot a
pplic
able
to th
e op
erat
ions
of a
ny p
roje
ct s
pons
orin
g ag
enci
es o
f th
e T
rans
port
atio
n A
utho
rity,
unl
ess
spec
ifica
lly p
rovi
ded.
The
Fis
cal P
olic
y is
sep
arat
e fr
om, b
ut s
houl
d be
app
lied
in c
onju
nctio
n w
ith, t
he T
rans
port
atio
n A
utho
rity’
s St
rate
gic
Pla
n, D
ebt a
nd I
nves
tmen
t Pol
icie
s. O
vera
ll po
licy
dire
ctio
n sh
all b
e th
e re
spon
sibi
lity
of th
e T
rans
port
atio
n A
utho
rity
Boa
rd (t
he “
Boa
rd”)
. Res
pons
ibili
ty f
or
impl
emen
tatio
n of
the
Pol
icy,
and
day
-to-
day
resp
onsi
bilit
y an
d au
thor
ity f
or
stru
ctur
ing,
impl
emen
ting,
and
man
agin
g th
e T
rans
port
atio
n A
utho
rity
’s p
olic
ies,
go
als,
and
obj
ectiv
es, s
hall
lie w
ith th
e T
rans
port
atio
n A
utho
rity
Exe
cutiv
e D
irec
tor
(the
“E
xecu
tive
Dire
ctor
”). T
his
Pol
icy
will
be
revi
ewed
and
upd
ated
as
requ
ired
or
deem
ed a
dvis
able
at l
east
onc
e ev
ery
thre
e ye
ars.
Any
cha
nges
to th
e po
licy
are
subj
ect t
o ap
prov
al b
y th
e B
oard
at a
pub
lic m
eetin
g.
Cla
rific
atio
n of
def
ined
term
s.
1
III.
A
NN
UA
L B
UD
GE
T
PR
OC
ESS
T
he T
rans
port
atio
n A
utho
rity
Boa
rd s
hall
adop
t an
Ann
ual B
udge
t by
the
begi
nnin
g of
eac
h fis
cal y
ear.
The
pur
pose
of
the
Ann
ual B
udge
t is
to p
rovi
de m
anag
emen
t gu
idan
ce a
nd c
ontr
ol o
ver
disb
urse
men
t of
Tra
nspo
rtat
ion
Aut
horit
y’s
reve
nues
in
acco
rdan
ce w
ith th
e go
als
and
obje
ctiv
es a
s de
term
ined
by
the
Boa
rd a
nd a
s se
t for
th
in o
ther
pol
icie
s in
clud
ing,
but
not
lim
ited
to, t
he T
rans
port
atio
n A
utho
rity’
s in
vest
men
t, de
bt, p
rocu
rem
ent a
nd d
isad
vant
aged
bus
ines
s en
terp
rise
pol
icie
s. T
he
Tra
nspo
rtat
ion
Aut
horit
y’s
fisca
l yea
r ex
tend
s fr
om J
uly
1 of
eac
h ca
lend
ar y
ear
thro
ugh
June
30
of th
e fo
llow
ing
cale
ndar
yea
r. T
he s
ectio
ns b
elow
fur
ther
def
ine
the
proc
ess
invo
lved
in th
e de
velo
pmen
t of
the
final
bud
get.
Mak
ing
use
of te
rmin
olog
y co
nsis
tent
. 1
III.
A
NN
UA
L B
UD
GE
T
PR
OC
ESS
B.
Pub
lic R
evie
w o
f D
raft
B
udge
t
The
dra
ft b
udge
t sha
ll be
pre
sent
ed a
t a p
ublic
hea
ringi
s su
bjec
t to
publ
ic
cons
ider
atio
n in
the
form
of
a pu
blic
hea
ring
at a
pub
licly
not
iced
Tra
nspo
rtat
ion
Aut
horit
y m
eetin
g pr
ior
to b
eing
app
rove
d by
the
Boa
rd. N
otic
e of
the
time
and
plac
e of
the
publ
ic m
eetin
g sh
all b
e pu
blis
hed
purs
uant
to S
ectio
n 60
61 o
f th
e C
alifo
rnia
Gov
ernm
ent C
ode
no la
ter
than
the
15th
day
pri
or to
the
day
of th
e he
arin
g, a
nd th
e dr
aft b
udge
t sha
ll be
ava
ilabl
e fo
r pu
blic
insp
ectio
n at
leas
t 15
days
pr
ior
to th
e he
arin
g.
Cla
rifyi
ng la
ngua
ge to
avo
id im
plic
atio
n th
at p
ublic
hav
e an
y ki
nd o
f ap
prov
al
righ
t.
2
IV.
BU
DG
ET
R
EQ
UIR
EM
EN
TS
A.
Adm
inis
trat
ive
Ope
ratin
g E
xpen
ses
Adm
inis
trat
ive
oper
atin
g ex
pens
es in
clud
e al
l exp
ense
s re
late
d to
the
oper
atio
ns a
nd
mai
nten
ance
of
the
Tra
nspo
rtat
ion
Aut
hori
ty, i
nclu
ding
, am
ong
othe
rs, o
ther
rel
ated
ex
pens
es s
uch
as s
taff
sal
arie
s, s
taff
ben
efits
, off
ice
leas
e co
sts,
equ
ipm
ent r
enta
l, su
pplie
s, a
nd tr
avel
. Spe
cific
req
uire
men
ts w
ith r
espe
ct to
cer
tain
bud
gete
d ex
pens
es
are
set f
orth
bel
ow.
Cla
rify
ing
that
thes
e ar
e no
t all
of th
e ex
pens
es.
2
IV.
BU
DG
ET
R
EQ
UIR
EM
EN
TS
A.
Adm
inis
trat
ive
Ope
ratin
g E
xpen
ses
2.
Em
erge
ncy
Exp
endi
ture
s
The
Exe
cutiv
e D
irec
tor
is a
utho
rize
d to
exc
eed
the
over
all a
dmin
istr
ativ
e op
erat
ing
expe
nse
line
item
s by
up
to s
even
ty-f
ive
thou
sand
dol
lars
($75
,000
), fo
r th
e ac
tual
co
st o
f em
erge
ncy
expe
nditu
res
that
are
mad
e to
pro
tect
the
heal
th, s
afet
y, a
nd
wel
fare
of
the
agen
cy o
r th
e pu
blic
, or
to r
epai
r/re
stor
e da
mag
ed/d
estr
oyed
pro
pert
y fo
r th
e T
rans
port
atio
n A
utho
rity.
The
Exe
cutiv
e D
irect
or s
hall
subm
it a
repo
rt to
the
Fin
ance
Com
mitt
ee w
ithin
thirt
y (3
0) d
ays
of th
e em
erge
ncy
expl
aini
ng th
e ne
cess
ity
Mak
ing
term
inol
ogy
cons
iste
nt.
3
29
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21
FIS
CA
L P
OL
ICY
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
of th
e ac
tion,
a li
stin
g of
exp
endi
ture
s, a
nd f
utur
e re
com
men
ded
actio
ns.
IV.
BU
DG
ET
R
EQ
UIR
EM
EN
TS
A.
Adm
inis
trat
ive
Ope
ratin
g E
xpen
ses
3.
Pet
ty C
ash
A p
etty
cas
h re
volv
ing
acco
unt i
n th
e am
ount
of
one
thou
sand
dol
lars
($1,
000)
may
be
est
ablis
hed
and
mai
ntai
ned
by th
e E
xecu
tive
Dire
ctor
for
the
purp
oses
of
payi
ng
mis
cella
neou
s ex
pens
es o
f th
e T
rans
port
atio
n A
utho
rity.
Ind
ivid
ual e
xpen
ditu
res
shal
l m
ay n
ot e
xcee
d tw
o hu
ndre
d an
d fif
ty d
olla
rs ($
250)
. Suc
h m
isce
llane
ous
expe
nses
in
clud
e bu
t not
be
limite
d to
, out
side
pho
toco
pyin
g ex
pens
es, o
ffic
e su
pplie
s, m
eetin
g an
d tr
avel
exp
ense
s, a
nd o
ther
pra
ctic
al e
xpen
ses
as d
eter
min
ed b
y th
e E
xecu
tive
Dir
ecto
r to
be
nece
ssar
y an
d co
nven
ient
for
pro
per
adm
inis
trat
ion.
The
Exe
cutiv
e D
irec
tor
is a
utho
rize
d fr
om ti
me
to ti
me
to s
eek
reim
burs
emen
t of
this
acc
ount
to th
e m
axim
um b
alan
ce b
y al
loca
tion
from
the
oper
atin
g bu
dget
.
Cla
rify
ing
that
thes
e ar
e no
t req
uire
d to
be
pai
d fr
om p
etty
cas
h.
3
VI.
D
EB
T I
SSU
AN
CE
As
defin
ed b
y th
e T
rans
port
atio
n A
utho
rity
’s A
dmin
istr
ativ
e C
ode
and
its D
ebt
Pol
icy,
the
Fin
ance
Com
mitt
ee s
hall
be r
espo
nsib
le f
or o
vers
ight
of
the
debt
issu
ance
pr
ogra
m f
or th
e T
rans
port
atio
n A
utho
rity
. Ple
ase
refe
r to
the
curr
ent v
ersi
on o
f th
e D
ebt P
olic
y m
aint
aine
d by
the
Tra
nspo
rtat
ion
Aut
horit
y, f
or th
e de
bt is
suan
ce
prog
ram
gui
delin
es r
egar
ding
the
issu
ance
and
man
agem
ent o
f de
bt f
or f
inan
cing
el
igib
le p
rogr
ams
and
proj
ects
.
Elim
inat
ing
redu
ndan
cy.
4
IX.
PRO
CU
RE
ME
NT
OF
GO
OD
S A
ND
SE
RV
ICE
S
The
sel
ectio
n of
pro
fess
iona
l ser
vice
s, o
f su
ch a
s le
gal,
finan
cial
adv
isor
y, p
riva
te
arch
itect
ural
, lan
dsca
pe a
rchi
tect
ural
, eng
inee
ring,
env
ironm
enta
l, la
nd s
urve
ying
, or
cons
truc
tion
proj
ect m
anag
emen
t fir
ms,
sha
ll be
on
the
basi
s of
dem
onst
rate
d co
mpe
tenc
e an
d on
the
prof
essi
onal
qua
lific
atio
ns n
eces
sary
for
the
satis
fact
ory
perf
orm
ance
of
the
serv
ices
req
uire
d in
acc
orda
nce
with
the
Tra
nspo
rtat
ion
Aut
horit
y’s
Proc
urem
ent P
olic
y.
Cla
rific
atio
n.
5
IX.
PRO
CU
RE
ME
NT
OF
GO
OD
S A
ND
SE
RV
ICE
S
C.
CO
NT
RA
CT
S
App
rova
l of
the
Boa
rd is
req
uire
d pr
ior
to th
e ex
ecut
ion
of a
ny c
ontr
act f
or th
e pr
ocur
emen
t of
good
s or
pro
fess
iona
l ser
vice
s th
at a
utho
rize
s pa
ymen
ts th
at in
the
aggr
egat
e ex
ceed
sev
enty
-fiv
e th
ousa
nd d
olla
rs ($
75,0
00) i
n a
fisca
l yea
r. T
he
Exe
cutiv
e D
irect
or is
aut
hori
zed
to a
ppro
ve a
nd e
xecu
te a
ll su
ch c
ontr
acts
that
au
thor
ize
paym
ents
not
in e
xces
s of
$75
,000
per
fis
cal y
ear,
prov
ided
that
the
amou
nts
are
cons
iste
nt w
ithw
ere
iden
tifie
d an
d in
clud
ed in
the
adop
ted
final
bud
get,
as a
men
ded
in a
ccor
danc
e w
ith th
is P
olic
y fo
r th
e cu
rren
t fis
cal y
ear
or, i
n th
e ev
ent
that
the
cont
ract
was
not
com
plet
ed in
a s
ingl
e fis
cal y
ear,
the
cont
iguo
us f
isca
l ye
ar(s
). T
he E
xecu
tive
Dire
ctor
is a
utho
rize
d to
am
end
cont
ract
s to
ext
end
time,
to
add
or d
elet
e ta
sks
of s
imila
r sc
ope
and
natu
re, a
nd to
incr
ease
or
redu
ce th
e to
tal
amou
nt o
f th
e co
ntra
ct. T
he E
xecu
tive
Dire
ctor
may
exe
cute
suc
h am
endm
ents
w
ithou
t pri
or B
oard
app
rova
l, if
the
amou
nt o
f th
e am
endm
ent d
oes
not e
xcee
d $7
5,00
0 an
d so
long
as
the
amen
dmen
t is
cons
iste
nt w
ith th
e ad
opte
d fin
al b
udge
t.
Cla
rific
atio
ns.
5-6
30
![Page 31: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/31.jpg)
Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 1
4 of
21
INV
EST
ME
NT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
I.
INT
RO
DU
CT
ION
T
he p
urpo
se o
f th
is d
ocum
ent i
s to
set
out
pol
icie
s an
d pr
oced
ures
that
enh
ance
op
port
uniti
es f
or a
pru
dent
and
sys
tem
atic
inve
stm
ent p
olic
y an
d to
org
aniz
e an
d fo
rmal
ize
inve
stm
ent-
rela
ted
activ
ities
proc
edur
es.
The
inve
stm
ent p
olic
ies
and
prac
tices
pro
cedu
res
of th
e Sa
n F
ranc
isco
Cou
nty
Tra
nspo
rtat
ion
Aut
horit
y (t
he T
rans
port
atio
n A
utho
rity)
are
, in
ever
y ca
se, s
ubje
ct to
an
d lim
ited
by a
pplic
able
pro
visi
ons
of s
tate
law
and
to p
rude
nt m
oney
man
agem
ent
prin
cipl
es. A
ll fu
nds
will
be
inve
sted
in a
ccor
danc
e w
ith th
e T
rans
port
atio
n A
utho
rity’
s In
vest
men
t Pol
icy,
and
app
licab
le p
rovi
sion
s of
Cha
pter
4 o
f P
art 1
of
Div
isio
n 2
of T
itle
5 of
the
Cal
iforn
ia G
over
nmen
t Cod
e (S
ectio
n 53
600
et s
eq.).
The
in
vest
men
t of
bond
pro
ceed
s w
ill b
e fu
rthe
r re
stric
ted
by th
e pr
ovis
ions
of
rele
vant
bo
nd d
ocum
ents
.
Mak
ing
use
of te
rmin
olog
y co
nsis
tent
. 1
VI.
E
TH
ICS
AN
D
CO
NF
LIC
T O
F I
NT
ER
EST
O
ffic
ers,
an
d em
ploy
ees
and
agen
ts o
f th
e T
rans
port
atio
n A
utho
rity
invo
lved
in t
he
inve
stm
ent
proc
ess
will
not
eng
age
in a
ny p
erso
nal
busi
ness
act
iviti
es t
hat
coul
d co
nflic
t w
ith p
rope
r an
d la
wfu
l exe
cutio
n of
the
inve
stm
ent
prog
ram
, or
whi
ch c
ould
im
pair
thei
r ab
ility
to m
ake
impa
rtia
l dec
isio
ns.
Con
form
s to
the
Fis
cal P
olic
y.
2
IX.
PE
RM
ITT
ED
IN
VE
STM
EN
T I
NST
RU
ME
NT
S P
erce
ntag
e lim
itatio
ns, w
here
indi
cate
d, a
pply
at t
he ti
me
of p
urch
ase.
Rat
ing
requ
irem
ents
whe
re in
dica
ted,
app
ly a
t the
tim
e of
pur
chas
e. I
n th
e ev
ent a
sec
urity
he
ld b
y th
e T
rans
port
atio
n A
utho
rity
is s
ubje
ct to
a r
atin
g ch
ange
that
brin
gs it
bel
ow
the
min
imum
spe
cifie
d ra
ting
requ
irem
ent,
the
Exe
cutiv
e D
irect
or w
ill n
otify
the
Boa
rd o
f th
e ch
ange
. The
cou
rse
of a
ctio
n to
be
follo
wed
will
then
be
deci
ded
on a
ca
se-b
y-ca
se b
asis
, con
side
ring
suc
h fa
ctor
s as
the
reas
on f
or th
e ra
te d
ropr
atin
g re
duct
ion,
pro
gnos
is f
or r
ecov
ery
or f
urth
er r
ate
drop
srat
ing
redu
ctio
ns a
nd th
e cu
rren
t mar
ket p
rice
of th
e se
curi
ty.
5. R
egis
tere
d tr
easu
ry n
otes
or
bond
s of
any
of
the
othe
r 49
Uni
ted
Stat
es in
add
ition
to
Cal
iforn
ia, i
nclu
ding
bon
ds p
ayab
le s
olel
y ou
t of
the
reve
nues
fro
m a
rev
enue
-pr
oduc
ing
prop
erty
ow
ned,
con
trol
led,
or
oper
ated
by
a st
ate
or b
y a
depa
rtm
ent,
boar
d, a
genc
y, o
r au
thor
ity o
f an
y of
the
othe
r 49
Uni
ted
Stat
es, i
n ad
ditio
n to
C
alifo
rnia
, pro
vide
d th
at th
e ob
ligat
ions
are
rat
ed in
one
of
the
two
high
est
cate
gori
es b
y a
natio
nally
rec
ogni
zed
stat
istic
al-r
atin
g or
gani
zatio
n (N
RSR
O).
The
re is
no
limita
tion
as to
the
perc
enta
ge o
f th
e po
rtfo
lio th
at m
ay b
e in
vest
ed
in th
is c
ateg
ory.
7.
Com
mer
cial
pap
er o
f “p
rim
e” q
ualit
y ra
ted
the
high
est r
anki
ng o
r of
the
high
est
lett
er o
r nu
mbe
r ra
ting
as p
rovi
ded
by a
NR
SRO
. The
ent
ity th
at is
sues
the
com
mer
cial
pap
er w
ill m
eet a
ll of
the
crit
eria
in e
ither
(1) o
r (2
) as
follo
ws:
(1) t
he
corp
orat
ion
will
be
orga
nize
d an
d op
erat
ing
with
in th
e U
nite
d St
ates
as
a ge
nera
l co
rpor
atio
n, w
ill h
ave
asse
ts in
exc
ess
of f
ive
hund
red
mill
ion
dolla
rs
($50
0,00
0,00
0), a
nd w
ill is
sue
debt
, oth
er th
an c
omm
erci
al p
aper
, if
any,
that
is
Cla
rify
ing
refe
renc
es
to
ratin
g re
duct
ions
.
Cha
ngin
g se
mic
olon
to
co
mm
a in
5 t
o re
flect
tha
t re
fere
nce
is
to
prop
erty
ow
ned
by
a st
ate,
de
part
men
t, bo
ard,
age
ncy
or a
utho
rity
of
anot
her
stat
e.
A
ddin
g m
issi
ng
lang
uage
to
7
to
trac
k G
ovt
Cod
e 53
601.
3-4
31
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Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 1
5 of
21
INV
EST
ME
NT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
rate
d “A
” or
hig
her
by a
NR
SRO
; or
(2) t
he c
orpo
ratio
n w
ill b
e or
gani
zed
with
in
the
Uni
ted
Stat
es a
s a
spec
ial p
urpo
se c
orpo
ratio
n, tr
ust,
or li
mite
d lia
bilit
y co
mpa
ny, h
as p
rogr
am w
ide
cred
it en
hanc
emen
ts in
clud
ing,
but
not
lim
ited
to,
over
col
late
raliz
atio
ns, l
ette
rs o
f cr
edit,
or
sure
ty b
ond;
has
com
mer
cial
pap
er th
at
is r
ated
“A
-1”
or h
ighe
r, or
equ
ival
ent b
y a
NR
SRO
. Elig
ible
com
mer
cial
pap
er
may
not
exc
eed
270
days
’ mat
urity
nor
rep
rese
nt m
ore
than
10%
of
the
outs
tand
ing
pape
r of
an
issu
ing
corp
orat
ion,
or
25%
of
the
Tra
nspo
rtat
ion
Aut
horit
y’s
port
folio
.
32
![Page 33: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/33.jpg)
Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 1
6 of
21
PR
OC
UR
EM
EN
T P
OL
ICY
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
Sect
ion
III.
A.
All
bids
or
prop
osal
s m
ust
be s
ubm
itted
to
and
rece
ived
to
at t
he lo
catio
n de
sign
ated
no
late
r th
an t
he e
xact
tim
e an
d da
te s
tate
d in
bid
or
prop
osal
req
uire
men
ts, a
nd m
ust
be d
ate-
and
-tim
e- s
tam
ped
and
logg
ed a
s re
ceiv
ed b
y T
rans
port
atio
n A
utho
rity
pe
rson
nel.
Bid
s or
pro
posa
ls r
ecei
ved
afte
r th
e da
te a
nd t
ime
dead
line
will
be
retu
rned
un
open
ed a
nd w
ill b
e co
nsid
ered
as
disq
ualif
ied.
A b
id o
r pr
opos
al m
ay b
e w
ithdr
awn
prio
r to
bid
or
prop
osal
ope
ning
for
any
rea
son
by a
bid
der
or h
is/h
er a
utho
rized
re
pres
enta
tive,
pr
ovid
ed
a w
ritt
en
requ
est
to
with
draw
is
re
ceiv
ed
by
the
Tra
nspo
rtat
ion
Aut
hori
ty p
rior
to b
id o
r pr
opos
al o
peni
ng.
Aft
er b
id o
r pr
opos
al
open
ing,
a b
id o
r pr
opos
al m
ay b
e w
ithdr
awn
only
for
mat
eria
l ob
viou
s er
ror(
s) a
nd
subj
ect t
o th
e w
ritt
en a
ppro
val b
y th
e E
xecu
tive
Dire
ctor
.
Cle
an-u
p ch
ange
. 2
Sect
ion
III.
C.
Aw
ards
of
cont
ract
s fo
r pr
ofes
sion
al s
ervi
ces,
incl
udin
g le
gal,
finan
cial
adv
isor
y,
priv
ate
arch
itect
ural
, lan
dsca
pe a
rchi
tect
ural
, eng
inee
ring
, env
ironm
enta
l, la
nd
surv
eyin
g, o
r co
nstr
uctio
n pr
ojec
t man
agem
ent f
irms
shal
l be
on th
e ba
sis
of
dem
onst
rate
d co
mpe
tenc
e an
d on
the
prof
essi
onal
qua
lific
atio
ns n
eces
sary
for
the
satis
fact
ory
perf
orm
ance
of
the
serv
ices
req
uire
d, a
nd a
t a p
rice
that
is f
air
and
reas
onab
le, i
n ac
cord
ance
with
sta
te a
nd f
eder
al la
ws.
Cla
rific
atio
n.
3
Sect
ion
V.
It s
hall
be t
he p
olic
y of
the
Tra
nspo
rtat
ion
Aut
horit
y to
hav
e es
tabl
ishe
d pr
otes
t pr
oced
ures
whi
ch s
hall
appl
y to
all
proc
urem
ents
of
supp
lies,
equ
ipm
ent,
and
serv
ices
. A
cop
y of
the
se p
olic
ies
and
proc
edur
es s
hall
be m
aint
aine
d in
the
Tra
nspo
rtat
ion
Aut
horit
y’s
offic
es f
or g
ener
al i
nspe
ctio
n an
d re
view
by
the
publ
ic.
In a
dditi
on,
the
Tra
nspo
rtat
ion
Aut
horit
y sh
all p
rovi
de, u
pon
requ
est,
a co
py o
f th
ese
prot
est
polic
ies
and
proc
edur
es t
o al
l in
divi
dual
s, a
ssoc
iatio
ns,
corp
orat
ions
, an
d co
mpa
nies
with
w
hich
the
Tra
nspo
rtat
ion
Aut
horit
y co
nduc
ts b
usin
ess.
Cle
an-u
p ch
ange
. 5
Sect
ion
V.5
1.
A
cle
ar a
nd c
onci
se s
tate
men
t of
the
prot
est,
incl
udin
g id
entif
icat
ion
of:
a)
proc
edur
es o
r sp
ecifi
catio
ns c
onta
ined
in
bid
docu
men
ts o
r re
ques
t fo
r pr
opos
als
whi
ch w
ere
alle
gedl
y no
t com
plie
d w
ith, o
r
b)
spec
ific
inst
ance
(s)
of T
rans
port
atio
n A
utho
rity
fai
lure
to
follo
w i
ts
polic
y po
licie
s an
d pr
oced
ures
;
Cle
an-u
p ch
ange
. 6
Sect
ion
VI.
N
o co
ntra
ctua
l ob
ligat
ions
, ad
min
istr
ativ
e or
ca
pita
l, sh
all
be
assu
med
by
th
e T
rans
port
atio
n A
utho
rity
in t
he e
xces
s of
its
abili
ty t
o pa
y as
def
ined
by
the
adop
ted
final
bud
get
and
the
Stra
tegi
c P
lan.
App
rova
l of
the
Boa
rd i
s re
quire
d pr
ior
to t
he
exec
utio
n of
any
con
trac
t fo
r th
e pr
ocur
emen
t of
goo
ds o
r pr
ofes
sion
al s
ervi
ces
that
au
thor
izes
pa
ymen
ts
that
in
th
e ag
greg
ate
exce
ed
seve
nty
five
thou
sand
do
llars
($
75,0
00) i
n a
fisca
l yea
r. T
he E
xecu
tive
Dire
ctor
is a
utho
rized
to a
ppro
ve a
nd e
xecu
te
all
such
con
trac
ts t
hat
auth
oriz
e pa
ymen
ts n
ot i
n ex
cess
of
$75,
000
per
fisca
l ye
ar,
prov
ided
tha
t th
e am
ount
s ar
e co
nsis
tent
with
wer
e id
entif
ied
and
incl
uded
in a
n th
e ad
opte
d fin
al b
udge
t, as
am
ende
d in
acc
orda
nce
with
Tra
nspo
rtat
ion
Aut
hori
ty t
he
Fis
cal
Pol
icy
for
the
curr
ent
fisca
l ye
ar o
r, in
the
eve
nt t
hat
the
cont
ract
was
not
Cle
an-u
p an
d st
ream
linin
g ch
ange
s 7
33
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achm
ent
1
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Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
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licie
s M
atri
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cx
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ge 1
7 of
21
PR
OC
UR
EM
EN
T P
OL
ICY
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
com
plet
ed in
a s
ingl
e fis
cal y
ear,
the
cont
iguo
us f
isca
l yea
r(s)
. The
Exe
cutiv
e D
irect
or
is a
utho
rize
d to
am
end
cont
ract
s to
ext
end
time,
to
add
or d
elet
e ta
sks
of s
imila
r sc
ope
and
natu
re,
and
to i
ncre
ase
or r
educ
e th
e to
tal
amou
nt o
f th
e co
ntra
ct.
The
E
xecu
tive
Dire
ctor
may
exe
cute
suc
h am
endm
ents
with
out
prio
r B
oard
app
rova
l, if
the
amou
nt o
f th
e am
endm
ent d
oes
not e
xcee
d $7
5,00
0.
All
expe
nditu
res
shal
l co
mpl
y w
ith a
ll fe
dera
l, st
ate
and
loca
l st
atut
ory
requ
irem
ents
an
d ot
her
lega
l re
stri
ctio
ns p
lace
d on
the
use
of
said
fun
ds.
The
Exe
cutiv
e D
irec
tor
shal
l exe
cute
all
cont
ract
s in
con
form
ance
with
the
mon
etar
y lim
its e
stab
lishe
d in
the
ad
opte
d fin
al
budg
et.
The
E
xecu
tive
Dire
ctor
an
d/or
hi
s/he
r de
sign
ee
has
the
resp
onsi
bilit
y fo
r m
onito
ring
all c
ontr
actu
al a
gree
men
ts f
or c
ompl
ianc
e w
ith th
e te
rms
and
cond
ition
s es
tabl
ishe
d in
th
e co
ntra
ct
and
for
rend
erin
g pa
ymen
t up
on
com
plet
ion
of s
ervi
ces
or d
eliv
ery
of g
oods
and
mat
eria
ls a
s ag
reed
.
34
![Page 35: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/35.jpg)
Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 1
8 of
21
TR
AV
EL
, CO
NF
ER
EN
CE
, TR
AIN
ING
AN
D B
USI
NE
SS E
XP
EN
SE R
EIM
BU
RSE
ME
NT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
I.
PU
RP
OSE
AN
D
GE
NE
RA
L P
OL
ICY
A. P
urpo
se. T
his
docu
men
t es
tabl
ishe
s a
set
of p
olic
ies
rela
ting
to t
rave
l, co
nfer
ence
, tr
aini
ng a
nd b
usin
ess
expe
nses
, an
d es
tabl
ishe
s pr
oced
ures
for
rei
mbu
rsem
ent
of
elig
ible
San
Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
(Tra
nspo
rtat
ion
Aut
horit
y)
cCom
mis
sion
ers
and
empl
oyee
s,
here
in
refe
rred
to
as
T
rans
port
atio
n A
utho
rity
pers
onne
l, fo
r su
ch e
xpen
ses.
The
se r
ules
and
gui
delin
es a
re d
esig
ned
to s
afeg
uard
pu
blic
fun
ds a
nd t
o in
sure
ens
ure
the
San
Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
(Aut
hori
ty)
and
its p
erso
nnel
are
usi
ng t
he m
ost
econ
omic
al a
nd w
ell-d
ocum
ente
d pr
oced
ures
in a
con
sist
ent m
anne
r. B
. Gen
eral
Pol
icy.
The
Tra
nspo
rtat
ion
Aut
hori
ty r
ecog
nize
s th
at in
som
e in
stan
ces
it is
nec
essa
ry a
nd/o
r co
nven
ient
for
aut
hori
zed
Tra
nspo
rtat
ion
Aut
hori
ty p
erso
nnel
to
expe
nd s
ums
and
incu
r ex
pens
es f
or t
rave
l, tr
aini
ng a
nd o
ther
bus
ines
s pu
rpos
es i
n co
nnec
tion
with
the
off
icia
l bu
sine
ss o
f th
e T
rans
port
atio
n A
utho
rity.
Add
ition
ally
, th
e T
rans
port
atio
n A
utho
rity
reco
gniz
es
the
bene
fit
of
atte
ndan
ce
at
mee
tings
, co
nfer
ence
s an
d ot
her
func
tions
whi
ch a
dvan
ce p
rofe
ssio
nal
know
ledg
e an
d pr
ovid
e op
port
uniti
es
to
exch
ange
in
form
atio
n re
late
d to
tr
ansp
orta
tion,
go
vern
men
t op
erat
ions
and
iss
ues.
The
pol
icy
of t
he T
rans
port
atio
n A
utho
rity
is t
o pa
y or
re
imbu
rse
Tra
nspo
rtat
ion
Aut
hori
ty p
erso
nnel
for
suc
h ex
pens
es, t
rave
l and
fee
s th
at
a re
ason
able
and
pru
dent
per
son
wou
ld in
cur
whe
n tr
avel
ing
on o
ffic
ial b
usin
ess
and
whi
ch s
erve
an
Tra
nspo
rtat
ion
Aut
horit
y pu
rpos
e an
d ar
e de
emed
nec
essa
ry a
nd/o
r ad
vant
ageo
us to
the
Tra
nspo
rtat
ion
Aut
horit
y.
C.
Lim
itat
ions
. T
rave
l an
d m
eetin
g ex
pend
iture
s sh
all
not
exce
ed t
he a
ppro
ved
budg
et
and
shal
l be
co
nsis
tent
w
ith
asso
ciat
ed
polic
ies
esta
blis
hed
by
the
Tra
nspo
rtat
ion
Aut
horit
y. E
ligib
le T
rans
port
atio
n A
utho
rity
per
sonn
el a
re e
ntitl
ed t
o cl
aim
re
imbu
rsem
ent
for
actu
al,
reas
onab
le
and
nece
ssar
y ex
pens
es
for
elig
ible
ex
pens
es in
curr
ed in
the
dis
char
ge o
f th
eir
offic
ial d
utie
s, s
ubje
ct t
o th
e lim
itatio
ns s
et
fort
h he
rein
.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s.
1
II.
EL
IGIB
ILIT
Y
A.
Elig
ible
P
erso
nnel
. E
xpen
ses
are
auth
oriz
ed
for
Tra
nspo
rtat
ion
Aut
hori
ty
Com
mis
sion
ers
and
empl
oyee
s (T
rans
port
atio
n A
utho
rity
per
sonn
el).
In a
dditi
on,
thes
e po
licie
s w
ill a
pply
for
tho
se i
ndiv
idua
ls u
nder
con
trac
t to
the
Aut
horit
y fo
r w
hich
the
app
rove
d co
ntra
ct p
rovi
des
for
reim
burs
emen
t of
tra
vel
and
conf
eren
ce
expe
nses
as
note
d in
the
con
trac
t. T
rave
l exp
ense
s m
ay b
e au
thor
ized
for
the
pur
pose
of
co
nduc
ting
busi
ness
on
be
half
of
the
Tra
nspo
rtat
ion
Aut
horit
y,
incl
udin
g em
ploy
men
t int
ervi
ews.
B. E
ligib
le T
rave
l Exp
ense
s. T
he f
ollo
win
g ex
pens
es a
re e
ligib
le f
or r
eim
burs
emen
t in
con
nect
ion
with
aut
hori
zed
Tra
nspo
rtat
ion
Aut
horit
y bu
sine
ss, t
rave
l, co
nfer
ence
s,
mee
tings
, an
d tr
aini
ng,
subj
ect
to
the
rest
rict
ions
id
entif
ied
late
r in
th
is
polic
y.
Rei
mbu
rsem
ents
sha
ll be
for
act
ual
expe
nditu
res
(rec
eipt
s re
quire
d fo
r ex
pens
es
grea
ter
than
$25
.00)
for
am
ount
s no
t to
exc
eed
the
per
diem
rat
es a
nd a
llow
ance
s
Cle
an-u
p an
d st
ream
linin
g ch
ange
s;
upda
ted
for
cons
iste
ncy
with
GSA
and
IR
S.
1-2
35
![Page 36: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/36.jpg)
Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 1
9 of
21
TR
AV
EL
, CO
NF
ER
EN
CE
, TR
AIN
ING
AN
D B
USI
NE
SS E
XP
EN
SE R
EIM
BU
RSE
ME
NT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
esta
blis
hed
by t
he G
ener
al S
ervi
ces
Adm
inis
trat
ion
(GSA
),In
tern
al R
even
ue S
ervi
ce,
and/
or U
nite
d St
ates
Dep
artm
ent o
f D
efen
se (U
SDO
D) a
s ap
prop
riate
:
1.
Mea
ls;
2.
Lod
ging
;
3.
Tra
nspo
rtat
ion
char
ges
(, in
clud
ing
com
mer
cial
car
rier
fare
s,;
rent
al c
ar
char
ges,
; pr
ivat
e ca
r m
ileag
e al
low
ance
s,;
park
ing,
; br
idge
and
roa
d to
lls,;
and
nece
ssar
y ta
xi o
r pu
blic
tran
sit f
ares
); an
d
4.
Mis
cella
neou
s ex
pens
es:
Loc
al a
nd lo
ng d
ista
nce
busi
ness
tele
phon
e ca
lls, f
axes
and
inte
rnet
acc
esst
eleg
ram
s by
th
e m
ost e
cono
mic
al p
ract
icab
le c
omm
erci
al s
ervi
ce,.
subj
ect t
o re
view
by
the
Dep
uty
Dire
ctor
for
Fin
ance
and
Adm
inis
trat
ion
and
only
app
rove
d if
deem
ed r
easo
nabl
e an
d pr
oper
Any
cha
rges
in e
xces
s of
$5.
00 p
er d
ay s
hall
be it
emiz
ed to
incl
ude
to w
hom
the
call
was
mad
e an
d th
e na
ture
/nee
d fo
r th
e ca
ll;
II.
EL
IGIB
ILIT
Y
B.
Elig
ible
Tra
vel E
xpen
ses
Foot
note
Per
die
m is
an
allo
wan
ce f
or lo
dgin
g (e
xclu
ding
tax
es),
mea
ls a
nd in
cide
ntal
exp
ense
s.
The
Uni
ted
Stat
es G
ener
al S
ervi
ces
Adm
inis
trat
ion
(GSA
) es
tabl
ishe
s pe
r di
em r
ates
fo
r de
stin
atio
ns w
ithin
the
Con
tinen
tal U
nite
d St
ates
. The
Uni
ted
Stat
es D
epar
tmen
t of
Sta
te e
stab
lishe
s th
e fo
reig
n ra
tes
(for
exa
mpl
e, R
ussi
a, A
ruba
, B
aham
as,
Eur
ope,
et
c.).
The
Dep
artm
ent
of D
efen
se (
DO
D)
esta
blis
hes
non-
fore
ign
rate
s su
ch a
s A
lask
a, H
awai
i, P
uert
o R
ico,
and
Gua
m.
The
se r
ates
are
rev
iew
ed a
nnua
lly b
y th
e re
spec
tive
Fed
eral
age
ncy.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s 2
VI.
M
EA
L E
XPE
NSE
A
. G
ener
al. T
rans
port
atio
n A
utho
rity
pers
onne
l may
incu
r ex
pens
es f
or th
e pu
rcha
se
of m
eals
for
per
sons
not
em
ploy
ed b
y th
e T
rans
port
atio
n A
utho
rity,
with
who
m
the
Tra
nspo
rtat
ion
Aut
horit
y is
tran
sact
ing
busi
ness
. The
nam
e an
d bu
sine
ss
affil
iatio
n of
the
pers
on, a
s w
ell a
s th
e pu
rpos
e of
the
busi
ness
mee
ting,
mus
t be
incl
uded
in th
e E
xpen
se R
epor
texp
ense
rep
ort.
The
max
imum
per
-per
son
expe
nditu
re s
hall
not e
xcee
d a
reas
onab
le a
mou
nt u
nder
the
part
icul
ar
circ
umst
ance
s an
d sh
all n
ot e
xcee
d th
e pe
r di
em a
mou
nt. A
ctua
l cos
ts s
hall
incl
ude
reas
onab
le a
nd c
usto
mar
y gr
atui
ties,
but
not
the
cost
of
alco
holic
bev
erag
es. A
ll su
ch e
xpen
ditu
res
for
pers
onne
lem
ploy
ees
mus
t be
appr
oved
in a
dvan
ce b
y th
e E
xecu
tive
Dire
ctor
.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s 5
VI.
M
EA
L E
XPE
NSE
C
. L
ocal
Are
a M
eals
.Rei
mbu
rsem
ent f
or e
mpl
oyee
mea
ls in
the
loca
l are
a m
ust b
e as
soci
ated
with
Tra
nspo
rtat
ion
Aut
horit
y bu
sine
ss a
nd m
ust b
e ap
prov
ed in
ad
vanc
e by
the
Exe
cutiv
e D
irect
or. M
eal e
xpen
ses
incu
rred
pri
or to
aut
horiz
atio
n w
ill b
e at
the
risk
of
the
empl
oyee
. Mea
ls s
houl
d no
t exc
eed
the
per
diem
rat
es a
nd
allo
wan
ces
esta
blis
hed
by th
e G
SA o
r U
SDO
D a
s ap
prop
riate
the
follo
win
g co
sts:
br
eakf
ast (
$7);
lunc
h ($
10);
and
dinn
er ($
18).
Unu
sual
cos
ts m
ust b
e ju
stifi
ed in
w
ritin
g.
D.
Out
-of-
Are
a M
eals
. Rei
mbu
rsem
ent f
or e
mpl
oyee
mea
ls d
urin
g pe
riod
s of
ap
prov
ed tr
ips
out-
of-a
rea
mus
t be
appr
oved
on
the
Tra
vel A
utho
rizat
ion
Cle
an-u
p an
d st
ream
linin
g ch
ange
s;
upda
ted
for
cons
iste
ncy
with
GSA
and
IR
S.
5
36
![Page 37: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/37.jpg)
Att
achm
ent
1
M:\
Fina
nce\
2015
\Mem
os\0
1 Ja
n\Po
licie
s\A
tt 0
1 Po
licie
s M
atri
x.do
cx
Pa
ge 2
0 of
21
TR
AV
EL
, CO
NF
ER
EN
CE
, TR
AIN
ING
AN
D B
USI
NE
SS E
XP
EN
SE R
EIM
BU
RSE
ME
NT
PO
LIC
Y
SEC
TIO
N
RE
VIS
ION
R
EA
SON
P
AG
E
For
mtr
avel
aut
horiz
atio
n fo
rm. R
eim
burs
emen
t for
out
-of-
area
mea
ls w
ill b
e ba
sed
on e
ither
act
ual c
osts
, for
whi
ch r
ecei
pts
mus
t be
prov
ided
for
exp
endi
ture
s ex
ceed
ing
$25.
00, a
nd in
acc
orda
nce
with
the
per
diem
of
the
fede
ral s
tand
ard
mea
l allo
wan
ce, a
s es
tabl
ishe
d by
the
GSA
or
USD
OD
as
appr
opria
tepu
blis
hed
in
Inte
rnal
Rev
enue
Ser
vice
Pub
licat
ion
463
(or
any
succ
esso
r pu
blic
atio
n). U
nusu
al
cost
s m
ust b
e ju
stifi
ed in
writ
ing.
VII
. L
OD
GIN
G E
XPE
NSE
S R
eim
burs
emen
t is
al
low
able
fo
r si
ngle
-roo
m
lodg
ing
expe
nses
as
soci
ated
w
ith
atte
ndan
ce a
t ou
t-of
-are
a co
nfer
ence
s or
mee
tings
. The
cos
t of
a s
ingl
e ro
om w
ill b
e re
imbu
rsed
whe
n tr
avel
exc
eeds
the
day
’s d
urat
ion.
Whe
re a
vaila
ble,
gov
ernm
ent
and
grou
p ra
tes
mus
t be
re
ques
ted.
N
o re
imbu
rsem
ent
is
auth
oriz
ed
for
over
nigh
t ac
com
mod
atio
ns w
ithin
the
nin
e B
ay A
rea
coun
ties
of A
lam
eda,
Con
tra
Cos
ta, M
arin
, N
apa,
San
Fra
ncis
co,
San
Mat
eo,
Sant
a C
lara
, So
lano
and
Son
omai
n th
e co
untie
s of
A
lam
eda,
San
Fra
ncis
co,
Con
tra
Cos
ta,
San
Mat
eo,
Sola
no,
Mar
in,
or S
anta
Cla
ra
unle
ss p
rior
auth
oriz
atio
n is
gra
nted
. T
rans
port
atio
n A
utho
rity
pers
onne
l will
be
expe
cted
to b
e pr
uden
t in
the
choi
ce o
f lo
dgin
g an
d w
ill s
ubm
it pr
oper
doc
umen
tatio
n to
just
ify th
e ex
pens
e. T
he E
xecu
tive
Dir
ecto
r w
ill a
ppro
ve th
e lo
dgin
g as
par
t of
the
appr
oval
of
the
trav
el r
eque
st, a
nd
rese
rves
the
righ
t to
dete
rmin
e w
hich
lodg
ing
is p
rude
nt, b
ased
on
econ
omic
, com
fort
, sa
fety
, and
rea
sona
bilit
y co
nsid
erat
ions
. The
Aut
horit
y w
ill r
eim
burs
e its
per
sonn
el f
or
lodg
ing
up to
the
rate
s pu
blis
hed
by th
e In
tern
al R
even
ue S
ervi
ce P
ublic
atio
n 46
3 (o
r an
y su
cces
sor
publ
icat
ion)
. If
lodg
ing
is r
equi
red
in c
onne
ctio
n w
ith a
con
fere
nce,
the
lodg
ing
cost
s sh
all n
ot e
xcee
d th
e m
axim
um g
roup
rat
e pu
blis
hed
by th
e sp
onso
r of
th
e co
nfer
ence
. If
no g
roup
rat
e is
ava
ilabl
e at
the
time
of b
ooki
ng, t
he T
rans
port
atio
n A
utho
rity
will
rei
mbu
rse
its p
erso
nnel
for
lodg
ing
up to
the
rate
s es
tabl
ishe
d by
the
GSA
or
USD
OD
as
appr
opria
tepu
blis
hed
in I
nter
nal R
even
ue S
ervi
ce P
ublic
atio
n 46
3 (o
r an
y su
cces
sor
publ
icat
ion)
.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s;
upda
ted
for
cons
iste
ncy
with
GSA
and
IR
S.
6
VII
I. M
EA
NS
OF
T
RA
NSP
OR
TA
TIO
N
A. G
ener
al.A
ll tr
avel
mus
t util
ize
the
mos
t eff
icie
nt, d
irect
and
eco
nom
ical
mod
e of
av
aila
ble
tran
spor
tatio
n. T
rans
port
atio
n A
utho
rity
pers
onne
l sha
ll us
e go
vern
men
t and
gr
oup
rate
s of
fere
d by
pro
vide
rs o
f tr
ansp
ort w
here
ava
ilabl
e. I
f fo
r pe
rson
al
conv
enie
nce,
Tra
nspo
rtat
ion
Aut
hori
ty p
erso
nnel
trav
el a
n in
dire
ct r
oute
and
trav
el is
in
terr
upte
d, a
ny r
esul
ting
extr
a ex
pens
e w
ill b
e bo
rne
by th
e in
divi
dual
exc
ept f
or
reas
ons
beyo
nd th
e co
ntro
l of
the
indi
vidu
al. F
or e
mpl
oyee
s, a
ny r
esul
ting
exce
ss
trav
el ti
me,
exc
ept w
here
bey
ond
the
cont
rol o
f th
e em
ploy
ee, w
ill n
ot b
e co
nsid
ered
w
ork
time,
but
will
be
char
ged
the
appr
opri
ate
type
of
leav
e.
Cha
rges
or
loss
of
refu
nds
resu
lting
fro
m f
ailu
re to
can
cel r
eser
vatio
ns in
acc
orda
nce
with
the
carr
ier’s
rul
es a
nd ti
me
limits
usu
ally
will
not
be
reim
burs
ed, u
nles
s it
can
be
show
n th
at s
uch
failu
re r
esul
ted
from
circ
umst
ance
s be
yond
the
cont
rol o
f T
rans
port
atio
n A
utho
rity
pers
onne
l. U
nuse
d po
rtio
ns o
f tr
ansp
orta
tion
ticke
ts a
re s
ubje
ct t
o re
fund
and
, whe
n pu
rcha
sed
by t
he T
rans
port
atio
n A
utho
rity,
the
indi
vidu
al t
rave
ler
is r
espo
nsib
le t
o se
e th
at t
hey
are
turn
ed in
pro
mpt
ly to
sec
ure
such
a r
efun
d.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s 6
37
![Page 38: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/38.jpg)
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ent
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ile f
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ial B
usin
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In
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ance
s w
here
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rtat
ion
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horit
y pe
rson
nel u
se th
eir
priv
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auto
mob
iles
for
tran
spor
tatio
n be
twee
n th
eir
norm
al w
ork
loca
tion
and
othe
r de
sign
ated
wor
k lo
catio
ns (e
.g.,
the
site
of
a m
eetin
g), T
rans
port
atio
n A
utho
rity
pers
onne
l may
be
reim
burs
ed f
or s
uch
mile
age
base
d up
on th
e st
anda
rd m
ileag
e ra
te
as e
stab
lishe
d by
the
GSA
in I
nter
nal R
even
ue S
ervi
ce P
ublic
atio
n 46
3. W
hen
actu
al
mile
age
exce
eds
by 1
0% th
e re
ason
able
dis
tanc
e be
twee
n po
ints
, Tra
nspo
rtat
ion
Aut
horit
y pe
rson
nel m
ust j
ustif
y su
ch e
xces
s. I
nabi
lity
to d
o so
will
res
ult i
n th
e re
imbu
rsem
ent b
eing
bas
ed o
n m
ileag
e fo
r th
e m
ost d
irect
rou
te. M
ileag
e ra
te o
f re
imbu
rsem
ent w
ill b
e ad
just
ed a
s re
quire
d. M
ileag
e re
imbu
rsem
ent f
or o
ut-o
f-ar
ea
trip
s sh
all n
ot e
xcee
d th
e co
st o
f th
e m
ost e
ffic
ient
and
eco
nom
ical
dire
ct a
ir ra
te.
Tra
nspo
rtat
ion
Aut
horit
y pe
rson
nel w
ho u
se th
eir
priv
atel
y-ow
ned
mot
or v
ehic
les
for
tran
spor
tatio
n w
hile
on
offic
ial T
rans
port
atio
n A
utho
rity
bus
ines
s m
ust c
arry
at l
east
th
e m
inim
um a
utom
obile
liab
ility
insu
ranc
e fo
r pr
ivat
ely-
owne
d m
otor
pas
seng
er
vehi
cles
as
requ
ired
by
the
Stat
e of
Cal
iforn
ia. R
eim
burs
emen
t for
this
min
imum
au
tom
obile
liab
ility
insu
ranc
e co
vera
ge s
hall
not b
e al
low
ed. W
hen
usin
g pr
ivat
ely-
owne
d m
otor
veh
icle
s, T
rans
port
atio
n A
utho
rity
pers
onne
l will
not
be
reim
burs
ed f
or
any
dam
ages
that
may
occ
ur.
Cle
an-u
p an
d st
ream
linin
g ch
ange
s;
upda
ted
for
cons
iste
ncy
with
GSA
and
IR
S.
7
VII
I. M
EA
NS
OF
T
RA
NSP
OR
TA
TIO
N
F.
Rei
mbu
rsem
ent.
Unl
ess
othe
rwis
e pr
ovid
ed a
bove
, the
Tra
nspo
rtat
ion
Aut
horit
y w
ill r
eim
burs
e its
per
sonn
el f
or tr
ansp
orta
tion
at th
e ra
tes
esta
blis
hed
by th
e G
SA o
r U
SDO
D a
s ap
prop
riat
epub
lishe
d by
the
Inte
rnal
Rev
enue
Ser
vice
Pub
licat
ion
463
(or
any
succ
esso
r pu
blic
atio
n).
Cle
an-u
p an
d st
ream
linin
g ch
ange
s;
upda
ted
for
cons
iste
ncy
with
GSA
and
IR
S.
8
38
![Page 39: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/39.jpg)
SAN FRAN
DRAFT
M:\Finance\201
SECTION 1
This Ordand may This OrTransporappointmand mana
SECTION 2
The Tranrequired Code, alsfollowing
(a)
(b)
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SECTION 3
The elevebe the of
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5\Memos\01 Jan\Poli
. TITLE A
dinance is enabe referred
rdinance prertation Auth
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2. DUTIES
nsportation Ato accomplisso known asg:
The Tranbecame efsupersedeadoption bimplemen
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The TranExecutiveperforman
3. POWER
en members fficers of the
A Commithe City abe made ieffective wregular mTransport
TY TRANSPORT
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AND AUTHORIT
acted pursuanto as the “Saescribes theority (hereinloyees of thehe Transport
S OF THE TRAN
Authority shash the stateds the Bay A
sportation Affective upond by the Nby the voters
nted by Propo
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nsportation At least annual
sportation Aon the prog
tation Expen
nsportation Ae Director bnce for the cu
RS AND DUTIES
of the BoarTransportati
issioner may nd County oin writing towhen deliver
member. Whtation Autho
TATION AUTHO
in Code 2015.docx
ADMINI
TY.
nt to the proan Francisco
powers annafter referree Transportattation Autho
NSPORTATION A
all have the d purposes anArea County
Authority shan approval b
New Transpos on Novembosition B for
Authority shfficers and eovided in Sec
Authority shlly by a certifi
Authority shagress to ach
nditure Plan.
Authority shby Decembeurrent year.
S OF THE TRAN
rd of Superviion Authority
designate anof San Franco the Chairpred. The althen the regrity, the alter
ORITY
ISTRATIVE
ovisions of Co County Trand duties oed to as thetion Authori
ority.
AUTHORITY.
power, authnd goals of D
Traffic and
all administerby the votersortation Expber 4, 2003 oa 30-year pe
hall adopt amployees. Thction 3.2 her
hall cause a fied public ac
all prepare ahieve the obj
all conducter 31 of eac
NSPORTATION
isors of the Cy. They shall
nother local cisco to serveperson of theernate’s term
gular membrnate may ac
E CODE
California Pubansportation of officers e Transportaity; and the p
ority, and duDivision 12.5d Transporta
r the Transps on Novem
penditure Plaof Propositioeriod.
an annual bhe compensa
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post audit ccountant.
and adopt anjectives of c
an employech year for
AUTHORITY OF
City and Col be known a
elected office as his or hee Transportam of office er is not p
ct as the regu
ADMI
blic Utilities C Authority Aof the San
ation Authopolicies, and
uty to do all 5 of the Caliation Fundin
portation Expmber 7, 1989 an which beon K, which
budget by Jation of Tran
of its finan
n annual repcompletion o
e performanr the Execu
FFICERS.
unty of San as “Commissi
cial who reprer alternate. ation Authorshall be the present at ular member
NISTRATIVE CO
ORDINANCE 1
Pa
Code SectionAdministrativn Francisco
ority); the msystems of o
things neceifornia Publicng Act, inclu
penditure Plof Proposit
ecame effectextended the
June 30 andnsportation A
ncial transact
port by Januaof the projec
nce evaluatioutive Directo
Francisco (Cioners.”
resents the cThe designa
rity and shalsame as th
the meetingand shall ha
ODE
15-XX
ge 1 of 12
n 131265, ve Code.” o County
method of operation
ssary and c Utilities uding the
lan which tion B, as tive upon e sales tax
d fix the Authority
tions and
ary 31 of cts in the
on of the or’s work
City) shall
citizens of ation shall ll become hat of the g of the ave all the
Attachment 2 39
![Page 40: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/40.jpg)
SAN FRAN
DRAFT
M:\Finance\201
(b)
(c)
SECTIO
(a)
(b)
(c)
SECTIO
(a)
(b)
NCISCO COUNT
5\Memos\01 Jan\Poli
rights, privmeeting.
Chairperson
1. To pre
2. To apcomm
3. To de
4. To siAutho
5. To pAutho
Vice-Chairpabsence o
ON 3.1.
The Chairthereafter,
The Vice-and therea
If the ChaChairpersomeeting o
ON 3.2.
As requirTransportof $100 fexceed $4of the Tra
1. A mee
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4. Any opublicperforreceiv
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TY TRANSPORT
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vileges, and r
n. The Chairp
eside at all m
ppoint the mittees of the
cide the agen
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erform suchority.
person. The Vr incapacity o
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rperson shall, after the fir
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airperson or on or Vice-Cf the Transp
Compensatio
red by the tation Authofor each day 400 in any moansportation
eting of the l
eting of an ad
nference or or
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ioners shall in the perfoand as per th
TATION AUTHO
in Code 2015.docx
responsibiliti
person shall p
meetings;
membershipTransportat
nda of Transp
s, deeds, an
h additional
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Appointment of
l be elected rst complete c
n shall be elehe first comp
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portation Aut
on of Commiss
provisions rity Commis
y attending thonth, for anyAuthority:
egislative bo
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receive reimormance of dhe adopted T
ORITY
ies of the reg
possess the f
p and the tion Authorit
portation Au
nd other ins
duties as
erson shall pperson.
f the Transport
at the first mcalendar year
ected at the flete calendar
person resignto serve the
thority.
sioners.
of Californssioners or thhe business y of the follo
dy;
y;
ucational activ
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mbursement duty their d
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gular membe
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struments o
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tation Authorit
meeting of thr, annually at
first meetingr year, annual
ns or is remoe remainder
nia Public heir alternateof the Tran
owing occurr
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for necessaduties when on Authority
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er, including
wers and dut
n and Vice-
tings;
on behalf of
esignated by
duties of th
ty Officers.
he Transport the first me
g of the Tranlly at the firs
oved from oof the term
Utilities Coes shall be consportation Arences that a
ng ethics train
y has adoptedoccurrence
on Authority
ary travel ansuch expens
y travel allow
NISTRATIVE CO
ORDINANCE 1
Pa
compensatio
ties:
-Chairperson
f the Trans
y the Trans
he Chairperso
rtation Authoeeting in Janu
nsportation At meeting in
office, the elem, shall be at
ode Section ompensated aAuthority, buare related to
ning; or
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y Commissio
nd personal ses are auth
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ODE 15-XX
ge 2 of 12
on for the
n of the
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sportation
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ority, and uary.
Authority, January.
ection for t the next
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o business
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expenses horized in policies as
40
![Page 41: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/41.jpg)
SAN FRAN
DRAFT
M:\Finance\201
SECTION 4
(a)
(b)
(c)
SECTIO
NCISCO COUNT
5\Memos\01 Jan\Poli
set forth Business E
4. STAFF
Executive Dshall servepossess thincluding
1. To suAutho
2. To foPlan othe pr
3. To prspons
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5. To dirand seservicethereuagencibudge
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Chief Depuevent of tvacancy in
Additional Sapproval oand shall additionalserve at th
ON 4.1
TY TRANSPORT
cies\Att 02 Draft Adm
in the TraExpense Poli
TO THE TRANS
Director. The e at the pleahe power anthe following
upervise and ority;
rmulate and of the Transpriorities set by
rovide guidaors to ensure
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dminister theolling, supervarging any eain a personority, and me
rovide the drm such othe
ty Director. Tthe Executiven that positio
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l staff membhe pleasure o
Benefits for
TATION AUTHO
in Code 2015.docx
ansportation icy.
SPORTATION A
Transportatasure of the nd duty to ag powers and
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ance to and e that the pro
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paration and axecute contrreements wiot exceed $7fficient fund
e personnel svising, promemployee. Tnnel manual,ethods of co
day-to-day aer and additio
The Executive Director’s
on, the Chief
xecutive Dirportation Aud in a writte
bers to approf the Execut
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ORITY
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UTHORITY.
tion AuthoritTransportat
administer thd duties:
aration of th
ns for implemthority, inclund the means
to monitor ojects are com
ion Authorityf the Transpo
administratioracts for gooith sponsori75,000 and ding for such
system of thmoting, transTo this end,, stating the ompensation
administratioonal duties as
ve Director stemporary aDeputy Dire
rector may cuthority. Duten job descroved positiontive Director.
adopted T
ty shall appotion Authorihe business
he annual dra
mentation ouding establiss to finance t
and coordinmpleted;
y each year aortation Auth
on of purchaods, materialing agenciesto execute a
h is available
he Transportsferring, susp, the Execu
rules of emestablished
on of the Ts the Transpo
shall appointabsence, disaector shall ac
create additioties shall be dription. The ns. All emplo.
ADMI
ravel, Confe
oint the Exeity. The Exeof the Tran
aft budget fo
f the Transpshment of prthem;
nate the act
a complete rhority for the
ase orders anls and servics where estany agreemein the Trans
tation Authopending with
utive Directomployment o
by the Tran
Transportatioortation Aut
t a Chief Deability or unact as the Exe
onal staff podefined by thExecutive D
oyees are “at
NISTRATIVE CO
ORDINANCE 1
Pa
erence, Train
ecutive Dirececutive Direc
nsportation A
or the Trans
portation Exproject prioriti
tivities of th
report of thee preceding y
nd contracts fces, includingtimated expents with spsportation A
ority, includinh or withouor shall preof the Transnsportation A
on Authorityhority may p
eputy Directoavailability orcutive Direct
ositions subjehe ExecutiveDirector shalt-will” emplo
ODE 15-XX
ge 3 of 12
ning and
ctor, who ctor shall
Authority,
sportation
penditure ies within
he project
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41
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42
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43
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44
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45
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46
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TATION AUTHO
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47
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ODE 15-XX
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48
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TATION AUTHO
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decision wher the informs as required
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ODE 15-XX
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49
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(d
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ability.
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50
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Rule 1.1
Rule 1.2
Rule 1.3
Rule 1.4
Rule 1.5
Rule 1.6
Rule 1.7
Rule 1.8
Rule 1.9
Rule 1.10
Rule 1.11
Rule 1.12
Rule 1.13
Rule 1.14
Rule 1.15
Rule 1.16
Rule 1.17
NCISCO COUNT
5\Memos\01 Jan\Poli
As used irespective
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Rule 1.18
NCISCO COUNT
5\Memos\01 Jan\Poli
“Rules” Authority
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RDER 15-XX
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sportation
52
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Rule 2.1
Rule 2.2
Rule 2.3
Rule 2.4
Rule 2.5
Rule 2.6
Rule 2.7
NCISCO COUNT
5\Memos\01 Jan\Poli
Adoption oan affirmsuch RulChair or of order
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RDER 15-XX
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53
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Rule 2.8
Rule 2.9
Rule 2.10
Rule 2.11
Rule 2.12
Rule 2.13
Rule 2.14
Rule 2.15
NCISCO COUNT
5\Memos\01 Jan\Poli
Special Mcalled, su
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Meetings of theubject to the R
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54
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NCISCO COUNT
5\Memos\01 Jan\Poli
followingcommitte
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55
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Rule 3.1
Rule 3.2
Rule 3.3
Rule 3.4
Rule 3.5
Rule 3.6
NCISCO COUNT
5\Memos\01 Jan\Poli
Call to Ordregular, adafter the Authority of those mcall and thabsence o(15) minushall elect the author
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TATION AUTHO
s of Order 2015.docx
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RDER 15-XX
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call each mediately
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56
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Rule 3.7
Rule 3.8
Rule 3.9
Rule 3.10
Rule 3.11
Rule 3.12
Rule 3.13
Rule 3.14
Rule 3.15
NCISCO COUNT
5\Memos\01 Jan\Poli
Reading Twhen thepublic the
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TATION AUTHO
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RULES OF OR
RESOLUTION 1
Pa
n the calendaand to the
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57
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Rule 3.16
Rule 3.17
Rule 3.18
Rule 3.19
Rule 3.20
Rule 3.21
Rule 3.22
NCISCO COUNT
5\Memos\01 Jan\Poli
matter peshall havimmediat
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ion, Filing aation. Thereas.
n of Communicby the Clerk
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TATION AUTHO
s of Order 2015.docx
ept that the at to close avote.
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RULES OF OR
RESOLUTION 1
Pa
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58
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Rule 3.23
Rule 3.24
Rule 3.25
Rule 3.26
NCISCO COUNT
5\Memos\01 Jan\Poli
*Posting othe calenmeasure to reach Board mconsidere
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omment. Any agenda befoshall providen items of ithat are wits of the pubof minutes as(Section 5495
TATION AUTHO
s of Order 2015.docx
rAgenda. The to all personered, and sucnot later thatwenty-four (59454.2, 549
heduled meetiCity Hall.
be kept of ea
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RULES OF OR
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RDER 15-XX
ge 9 of 14
a copy of particular
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59
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Rule 4.1
Rule 4.2
Rule 4.3
Rule 4.4
Rule 4.5
NCISCO COUNT
5\Memos\01 Jan\Poli
Call to Ordshall call Immediatand shall membersthose abpresiding
Order of B
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TATION AUTHO
s of Order 2015.docx
R 4. COMMIT
Call. The com, adjourned, e call to ordee members pwell as thosee absence ofl proceed wit
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RULES OF OR
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60
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Rule 4.6
Rule 4.7
Rule 4.8
Rule 4.9
Rule 4.10
Rule 4.11
Rule 4.12
Rule 4.13
Rule 4.14
Rule 4.15
Rule 4.16
NCISCO COUNT
5\Memos\01 Jan\Poli
Time of Mthe beginpriority. Wshall be r
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TATION AUTHO
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y committee or her appomeeting fall
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RULES OF OR
RESOLUTION 1
Pag
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n the calendaand to the
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business nority vote ofin Governmess than two-sent, determiaction arose e).
recommendattioning of thme specific aons of ceremed by Trans
te. No motioedge member
ee chair shalthat one beiion of the co
upon separate
which are us or paragrap
RDER 15-XX
e 11 of 14
ee chair at t order of e meeting
ll provide Personnel
all review
ted upon at they be
ar agenda listening
em to be
ot on the f the full ent Code -thirds of ining that after the
tions of a he Board, act in the monial or sportation
on in the rs as they
ll order a ing taken ommittee. ely as if it
ultimately phs. Each
61
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Rule 4.17
Rule 4.18
Rule 4.19
Rule 4.20
Rule 4.21
Rule 4.22
Rule 4.23
Rule 4.24
Rule 4.25
NCISCO COUNT
5\Memos\01 Jan\Poli
section owhole sha
Withdrawacommitteconsent o
Reconsideany memquestion.
To be recvote on abeen ann
Rescind. Wat the sambeen don
*Voting Revote for of interesCode Sec
No memvote is an
A tie votthat the C
Vote to beof the methe Minu
Identificatidentificameasure.
Minutes. M
*Posting ocalendar to be connotificantmeeting o54956 of
*Public Cocalendar Authoritycommittepublic to
TY TRANSPORT
cies\Att 03 Draft Rules
or paragraph all then be vo
al of Motion. Aee. Before it iof a majority
ration. Whenmber voting
corded as haany question
nounced.
When a vote me meeting
ne as a result
equirements anor against it st which shaction 87100 e
mber shall be nnounced.
te on any maChair may br
Entered in thembers who
utes, and the v
ion, Filing aation. Therea
Minutes will b
of CalendarAgeagenda to all
nsidered, andts not later or twenty-fo
f the Governm
omment. Any agenda whi
y before it ee meeting p directly add
TATION AUTHO
s of Order 2015.docx
may be amoted upon.
After the mois acted uponof the memb
n a motion hwith the p
aving voted wn, any memb
has been takfor any memof the vote w
nd Procedure. unless prohi
all be discloseet seq. and all
permitted to
atter before treak a tie vote
he Minutes. Afvoted for anvotes by ayes
nd Indexing. after, the Cl
be kept of ea
enda. The Clel persons knod such noticethan seventyur (24) hourment Code).
member of ich is withinis acted on
prior to adjoudress the com
ORITY
mended while
otion has ben, a motion mbers present.
has been madrevailing sid
with the prever may chan
ken by a commber to movwhich is impo
Every memibited from ved (Governml other releva
o vote upon
the committee as provided
fter the comnd those whos and noes sh
The Clerk lerk shall m
ach Regular a
erk shall posown or presue shall be inity-two (72) hrs before a sp
the public in the subjec by the comurnment shalmmittee on it
e being cons
een stated it may be withd.
de and carriede to move
vailing side, innge a vote be
mmittee and ve to rescindossible to un
mber present voting by apment Code Sant laws and
a question u
ee shall be dd in Rule 4.5
mmittee has vo voted againhall be record
k shall assigmaintain a leg
and Special m
t the calendaumed to be intiated so as tohours before pecial meetin
is entitled toct matter jummittee. In ll provide antems of inter
sidered, and
shall be in tdrawn by the
ed or lost, itto reconsid
n order to mefore the resu
carried or lod that vote u
ndo.
when a motpplicable law Section 1090 regulations).
until the roll i
deemed to be.
voted upon anst the questided in the M
gn to all mgislative reco
meeting by th
ar agenda annterested in to be reasonaa regularly
ng is schedul
o comment ourisdiction o
addition, thn opportunityrest to the p
RULES OF OR
RESOLUTION 1
Pag
the proposi
the possessioe mover only
t shall be in der the vote
move to reconult of the rol
ost, it shall beunless some
tion is put fobecause of
et seq., Gov.
is called or b
e a disapprov
any matter, thion shall be e
Minutes.
measures apord and ind
he Clerk.
nd send a cothe particularably designedscheduled coled (Sections
on any mattef the Transhe last itemy for membe
public which
RDER 15-XX
e 12 of 14
ition as a
on of the y with the
order for e on that
nsider the ll call has
e in order thing has
forth shall a conflict vernment
before the
val except
he names entered in
ppropriate dex of all
py of the r measure d to reach ommittee s 54954.2,
er on the sportation
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62
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SAN FRAN
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M:\Finance\201
NCISCO COUNT
5\Memos\01 Jan\Poli
been discTransporthree (3) may limit
TY TRANSPORT
cies\Att 03 Draft Rules
cussed earlierrtation Authominutes or
t the total tes
TATION AUTHO
s of Order 2015.docx
r in the meeority. Membfor such num
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ORITY
eting that arebers of the pmber of minhirty (30) min
e within the public may anutes as set bnutes (Section
subject mattaddress the by the chair. n 54954.3 of
RULES OF OR
RESOLUTION 1
Pag
ter jurisdictiocommittee fThe commi
f Governmen
RDER 15-XX
e 13 of 14
on of the for up to ittee chair nt Code).
63
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Rule 5.1
Rule 5.2
Rule 5.3
NCISCO COUNT
5\Memos\01 Jan\Poli
Conduct ofimpute tunbecom
Smoking P
Honors isscategorie
1. EngroTranswith tthe St
2. Certif(5) Ccaccor
a) Nw
b) Ep
c) Dmp
3. Letteof Re
4. The Eeach by th
5. TheresoluBoard
TY TRANSPORT
cies\Att 03 Draft Rules
f Members. No another m
ming to a mem
Prohibited. Sm
sued by the Bs for transpo
ossed Resolusportation Athe Transportate Legislatu
ficate of Honcertificates ordance with t
No certificatewithin the pre
Each memberproposed reci
During the tmembers maprimary spon
rs of Recomecommendati
Executive Dof these hone staffs of in
Board shall utions, certifd meeting.
TATION AUTHO
s of Order 2015.docx
CHAPTER
No member inmember or tmber.
moking during
Board of Commortation- relat
utions. Such Authority staf
rtation Authure upon leav
nor. Each mof Honor a yethe following
es shall be isevious twelve
r desiring to ipient to the
two (2) busiy indicate thsor shall then
mmendation. ion in the na
irector shall,nors, and sha
ndividual mem
be advisedficates of ho
ORITY
R 5. MISCELL
n debate shato other me
g Board or co
missioners. Thted activities:
resolutions ff leaving theority; and Mving office.
member of thear on behalfg procedure.
sued to a pee (12) month
issue a CertiClerk who w
iness days fheir desire tn permit the
Each membame of the Bo
, after consuall facilitate tmbers.
d at its regunor or letter
LANEOUS
all, directly orembers any
ommittee me
he Board ma:
shall be prepe service afte
Mayors, memb
he Board is af of the Boar
erson or entiths.
ificate of Howill advise oth
following thto join in onadditional m
ber of the Booard without
ultation with the preparati
ularly schedurs of recomm
r indirectly, bconduct or
eetings is pro
ay issues hon
pared for meer at least tenbers of Cong
authorized tord without fu
ty which has
onor shall proher members
he provision n sponsoring
members to si
oard is authot limit as to n
the Chair, pion of such c
uled meetinmendation a
RULES OF OR
RESOLUTION 1
Pag
by any form motive unw
ohibited.
nors in the
embers leavinn (10) years ogress, and me
o be issued uurther Board
s received a c
ovide the nams of the requ
of the namg the certificign the certif
orized to issunumber.
prescribe the certificates an
ng on any eawarded sinc
RDER
15-XX
e 14 of 14
of words worthy or
following
ng office; of service embers of
up to five d action in
certificate
me of the est.
me, other cate. The ficate.
ue Letters
form for nd letters
engrossed e the last
64
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I
I
I
IV
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M:\Finance\201
. INTRODUCT
The purpthe San Fsystematiapplicable
I. DEBT POLI
The prim M M
m A
it
II. SCOPE AND
This DebInvestmeFiscal Poselection
This Polichanges tnoticed athe Boarauthority program,Annual BPolicy represented
While adrecognizemay fromor exceptspecific a
V. ETHICS AN
Officers, program proper anmake imp
NCISCO COUNT
5\Memos\01 Jan\Poli
TION
pose of this PFrancisco Coic debt police provisions
CY OBJECTIVE
mary objectiveMaintain cost-Moderate debmanagement iAchieve the h
s objectives.
D DELEGATION
bt Policy shaent Policy (alicy, the issuaand managem
icy shall be to the policy and conducted. Responsibfor structuri
shall lie witBudget does equires that d to the Boar
dherence to tes that changm time to timtions to achi
authorization
ND CONFLICTS
and employwill not eng
nd lawful expartial decisio
TY TRANSPORT
cies\Att 04 Draft Debt
Policy is to orounty Transpcy (Debt Poof state and
E
es of the Tran-effective acc
bt principal anin coordinati
highest practi
N OF AUTHORIT
all govern, ex copy of whance and mament of relat
reviewed anare subject t
ed public mebility for iming, implemeth the Execunot constituthe Board
rd in the cont
this Policy iges in the ca
me produce sieve policy gfrom the Bo
OF INTEREST
yee or agentsgage in any
xecution of thons.
TATION AUTHO
t Policy 2015.docx
DE
rganize and fportation Auolicy). The Dfederal law a
nsportation Acess to the cand debt serviion with Trancal credit rati
TY
xcept as othehich is attacanagement ofted financial
nd updated to approval beting. Overa
mplementationenting, and mutive Directoute authorizatspecifically atext of and c
s required inapital marketsituations thagoals. In theoard is obtain
s of the Trapersonal buhe debt man
ORITY
EBT POLIC
formalize debuthority (the Debt Policy and to pruden
Authority’s dapital marketice paymentsnsportation Aings that also
erwise coverehed hereto)f all debt funand advisory
at least annby the Transll policy diren of the Demanaging theor. The Boartion for debauthorize ea
consistent wit
n applicable ts, agency prat are not covese cases, maned.
ansportation usiness activinagement pr
CY
bt issuance-rTransportatis, in every nt debt mana
debt and finats through prs through effAuthority proo allow the T
ed by the Trand the Tr
nded throughy services and
nually and msportation Auection of thisebt Policy, ae Transportard’s adoptionbt issuance foach debt finth the Annua
circumstancrograms andvered by theanagement f
Authority inities or invesogram, or w
related policition Authoriy case, subjeagement prin
ancing relatedrudent yet flefective plannioject sponso
Transportatio
ransportationansportation
h the capital md products.
more frequenuthority Boas Debt Policyand day-to-dation Authorn of the Tranor any capitanancing. Eacal Budget.
ces, the Trand other unfoe Policy and flexibility is a
nvolved in tstments that
which could i
DEBT PO
RESOLUTION 1
Pa
es and procety) and to e
ect to and linciples.
d activities arexible policieing and proje
ors; and on Authority
n Authority’sn Authority’smarkets, incl
ntly as requiard (Board) ay shall be proday responsibrity’s debt annsportation Aal projects. Tch financing
nsportation Aoreseen circurequire modappropriate,
the debt mant would conimpair their
LICY
15-XX
ge 1 of 18
edures for stablish a imited by
re to es; ect cash
to meet
s adopted s adopted uding the
ired. Any at a legally ovided by bility and
nd finance Authority
This Debt shall be
Authority umstances difications
provided
nagement nflict with
ability to
Attachment 4 65
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V
V
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M:\Finance\201
V. STRATEGICThe TraPropositiand the FPlan sets Policy prguidance not be rePlan.
VI. STANDARD
The Trancases whfinancing
A. Cr
CATinTcucr
B. Lo
TcathuEpcadex
C. De
Tbteanfifi
D. O
Tth
NCISCO COUNT
5\Memos\01 Jan\Poli
C PLAN INTEGRansportation ion K Sales TFiscal Policy priorities and
rovides policon decision
ecommended
DS FOR USE OF
nsportation Ahere public g.
redit Quality.
Credit qualityAuthority’s oTransportation a manner Transportatiourrent creditredit rating a
ong-Term Capi
The Transporapital projecthe debt repaseful life of
Expenditure Policies, the Tapital investmebt financingxpenditures u
ebt Financing
The Transporut not limiteerm debt, cond inter-funinancing alteinancing stru
ngoing Debt Ad
The Transporhe term of t
TY TRANSPORT
cies\Att 04 Draft Debt
RATION Authority’s
Tax (Prop K)to ensure prod strategies fy direction as pertaining
d for Board a
F DEBT FINANC
Authority’s dpolicy, equi
y is an impoobjectives ann Authority conducive t
n Authority’ratings assig
gencies.
ital Projects.
rtation Authots. When theayment periof the projectPlan or (3) foTransportatioment and thag shall not bunder federa
Mechanism.
rtation Authed to, tax-exemmercial pad borrowing
ernative that cture to the T
dministration a
rtation Authothe debt. At
TATION AUTHO
t Policy 2015.docx
multi-year ) Expendituroper allocatiofor allocatingand limitatioto internal fi
approval unle
CING
debt manageity and econ
ortant consind the assoc
debt manageto receiving ’s debt managned to the T
ority will issue Transportaod should not being finanorty (40) yearon Authorityat it is approbe used to fl tax principl
ority will evaempt and taxaper, sales taxg. The Tran
effectively Transportati
and Internal C
ority shall mat a minimum
ORITY
Strategic Pre Plan, shall on and finan
g Prop K funns for propo
fiscal manageess such issu
ement progranomic effici
ideration andciated the sizement activit
the highestagement objTransportatio
ue long-termation Authorot exceed thnced, (2) thrs from the dy recognizesopriate that tfund operatiles.
aluate the usxable debt, lox revenue an
nsportation Abalances theon Authority
ontrols.
aintain all debm, this repos
Plan (Strategbe used in c
ncing of Propnds under its osed financinement. Debt uance has be
am will promiency favor
d will be bze and freqties for new t credit ratinectives, and on Authority
m debt only tority finances he earliest ofhe end of thdate of issuans that futurethey pay a shing costs un
se of availabong-term debnd grant antiAuthority wie cost of thy.
bt-related recsitory will in
gic Plan), wcombination p K eligible pguiding prinng and the Fissuance foren incorpora
mote debt isdebt over
alanced withquency of is
debt issuancngs possibleto maintain
y’s outstandi
o finance andcapital projef the followihe term of nce. Inherente taxpayers whare of the a
nless such co
ble financial abt (both fixedicipation notill utilize the
he financing
cords for a pnclude all of
DEBT PO
RESOLUTION 1
Pa
which progrwith this De
projects. Theciples, while Fiscal Policy r capital projated into the
ssuance onlycash (pay-a
h the Transsuances of ces will be ce consistent ning or improing debt by t
d refinance lects by issuin
wing: (1) 120%the current t in its long-twill benefit asset cost. Losts qualify
alternatives id and variabltes, private pe most advawith the ris
period for nofficial statem
LICY 15-XX
ge 2 of 18
rams the ebt Policy e Strategic
the Debt provides
jects shall e Strategic
y in those s-you-go)
sportation debt. All onducted with the
oving the the major
long-term ng bonds, % of the sales tax
term debt from the
Long-term as capital
including, le), short-placement antageous sk of the
o less than ments, bid
66
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V
SAN FRAN
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M:\Finance\201
devwdtrATP
E. Re
TfucomrereTcoreTTC
VII. FINANCING
A. Pu
Wcr1.
2
NCISCO COUNT
5\Memos\01 Jan\Poli
ocuments, ovents notices
with bond prebt. To theranscript will
Authority willTransportatioPolicy, all deb
ebate Policy a
The Transporunds. These ompliance w
maximize the espective indequirements
Transportatioomplies withebate, yield li
The TranspoTransportatioConsultant.
G CRITERIA
urpose of Debt
When the Trriteria will be. NEW MO
New monprojects constructithe Debt PTheCapitaand the E
. REFUNDI
Refundingdebt. Refumodify inused, or refunding Policies oRefinancin
TY TRANSPORT
cies\Att 04 Draft Debt
ordinances, s, tax certificroceeds, und extent thatsuffice (tran
l develop a n Authority
bt covenants
nd System.
rtation Authrecords wi
with all debt cinterest earn
denture, conand as per
n Authority h any tax cerimits and arb
ortation Authn Authority
t.
ransportatione utilized to e
ONEY FINAN
ney issues arefor allocatioion or majorPolicy, debt pal project funxpenditure PING FINANC
g bonds are iunding issuan
nterest rate ricovenants oissue on a
on the adminng Outstandi
TATION AUTHO
t Policy 2015.docx
indentures, cates, informderwriter andt official tra
nscripts may bstandard prowill establis
and any appl
hority will acill be designcovenants, annings on all nsistent withrmitted by will developrtificates rela
bitrage, and mhority will shall have th
n Authority devaluate the tCING. e financings on of Tranr rehabilitatioproceeds gen
nding requirePlan. CING. issued to retnces can be isk, or to reof existing da present-valnistration ofing Debt.
ORITY
trustee repomation regardd other agreeanscripts incbe hard copyocedure for sh internal clicable requir
ccurately accned to ensund with applifunds within
h consideratithe Transp a system of ating to its omaking any reretain recorhe authority
determines ttype of debt t
that generatnsportation
on of capital nerally may nements are ou
tire all or a pused to achi
estructure thedebt. The Tlue basis to f refunding f
orts, continuding the inveements, etc. corporate thy or stored oarchiving tr
controls to erements of ap
count for allure that theicable laws. Tn the investmion of appl
portation Auf reporting inoutstanding equired filingrds as requi
to retain th
the use of dto be issued.
te funding foAuthority assets. In ac
not be used eutlined in the
portion of anieve present-e payment sTransportatio
identify ecfinancings a
uing disclosuestment of a
for all Tranese docume
on CD-ROMranscripts foensure comppplicable law
l interest ear TransportaThe Transpoment paramelicable yield uthority Invnterest earnindebt and Ings with State ired by its e services of
debt is appro.
or capital profunds inclu
ccordance wexclusively foe annual bud
n outstanding-value savingchedule, typ
on Authorityonomic effe
are detailed f
DEBT PO
RESOLUTION 1
Pa
ure reports, and project cnsportation Aents, possess
M). The Transr any new d
pliance with w.
rnings in debation Authorortation Autheters set forth
limits and estment Polngs that relatnternal Reven
and Federal tax certifica
f an Arbitrag
opriate, the
ojects. Eligibude the ac
with the philoor operating dget, the Strat
g bond issuegs on debt s
pe of debt iny must analects before further in Se
LICY 15-XX
ge 3 of 18
material costs paid Authority sion of a sportation debt. The the Debt
bt-related rity is in hority will h in each arbitrage
licy. The tes to and nue Code agencies.
ates. The ge Rebate
following
ble capital cquisition, osophy of expenses. tegic Plan
e or other ervice, to
nstrument lyze each approval. ection X:
67
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B. Ty
Wcr1.
NCISCO COUNT
5\Memos\01 Jan\Poli
ypes of Debt.
When the Trariteria will be. LONG-TE
The Tranbonds) whderived frmaintenanearliest offinanced, from the dFixed Raa) Curren
They be adchangipricingfund t
b) Zero Cwhen types coupozero-cinvestinteres
c) Specialprogramunicassist requirTransporder
Variable a) Variab
amortweeklygiven party lgeneraon anretain
TY TRANSPORT
cies\Att 04 Draft Debt
ansportation e utilized to eERM DEBT. sportation Ahen funding rom long-termnce. Long-terf the follow(b) the sunsedate of issuan
ate nt Coupon Bonmay be used
djusted to acing dollar amg, modifyingthe debt servCoupon and Ca
principal maof bonds ty
on bonds, thcoupon bonment amounst on the bonl Government Oam authorizcipal securitylocal governements allowportation Auto determineRate ble Rate Demtization but y, monthly, ocurrent mar
liquidity in thally allow boy rate reset an investme
TATION AUTHO
t Policy 2015.docx
Authority deevaluate the t
Authority mayallocations c
m borrowingrm debt will
wing: (a) 120et date of thence.
nds are bondd for both neccommodatemounts for pg call provisvice reserve fuapital Appreciaatures. Intereypically bear erefore repre
nds, principant received nd accretes uObligations (boed for calen
y, structure onments in accw the Transuthority will e which is the
mand Notes (the interest or such otherket conditiohe forms of L
ondholders todate, given cnt bank to re
ORITY
etermines thatype of debt t
y issue long-cannot be fig will not be be structure% of the exe current sale
ds that pay inew money ane the markeprincipal matsions, utilizinund and costation Bonds paest continueinterest at
esenting a mal paid at mat issuance.
until maturityoth tax-exemptndar years 2or tax creditcessing the csportation Aevaluate it
e most appro
(VRDBs) arerate resets
er period as tons. VRDBs Letters or Lio “put” theircertain noticemarket thes
at the use of to be issued.
-term debt (einanced fromused to fina
ed such that xpected averes tax Expen
nterest periond refundinget conditionsturities, offerng bond insuts of issuanceay interest ths to accrue orates that ar
more expensivmaturity is
In the casy. t and taxable),2009 and 2t authorized
capital markeAuthority to along with topriate for a
e long- termat certain e
the Transporoften requi
ines of Credir bonds backe. The Trane bonds that
f debt is appr.
e.g. fixed or m current revance current the obligatiorage useful nditure Plan
odically and g transactions at the timring discounurance, and e. hat is compoon the unpare higher thve funding odiscounted
e of capital
, such as the 2010 or anyd by the Fedets. So long a
adhere to traditional fiparticular iss
m bonds wiestablished prtation Authire credit enit and/or bonk to the Tran
nsportation At are “put.”
DEBT PO
RESOLUTION 1
Pa
ropriate, the
variable ratevenues. The operations o
ons do not exlife of the or (c) forty (
principal at ns. Bond featme of sale, nt and premi
determining
ounded and aid interest, aan those onoption. In th
back to thl appreciatio
Build Amery other typederal Governas the new pits Debt Po
inancing strusuance.
ith a fixed periods such ority deems
nhancement and insurancensportation A
Authority wil
LICY 15-XX
ge 4 of 18
following
e revenue proceeds
or normal xceed the project(s) (40) years
maturity. tures may including
ium bond g how to
paid only and these
n current-he case of he initial n bonds,
rica Bond e of new nment to program’s olicy, the uctures in
principle as daily,
advisable and third
e. VRDBs Authority ll need to
68
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2
3
NCISCO COUNT
5\Memos\01 Jan\Poli
b) IndexedCreditindex
. SHORT-TShort-termdeficits orevenue sothe Transpbe utilizeTransportborrowingrepaymena) Comme
the timmaintaaccessmillioncommfurthethe iss
b) Grant AState oGANs
c) Sales Trevenuthe isborrow
d) Lettersshort-
e) TranspUnitedregionif it is
f) Grant AenableThe Tflow s
. VARIABLE
To maintpreferencedebt is flovariable racosts, proliabilities.
TY TRANSPORT
cies\Att 04 Draft Debt
d Notes are ft. These formsuch as SIFM
TERM DEBT.m borrowingr anticipatedource with thportation Aued for funtation Authog. The Transt source or aercial Paper Nming of funain an ongos to capital fn tax-exemp
mercial paper er Board actiosuance of lonAnticipation Nor Federal gs only when Tax and Revenue cash flow sue fully cowings. s or Lines of Cterm borrow
portation Infrasd States Denal importancdetermined Anticipation R
e entities to fTransportatiohortfalls of g
E RATE DEB
tain a predice to debt thaoating or variate debt to dovide interimVariable rat
TATION AUTHO
t Policy 2015.docx
forms of vams of variabMA. The rate. g may be utild revenues, he anticipateuthority’s comnding of thority will deteportation Au
amortization Notes may be inding requireoing commerfunding whe
pt commercianotes withinon. The retirng-term bondNotes (GANs)grants of anythere is no onue Anticipatineeds consisnforms to F
Credit shall be wing options.structure Finanepartment oce. The Tranthat it is the Revenue Vehiclfund transpoon Authoritygrant revenueBT. ctable debt at carries a fiable rate debdiversify the m funding fote debt typic
ORITY
ariable rate dble rate debte will reset ei
lized for thewhere antic
ed amount bammercial paphe Transpoermine and uuthority may of principal, issued as an aements is unrcial paper pen needed. Ial paper pro
n the $200 mirement of cods or the repas) are short-tey type. The Tother viable sion Notes (TRstent with a fFederal tax r
considered a
nce Innovationf Transporta
nsportation Amost cost ef
cle Financing (Gortation projey may consides.
service burdfixed interestbt. It may beTransportatior capital prally has a lo
debt that dot have a fixeither on a we
e temporary cipated reveased on consper programortation Auutilize the le
y issue short-subject to th
alternative toncertain. Thprogram to In March 20ogram. Perioillion Board-
ommercial paaying of prinerm notes thTransportatioource of fun
RANs) shall finding by borequirements
as an alterna
n Act (TIFIAation for ce
Authority maffective debt GARVEE) aects that are der the issua
den, the Trat rate. An ale appropriateion Authoritrojects and
ower initial c
o not requireed spread toeekly, monthl
funding of oenues are deservative esti
m, short-term uthority’s caeast costly mterm debt w
he following o fixed rate dhe Transport
ensure flexi004, the Boaodic issuance-approved praper is most ncipal from chat are repaidon Authority
nding for the be issued o
ond counsel s and limita
ative to or cre
A) Loan is a lertain transpay elect to apfinancing opare bonds isssecured by
ance of GAR
ansportation lternative to e to issue shoty’s debt porimprove the
cost of borro
DEBT PO
RESOLUTION 1
Pa
e Letters or o a certain inly, or other b
operational cefined as animates. In thborrowings
apital projecmethod for shwhen there is
policies: debt, particulatation Authoibility and imard approvees or a retirrogram do nocommonly aash on hand
d with the proy shall generproject. nly to meet that that the
ations for ta
edit support
loan provideportation prpply for a TIption availablsued by the certain federRVEEs to m
Authority the use of f
ort-term or lrtfolio, reduce match of owing than f
LICY 15-XX
ge 5 of 18
Lines of ndentified basis.
cash flow n assured he case of
may also cts. The hort-term a defined
arly when ority may mmediate d a $200 ement of ot require a result of . oceeds of rally issue
sales tax e sizing of ax-exempt
for other
ed by the rojects of IFIA loan le. State and ral grants. meet cash
may give fixed rate long-term ce interest
assets to fixed rate
69
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V
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4
VIII. TERMS AN
The Tranand will Transpor
A. Te
AtoshT
NCISCO COUNT
5\Memos\01 Jan\Poli
financing circumstanpurpose orate debt ia) Variab
prograTranspdebt in20-30%risk an(1) A
plaincm
(2) Vanor
(3) AscosuPr
. FINANCIA
Financial the issuanthe derivaexpense ototal projthorough risk, tax rimpact onafter the Bother Finapproval f
ND CONDITIONS
nsportation Acontrol, m
rtation Autho
erm.
All capital impo exceed 120hould exceed
Transportatio
TY TRANSPORT
cies\Att 04 Draft Debt
and shorter nces will th
of earning arbin certain insble Rate Debtam (which isportation Aun considerati% variable rnd managing dequate Safeguace to preveclude, but aatching of as
Variable Revennticipated to r the dedicatis a Componen
onjunction wubject to othroducts. AL DERIVAT
Derivative Pnce or managative productor revenue, oect cost. Fievaluation o
risk, terminan the TranspBoard has adancial Derivfrom the Boa
S OF BONDS
Authority shamanage, and ority, the foll
provements f0% of the expd the lesser n Authoritys
TATION AUTHO
t Policy 2015.docx
maturities bhe Transportbitrage. The tances. t Capacity. Es not covereduthority will ion of generarate exposure
the variable uards Against ent adverse are not limissets and liabnue Stream. Tmove in the on of revenunt to Syntheti
with a financher provisio
TIVE PRODUC
Products suchgement of det will either or alternativeinancial Derof risks assoation risk anortation Aut
dopted separavative Produard.
all establish ainvest all
owing shall s
financed thropected averaof forty (40)
sales tax Exp
ORITY
but carries btation AuthoTransportati
Except for td by the follomaintain a cal rating agene, in additionrevenue streRisk. Financimpacts fro
ited to, intebilities. The revenue
same directiues allows capic Fixed Rate cial strategy,ons of the
CTS. h as interestebt only in inprovide a h
ely where thrivative Prodciated therew
nd liquidity rthority’s abiliate policy gucts. Derivati
all terms andbond proc
serve as bond
ough the issuge useful life) years or thenditure Plan
both interest ority issue vion Authority
the existing owing requirconservative ncy guidelinen to maintaieam both as dcing structurem interest r
erest rate sw
e stream forion as markepacity for va
e Debt. Varia, which resuDebt Policy
t rate swaps nstances whehedge that rehe derivative ducts shall with, includirisk, (2) afteity to refinanuidelines for ive products
d conditions ceeds. Unlesd requiremen
uance of debe of the assethe period ofn.
rate and liqvariable ratey, however, m
$200 milliorements of vlevel of out
es recommenining adequadescribed bee and budgerate shifts; swaps, interes
r repaymentet-generated variability. able rate bonults in synthy regarding
will be consere it has beeduces the r
product wilbe consider
ing counterper considerance bonds atthe use of in
s will only b
relating to thss otherwisents:
bt will be finats being finanf time until
DEBT PO
RESOLUTION 1
Pa
quidity risk. U debt solelymay conside
on commercvariable rate dtstanding varnding a maximate safeguardlow: tary safeguarsuch structurst rate caps
t is variablevariable inter
nds may behetic fixed r
Financial D
sidered approeen demonstrrisk of fluctull significantred only: (1party credit ration of the t a future datnterest rate swbe utilized w
he issuance oe authorized
anced for a pnced, and in sunset of th
LICY 15-XX
ge 6 of 18
Under no y for the er variable
cial paper debt), the riable rate mum of a ds against
rds are in res could
and the
e, and is rest rates,
e used in rate debt, Derivative
opriate in rated that uations in tly reduce ) after a
risk, basis potential
te and (3) waps and
with prior
of bonds, d by the
period not no event
he current
70
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B. Ca
TcoHisoobApap
C. Li
Sethu
D. Ad
Anthanse
E. De
Ddweaocam
F. Ca
Incodo
G. O
AAbaf
NCISCO COUNT
5\Memos\01 Jan\Poli
apitalized Inte
The nature oontinuously
However, cerssuance date therwise reqbviate unneceyond three
Authority mayroceeds of tpplied to ext
ien Levels.
enior and Juhe most criticse of the rev
dditional Bond
Any new seniet of any Fedhan one and ny Federal suervice for the
ebt Service St
Debt issuanceebt service t
within each liarly years of r may utilizapacity cons
maturities exc
all Provisions.
n general, thonventions, elivery of taxr a different
riginal Issue D
An original issAuthority det
onds and thaffect the proj
TY TRANSPORT
cies\Att 04 Draft Debt
rest.
f the Transpavailable an
rtain types ountil the p
quired, the Tcessarily incre
(3) years ory require thathe bonds. Inend the term
unior Liens focal constrainenue source
s Test.
ior lien debt deral subsidya half times
ubsidy or cree new issuanc
ructure.
e shall be plato the usefulien to achieva bond issuee more acce
straints. The cept in those
e Transportawhich is typx-exempt bocall feature i
Discount.
sue discountermines thatat the use of ject identified
TATION AUTHO
t Policy 2015.docx
portation Aund the use oof financingroject spons
Transportatioeasing the bor a shorter pat capitalized nterest earnin
m of capitalize
or each revent, typically eisecuring the
issuance muy or credit, to(1.5x) the m
edit, for the ace.
anned to achil life of facilive overall leve to maximizelerated repa
Transportatinstances wh
ation Authorpically no lands. The Tras appropriate
t or original it such discouf an original id by the bon
ORITY
uthority’s revof capitalizedgs may requisor has conson Authorityond issuance period if furt
interest on tngs may, at ed interest bu
nue source wither cost or bond.
ust not causeo exceed the
maximum annaggregate ou
ieve relativelyities. The Trvel debt serve the availabayment schetion Authorhere these ma
rity’s securitieter than tenansportatione in some cir
issue premiumunt or premiuissue discoun
nd document
venue streamd interest shire the use structive usey will avoid size. Interesther restrictethe initial serthe Transpo
ut in no even
will be utilizecapacity, thu
e the Transpe level at whinual principautstanding sen
y rapid repayransportationvice (though bility of pay-aedules after rity shall avoaturities serv
es will includn and one-han Authority mrcumstances.
m will be perum results innt or originals.
m is such thahould not no
of capitalizee of the finathe use of c
st shall not bed by statuteries of bond
ortation Authnt beyond the
ed in a mannus allowing fo
portation Auich the incomal, interest annior lien bon
yment of debn Authority wprincipal m
as-you-go dogiving consi
oid the use ve to level exi
de a call featalf (10.5) yemay determin
rmitted only n a lower trul issue premi
DEBT PO
RESOLUTION 1
Pa
at funds are ormally be ned interest anced projeccapitalized in
be funded (cae. The Transds be funded hority’s discre authorized
ner that will mfor the most b
thority’s debming revenuend debt servinds including
bt while still will amortize
may be deferrollars during tideration to of bullet or
isting debt se
ture, based oars from thene that no ca
y if the Transue interest coium will not
LICY 15-XX
ge 7 of 18
generally necessary. from the
ct. Unless nterest to apitalized) sportation
from the retion, be term.
maximize beneficial
bt service, es are less ce, net of
g the debt
matching e its debt red in the that time)
bonding r balloon ervice.
on market e date of all feature
sportation ost on the adversely
71
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IX
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H. De
DmAo
I. De
TwrewAoAceasut
J. M
Inmpth
X. CREDIT EN
The Tranevaluatingpositive Transporthe cost a
A. Bo
Tpoex
B. De
Wotwfuacin
NCISCO COUNT
5\Memos\01 Jan\Poli
eep Discount B
Deep discounmay also limAuthority will
f the lower-t
erivative Produ
The Transporwhere it has educes risk o
will reduce thAuthority sha
f these derivAuthority willertain financissociated witilized with p
Multiple Series.
n instances wmake a final d
riority finanche earliest or
NHANCEMENTS
nsportation Ag the economimpact on
rtation Authoand benefit o
ond Insurance
The Transporurchase is den such insuxpense on in
ebt Service Re
When requireriginal princwenty-five (1unded from ccordance winvestors requ
TY TRANSPORT
cies\Att 04 Draft Debt
Bonds.
nt bonds mamit opportuni
l carefully cothan-market c
ucts.
rtation Authbeen demon
of fluctuationhe total pro
all develop anvative producl undertake aing and markth the use o
prior approva
.
where multipdeterminationcing, based omost senior
S
Authority wmic benefit voverall deb
ority will conof such enhan
.
rtation Autheemed pruderance being
nsured bonds
eserves.
ed, a reserve cipal amount25%) percenthe proceed
ith the requiruirements.
TATION AUTHO
t Policy 2015.docx
ay provide a ities to refin
onsider their coupon.
hority will constrated thatns in expenseoject cost. Ifnd maintain acts. For derivan analysis ofketing assumof a particulal from the B
ple series of bn as to whichon funding av
of the bond
will consider versus cost fot capacity c
nsider each oncement.
ority shall haent and advaless costly
versus unins
fund equal t of the bonnt of averageds of each srements of c
ORITY
lower cost onance at lowvalue and th
onsider the t the derivate or revenue,f interest ratan Interest Rvatives otherf early termin
mptions. Suchlar derivativ
Board.
bonds are toh allocations vailability and
d series.
the use of or each case.can be showf the followi
ave the authantageous. Tthan the prsured bonds.
to not morends, maximue annual debteries of bonredit enhanc
of borrowinwer rates in he effect on
use of derivtive product , or alternativte swaps areRate Swap Por than interenation costs h analysis wilve product. D
o be issued, tare of the hid proposed t
credit enhan. Only when wn shall ening enhancem
hority to purThe predominresent value .
e than the leum annual dt service (thends, subject cement provi
ng in certain n the future.any future re
vative produwill either p
vely, where te consideredolicy governiest rate swapand other coll document Derivative p
the Transporighest prioritytiming, will g
ncement on a clearly dem
nhancement ments as alte
rchase bond nant determiof the diffe
esser of ten debt service e “Reserve Rto federal ta
iders, rating a
DEBT PO
RESOLUTION 1
Pa
markets tho The Transefinancings a
ucts only in provide a hethe derivatived, the Transing the use a
ps, the Transonditional terthe risks and
products will
rtation Authoy. Projects ch
generally be s
a case-by-camonstrable sbe conside
rnatives by e
insurance wination shall erence in the
percent (10%or one-hund
Requirement”ax regulationagencies and
LICY 15-XX
ge 8 of 18
ough they sportation as a result
instances edge that e product sportation and terms sportation rms given d benefits l only be
ority shall hosen for subject to
ase basis, savings or ered. The evaluating
when such be based
e interest
%) of the dred-and-”) shall be ns and in /or other
72
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X
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Tueqb
C. Li
TofiMfrA
X. REFINANCI
The TranrefundingTransporopportun
A. De
Torehreisfonb
B. Re
Tinsare
C. Te
THacTrege
NCISCO COUNT
5\Memos\01 Jan\Poli
The Transporse of a reserquivalents shasis.
iquidity Faciliti
The Transporf-credit agreeinancial insti
Moody’s Inverom at least t
Authority liqu
ING OUTSTAND
nsportation g opportunitrtation Authnities:
ebt Service Sa
The Transporf three (3) peasons for das establisheefunded bonssuance of syor defeasanceet of all costasis must be
estructuring.
The Transpornclude restruavings, mitigestrictive bon
erm of Refundi
The TransporHowever, thechieve a d
Transportatioealize greaterenerational e
TY TRANSPORT
cies\Att 04 Draft Debt
rtation Authorve fund surhall be evalua
ies and Letters
rtation Authoements whenitutions withestor Servicetwo of the thuidity facilitie
DING DEBT
Authority shties that mayhority will c
avings.
rtation Authopercent of thdefeasance uned a minimund principal ynthetic fixedeundertakingts related to texplicitly ap
rtation Authoucturing to mgate irreguland covenants
ing Issues.
rtation Authe Transportaesired outcon Authority
r savings. Theequity should
TATION AUTHO
t Policy 2015.docx
ority shall harety) when suated in comp
s of Credit.
ority shall han such agree
h short-term s, Standard &hree aforemees and letter o
hall have thy be presentconsider the
ority has esthe refunded bndertaking thum present amount for
d rate refundg the refundithe refinancinproved by th
ority will refumeet unanticip
r debt servis.
ority will refation Authorome, providmay also cone remaining
d guide this d
ORITY
ave the authuch purchaseparison to ca
ave the authoments are deratings of n
& Poor’s andentioned ratinof credit agre
he responsibied by undere following
ablished a mbond principhe refundingvalue saving
r refinancingding debt serving. TheFor tng. The decihe Transporta
und debt whepated revenuice payment
fund bonds writy may conded that sunsider shorteuseful life of
decision.
ority to purce is deemed ash funding o
ority to entereemed prudenot less thad Fitch Ratinngs agencieseements.
ility to analyrwriting and/
issues whe
minimum prepal amount ug. Additionags threshold gs involving vice unless ththis purposesion to take ation Author
en in its bestue expectatiots, release r
within the tensider maturuch extensiening the terf the financed
chase reserveprudent and
of reserves o
r into liquiditent and advaan VMIG 1/ngs, respectivmay particip
yze outstand/or financialen analyzing
esent value sunless there
ally, the Trangoal of fivderivative p
here are othee, the presentsavings on arity Board.
t interest to dons, terminateserve fund
erm of the ority extensionion is legalrm of the orid facility and
DEBT PO
RESOLUTION 1
Pa
e equivalentsd advantageoon a net pres
ty facilities aantageous. O/P1, A-1 anvely, and wit
pate in Trans
ding bond il advisory fig possible r
avings threshare other co
nsportation Ave (5) percenproducts sucer compellint value savingan upfront or
do so. Refunte swaps, ach
ds or remov
originally issun, when neclly permissibiginally issue
d the concept
LICY 15-XX
ge 9 of 18
s (i.e., the ous. Such sent value
and letter-Only those nd F1, by th ratings
sportation
ssues for irms. The refunding
hold goal ompelling Authority nt of the ch as the g reasons gs will be r deferred
dings will hieve cost ve unduly
ued debt. cessary to ble. The
ed debt to t of inter-
73
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X
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D. Es
Trevencocoththunfr
E. Ar
Tnac
F. Co
Tp
XI. METHODS
The Trancompetiti
A. Co
Inpthfo
NCISCO COUNT
5\Memos\01 Jan\Poli
scrow Structur
The Transpoefunding escersus legal deot a broker-dompetitive bost effective he securities he case of SLnderwriter, arom its own a
rbitrage.
The Transporegative arbitrccording to F
ommercial Pap
The requiremaper notes fo
OF ISSUANCE
nsportation ively or throu
ompetitive Sal
n a competiroviding the he official noollows:
a) Bond b) Markec) Partici
requird) There
mediae) The bf) Bond g) Managh) Issueri) Issuer
TY TRANSPORT
cies\Att 04 Draft Debt
ring.
rtation Authcrows. The Tefeasance ondealer, is req
bid process (ithan State anwas reasonaLGs purchasagent or finaaccount.
rtation Authrage in its reFederal guide
per Program.
ments of this or the purpos
Authority wugh negotiati
e
itive sale, thlowest true i
otice of sale.
prices are staet timing andipation fromed for winninare no comp
a coverage, poond type andinsurance is geable transar has strong cr is well know
TATION AUTHO
t Policy 2015.docx
hority shall uTransportatio
n a net presenuired statingin the case ond Local Go
able within Fsed directly fancial adviso
hority shall taefundings. Anelines.
Section X sse of refundi
will determinion.
e Transportinterest cost Conditions
able and/or dd interest rate
m Disadvantagng bid plex explanatolitical structd structure arincluded or p
action size credit ratingwn to investo
ORITY
utilize the leon Authoritynt value basisg that the secof open markovernment OFederal guidefrom the U.Sor sell escrow
ake all necesny resulting
shall not apping maturing
ne, on a ca
ation Authoas long as thunder which
demand is ste sensitivity aged Business
tions requireture, politicalre conventionpre-qualified
ors
east costly sy will examis. A certificaturities were ket securities
Obligations (Selines. Such cS. Treasury. w securities
ssary steps topositive arbi
ply to or resg commercial
ase-by-case b
ority’s bondshe bid adhereh a competiti
trong are not criticas Enterprise (
ed during mal support, funnal
d (available)
securities avine the viabte from a thiprocured thrs), that such SLGS), and tcertificate shUnder no cto the Tran
o optimize eitrage will be
strict the issl paper notes
basis, wheth
s shall be awes to the reqive sale woul
al to the prici(DBE) firms
rketing regarnding or cred
DEBT PO
RESOLUTION 1
Pag
vailable in stbility of an eird party agenrough an armsecurities w
that the pricehall not be recircumstancesnsportation A
escrows and e rebated as
suance of co.
her to sell i
warded to thuirements seld be preferr
ing s is best effor
rding issuer’sdit quality
LICY 15-XX
e 10 of 18
tructuring economic nt, who is
ms-length, were more e paid for equired in s shall an Authority
to avoid necessary
ommercial
its bonds
he bidder et forth in red are as
rt and not
s projects,
74
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B. N
TC
C. Pr
FplTura
D. Is
Tfo
E. In
Twad
F. Fe
Isre
NCISCO COUNT
5\Memos\01 Jan\Poli
egotiated Sale
The TransporConditions un
a) Bond b) Demac) Marked) Issuere) Issuerf) Sale a
projecg) The b
deliverprodu
h) Bond i) Early j) The pk) Demal) Partici
rivate Placeme
From time tolacement sha
Transportatiosing the Tranate.
ssuance Metho
The Transpororth above.
nvestor Outreac
The Transporwith institutiodvantageous
easibility Analy
ssuance of reevenue stream
TY TRANSPORT
cies\Att 04 Draft Debt
e.
rtation Authonder which a prices are vo
and is weak oet timing is imr has lower orr is not well kand marketincts, media covbond type ary bond sale,
ucts insurance is structuring aar amount fo
and for the boipation from
ent.
o time the Tall only be cn Authority nsportation A
od Analysis.
rtation Auth
ch
rtation Authonal investorto the sale o
ysis.
evenue bondm’s ability to
TATION AUTHO
t Policy 2015.docx
ority recogninegotiated s
olatile or supply or cmportant, sucr weakening
known to invng of the boverage, politi
and/or struc, issuance of
not availableand market por the transaconds by retai
m DBE firms
Transportatioconsidered ifrelative to otAuthority’s in
ority shall ev
hority shall prs in advanceof such bond
ds will be ac meet future
ORITY
zes that somsale would be
competing boch as for refucredit rating
vestors onds will reqical structure
ctural featurevariable rate
e or not offerarticipation bction is signifil investors isis required
on Authorityf this methother methodsnvestment ra
valuate each
participate ine of bond os or notes.
ccompanied debt service
me securities e preferred ar
onds is highundings
g
quire complee, political sues are non-se bonds, or w
red by underwritficantly larges expected to
y may elect od is likely ts of debt issuate as the app
method of
n informatioor note sales
by a findinge payments.
are best soldre as follows
ex explanatioupport, fundinstandard, su
where there is
ters are desireer than normo be high
to privately to result in auance on a npropriate me
issuance bas
onal meeting to the exte
g that demon
DEBT PO
RESOLUTION 1
Pag
d through nes:
ons about thng, or credit
uch as for as the use of d
ed mal
place its dea cost savinget present vaeasure of the
sed on the fa
s or confereent such mee
nstrates the
LICY 15-XX
e 11 of 18
gotiation.
he issuer’s quality
a forward derivative
ebt. Such gs to the alue basis, e discount
actors set
ence calls etings are
projected
75
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SAN FRAN
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M:\Finance\201
XII. MARKET R
A. Ra
TreTagshadm
B. Tr
Tagw
C. Co
AcoanreevM
D. Re
Taranpshth
E. Ot
FenthquTtow
F. Fe
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NCISCO COUNT
5\Memos\01 Jan\Poli
RELATIONSHIPS
ating Agencies
The Executivelationships
Transportatiogencies as cirhall: (1) meetdvantageous,
meetings with
ransportation A
The Executivgencies and/
weaknesses an
ontinuing Disc
After enteringomply with tnd reflects neasonable stevent notices
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ebate Reportin
The use of borbitrage restrny bond issurovisions of hall take all rhat facilitates
ther Jurisdicti
From time tontities. Whilehese entities, uality financi
Transportatioo the Transp
where necessa
ees.
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Authority by i
TY TRANSPORT
cies\Att 04 Draft Debt
S
s and Investors
ve Director with Moodn Authority rcumstances t with credit , and (2) pri
h agency analy
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ve Director s/or investornd recommen
closure.
g into a Cothe terms of negatively oneps to ensurwith the Mus system (EM
ng.
ond proceedsrictions. Exisues, with re
f the Internareasonable sts accurate, co
ons.
o time, the Te the Transpthe Executiv
ings are donen Authority
portation Autary, through
rtation Authohe recipient’sissuing debt.
TATION AUTHO
t Policy 2015.docx
s.
shall be respdy’s Investor
may, from tidictate. In aanalysts prioior to each ysts in conne
munication.
shall include rs regarding ndations for
ntinuing Dissuch underta
n the Transpre that the Tunicipal SecuMMA).
s and their insting regulatiebate paid eval Revenue Cteps to ensur
omplete calcu
Transportatioportation Auve Director we and that thshall requirethority’s ratinthe use of cr
ority will chas pro rata sh
ORITY
ponsible forrs Service, Sime-to-time, ddition to geor to each sacompetitive ection with th
in the annuthe Transp
addressing a
sclosure undaking. The faportation AuTransportatiourities Rulem
nvestments mions require tvery five yeCode and rere that proceulation, and t
on Authorityuthority will will take all rehe Transportae that all conngs or that t
redit enhance
arge recipienthare of admin
r maintainingStandard & choose to d
eneral commale (competiti
or negotiatehe planned s
ual report toportation Auany weakness
dertaking, thfailure to makuthority. Theon Authority
making Board
must be monthat issuers c
ears and as egulations. Teeds and invtimely rebate
y may issue make every easonable steation Authornduit financinthe credit enement).
ts of debt issnistrative cos
g the TransPoor’s and
deal with onlymunication, th
ive or negotied sale, offesale.
o the Board uthority’s finses.
he Transportke timely filine Executive y’s files timeld’s (MSRB’s)
nitored to encalculate annotherwise re
Therefore, thvestments ares, if necessar
bonds on beffort to fa
eps to ensurerity is insulatngs achieve
nhancement
suance procests incurred b
DEBT PO
RESOLUTION 1
Pag
portation Ad Fitch Ratiy one or twohe Executiveiated) to the
er conference
feedback fronancial stren
tation Authongs must be Director willy annual repElectronic M
nsure complianual rebates required by ae Executive e tracked in ary.
behalf of othacilitate the de that only thted from all ra rating at leis obtained(i
eeds an admiby the Trans
LICY 15-XX
e 12 of 18
uthority’s ngs. The
o of these e Director
extent as e calls or
om rating ngths and
ority shall disclosed ll take all ports and Municipal
ance with related to applicable
Director a manner
her public desires of he highest risks. The east equal including,
inistrative sportation
76
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X
SAN FRAN
DRAFT
M:\Finance\201
XIII. CONSULTA
The Tranprocess th
A. Se
TB
B. Fi
Tdad
Fb
TTT
C. Bo
TTAdocoby
T
NCISCO COUNT
5\Memos\01 Jan\Poli
ANTS
nsportation Ahrough Requ
election of Fin
The ExecutivBoard providi
inancial Adviso
The Transporebt administdvisor(s) shal
a) Experb) Knowc) Experd) Fees a
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a) Evaluab) Monitc) Evalua
bankind) Structe) Prepar
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ond Counsel.
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eterminationther documeounsel with ey the Transp
The services o
TY TRANSPORT
cies\Att 04 Draft Debt
Authority shuest for Prop
ancing Team M
ve Director wing final appr
or.
rtation Authtration procell be based o
rience in provwledge and exrience and repand expenses
isory servicesthe followingation of riskstoring markeation of prong firms uring and prration of reqg agent service, assistance ing in prepar
ortation Autn Authority n Authority
n Authority n Authority s met all conn of the proents relatingextensive exp
portation Aut
of bond coun
TATION AUTHO
t Policy 2015.docx
all select its posals.
Members.
will make recroval.
ority shall utesses as prudon, but not limviding consuxperience in sputation of a
s
s provided tog: s and opportting opportuoposals sub
icing quest for prces, printing,and preparat
ration of offi
thority also with object
financial plan
debt will incis authorize
nstitutional aposed debt’s
g to the issuperience in pthority throu
nsel may incl
ORITY
primary con
commendatio
tilize a finandent. Selectiomited to, the
ulting servicesstructuring anassigned pers
o the Transp
tunities assocunities mitted to th
roposals for credit facilittion for presicial statemen
expects thtive advice ns, and be fre
clude a writteed to issue and statutorys federal incuance of debpublic financegh its reques
ude , but are
nsultant(s) by
ons for all fi
ncial advisor on of the Tre following crs to complexnd analyzingsonnel
portation Aut
ciated with de
he Transpor
other finanties, remarketentations witnts
hat its finaand analysisee from any
en opinion bthe propose
y requiremencome tax stabt will be pe and tax issust for propos
e not limited
y competitiv
inancing team
to assist in ransportationriteria: x issuers g complex iss
thority shall
ebt issuance
rtation Auth
ncial servicesting agent seth rating age
ancial advisos, maintain tconflicts of i
by legal couned debt, thants necessaryatus. The apprepared by ues. The cCosal process.
to:
DEBT PO
RESOLUTION 1
Pag
ve qualificatio
m members,
its debt issun Authority’s
sues
include, but
hority by in
s such as truervices, etc. ncies and inv
or will prothe confideninterest.
nsel affirmingat the Transy for issuanc
pproving opinationally-re
ounsel will be
LICY 15-XX
e 13 of 18
ons-based
with the
uance and s financial
shall not
nvestment
ustee and
vestors
ovide the ntiality of
g that the sportation ce, and a inion and ecognized e selected
77
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X
SAN FRAN
DRAFT
M:\Finance\201
a)
b)
c)
d)
e)
XIV. UNDERWR
A. Se
Tn
B. Co
Cqusi
C. Se
Tthgrdi
D. U
InreT
NCISCO COUNT
5\Memos\01 Jan\Poli
) RenderingobligationState of C
) Preparing delivery o
) Assisting paper mem
) Participatirequested;
) Providing proceeds requireme
RITER SELECTIO
enior Manager
The Transporegotiated sal
a) The fib) Democ) Prior kd) The fie) The fif) Qualit
engageg) Financ
o-Manager Se
Co-managers ualifications,ize and the n
elling Groups.
The Transporhat selling grroups from ictates.
nderwriter’s C
n any negotiepresent the
Transportatio
TY TRANSPORT
cies\Att 04 Draft Debt
g a legal opns including wCalifornia law
all necessaryf bonds and
in the prepamorandum;
ing in discus; and
g continuing under applic
ents.
ON
r Selection.
rtation Authe. The criteriirm’s ability aonstrated abilknowledge anirm’s willingnirm’s ability tty and expeement cing plan pre
lection.
will be sele, co-manager
necessity to en
rtation Authoroups are uswithin the
ounsel.
iated sale of e underwriten Authority
TATION AUTHO
t Policy 2015.docx
pinion with whether the
w;
y legal documother obligat
ration of the
ssions with p
advice, as recable laws an
hority shall hia shall includand experienclity to structund experiencness to risk cto sell bondserience of
esented
ected on thers appointednsure maxim
ority may estsed, the Tranpool of und
f Transportater, the leadconsent.
ORITY
respect tointerest paid
ments in contions;
e preliminary
potential inv
equested, onnd the indent
have the righde but not bece in managiure debt issuece with the Tapital and de
personnel a
same basis to specific
mum distribut
tablish sellingnsportation Aderwriters o
tion Authorid underwrite
o authorizatid on the deb
nnection with
y and final o
vestors, insur
n the properture, particul
ht to select ae limited to ting complex es efficiently
Transportatioemonstration
assigned to
as the senitransactions tion of the T
g groups in cAuthority mr from outs
ity debt in wer will mak
ion and valbt is tax exem
h authorizati
fficial statem
rers and cre
r use and adlarly arbitrag
a senior manthe followingtransactions
y and effectivon Authority n of such risk
the Transp
ior manager.will be a fu
Transportatio
certain transamay make appside the poo
which legal cke the appo
DEBT PO
RESOLUTION 1
Pag
lid issuance mpt under fe
on, sale, issu
ments and co
dit rating ag
dministrationge tracking an
nager for a g:
vely
k
portation A
. In additionunction of trn Authority’
actions. To tpointments ol, as the tr
counsel is reointment, su
LICY 15-XX
e 14 of 18
of debt ederal and
uance and
ommercial
gencies, if
of bond nd rebate
proposed
uthority’s
n to their ransaction s bonds.
the extent to selling
ransaction
quired to ubject to
78
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SAN FRAN
DRAFT
M:\Finance\201
E. U
F. Ev
Tfooan
Fre
G. Sy
Fdensa
H. De
TthT
I. D
Aagmagadb
NCISCO COUNT
5\Memos\01 Jan\Poli
nderwriter’s Da) The T
compaTranspmanagphase
b) All feecap ocommsubmiadditio
valuation of Fin
The Transporollowing: cosf the overallnd sales cred
Following eacesults of the
yndicate Polici
For each negoescribe the nsure receiptale prior to th
esignation Pol
To encouragehe Transport
The Transpora) Equitab) Compc) Within
ordersAutho
isclosure by Fi
All financing greements w
may vary depgreements bdvice which e perceived a
TY TRANSPORT
cies\Att 04 Draft Debt
iscount. Transportatioarable issues portation Augement fee. Tof the transa
es and allocan manageme
municated to it an itemizedonal expense
nancing Team
rtation Authsts of issuancl interest cos
dits.
ch sale, the Tsale to the B
ies.
otiated transdesignation t of each mehe sale date.
icies.
e the pre-matation Authortation Authoably allocate ply with MSRn 10 workings, allocationsority’s sale.
inancing Team
team membewith other finpending on te permitted is solely in thas a conflict o
TATION AUTHO
t Policy 2015.docx
on Authority in the markeuthority willThe determiaction. tion of the ment fee, expall parties by
d list of expees must be su
Performance.
hority will evce, including st and on a
Transportatioard.
action, the Epolicies govember’s ackn
arketing efforority’s bonds ority shall reqbonds to oth
RB regulationg days after ts and other
m Members.
ers will be renancing teamthe nature owhich could
he Transportof interest.
ORITY
will evaluateet. If there arl determine nation will b
management enses and uy the Transpenses chargedubstantiated.
valuate each underwritersmaturity-by-
ion Authorit
Executive Diverning the unowledgemen
rts of each mwill be net
quire the seniher managersns governing the sale dater relevant in
equired to prm members af the transacd compromitation Autho
e the proposre multiple uthe allocati
be based upo
fee will be dunderwriter’sportation Aud to member
bond sale as’ compensat-maturity bas
ty shall prov
irector will pupcoming sant of the syn
member of tdesignated, ior managers and the sellthe priority o
e, submit to tnformation p
rovide full anand outside ction. Howeise the firm’
ority’s best in
sed underwriunderwriters iion of fees on participati
determined p counsel wi
uthority. Thers of the und
after its comtion, pricing sis, and the d
vide a post-s
prepare syndiale. The Exendicate polic
the underwriunless otherto:
ling group of orders andthe Executivpertaining to
nd complete parties. The
ever, under n’s ability to
nterests or wh
DEBT PO
RESOLUTION 1
Pag
iter’s discounin the transawith respec
ion in the st
rior to the saill be establi senior manaderwriting gr
mpletion to aof the bondsdistribution
ale evaluatio
icate policiesecutive Direccies for the u
iting team, orwise express
d allocationsve Director ao the Trans
disclosure, re extent of dno circumstaprovide ind
hich could re
LICY 15-XX
e 15 of 18
nt against ction, the ct to the tructuring
ale date; a shed and ager shall
roup. Any
assess the s in terms of bonds
on on the
s that will ctor shall upcoming
orders for sly stated.
a detail of sportation
relative to disclosure ances will dependent easonably
79
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SAN FRAN
DRAFT
M:\Finance\201
Arbitrage. interest eregulationexempt m
Balloon Mpercentag
Bullet MatCall Provisoutstandipar. Capitalizedfor a spec
Commerciaand usual
Competitivsubmit se
Continuingwhich porespect to
Credit Enmost comlines of cr
DBE. Dipolicy.
Debt Servipledged r
Deep DiscDerivativesone or mbased upoforeign ex
Designatiosyndicateallocated designatioDesignate
Escrow. Aissue.
NCISCO COUNT
5\Memos\01 Jan\Poli
The differenearned by ins govern arbmunicipal sec
Maturity. A lage of the prin
turity. Maturi
isions. The tering issue of b
d Interest. A pcific period o
al Paper. Verylly backed by
ve Sale. A salealed bids to
g Disclosure. Totential inveso the securiti
nhancement. Crmmon creditredit. sadvantaged
ice Reserve Funrevenues are
count Bonds. Bs. (1) Financi
more underlyion notional axchange rate
n Policies. Ou is oversubscamong the
on policy. Thed orders and
A fund establi
TY TRANSPORT
cies\Att 04 Draft Debt
nce between investing thebitrage earne
curities.
ater maturityncipal amoun
ty for which
rms of the bobonds prior
portion of thof time. Inter
y short-term, y a line of cre
e of securitipurchase the
The principlestors would es be made a
redit supportt enhancemen
Business En
nd. The fund insufficient t
onds that are
ial instrumenng index or amounts whos, equities or
utline as to hcribed. The s syndicate. he highest prd Member or
ished to hold
TATION AUTHO
t Policy 2015.docx
the interest e security ded pursuant t
y within an nt of the orig
there are no
ond contractto their state
he proceeds orest is commo
unsecured pedit with a ba
ies by an isse securities in
e that accurabe likely to
available on a
t purchased nts consist o
nterprises as
in which moto satisfy the
e priced for s
nts whose retsecurity, andose value is dr commoditie
how an invesenior managThere are triority is giverders are give
d moneys ple
ORITY
GLOSSARY
paid on thedebt proceedto the investm
issue of boginal issue.
o sinking fund
t giving the ised dates of m
of an issue thonly capitaliz
promissory nank. suer in whichn contrast to
ate and como consider man ongoing b
by the issueof bond insu
defined by
oneys are pladebt service
sale at a subs
turn profile id may includederived fromes). estor’s order ging underwrthree primaren to Groupen the lowes
edged and to
an issue of tds in higherment of on t
onds that co
d payments p
ssuer the righmaturity at a
hat is set asidzed for the c
notes issued i
h underwritea negotiated
mplete informmaterial in mbasis. er to raise thurance, direct
the Transpo
aced which me requiremen
stantial discou
s linked to, oe a leveragin
m an underlyin
is filled whriter and issury classificatip Net orderst priority. be used to p
tax exempt sr-yielding tathe proceeds
ontains a dis
prior to the s
ht to redeemspecific pric
de to pay intonstruction p
in either regi
ers or syndid sale. mation matermaking inves
he credit ratit or standby
ortation Auth
may be used nts. unt from the
or derived frong factor, or ng index or s
hen a maturituer decide shions of ord; the next pr
pay debt serv
DEBT PO
RESOLUTION 1
Pag
ecurities debaxable securi
from issuan
sproportiona
stated maturi
m all or a portce, usually at
erest on the period of the
stered or bea
cates of und
rial to the trtment decisi
ting of the isy letters of cr
hority’s curr
to pay debt
eir face or pa
om, the mov(2) financial security (inter
ty in an undhow the bondders, which riority is give
vice on an ou
LICY 15-XX
e 16 of 18
bt and the ities. IRS ce of tax-
tely large
ity date. tion of an or above
securities e project. arer form,
derwriters
ransaction ions with
ssue. The redit, and
rent DBE
service if
ar value. vement of contracts rest rates,
derwriting ds will be form the en to Net
utstanding
80
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SAN FRAN
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M:\Finance\201
Expenses. DTC chacomputer
Grant Anprojects,
Grant Anto fund tr
Letters of Cspecified
Managemethe struct
Members. UNegotiatedpursuant
Original Ioffering p
Original Isamount a
Pay-As-Yobligation
Present VaPrivate Plopposed
Rebate. A pay the IRbond yielprofit pen
Sales Tax for operasources.
Selling Grrather as distributio
Syndicate Pprice limi
Transportathe Unite
Underwriteto investo
NCISCO COUNT
5\Memos\01 Jan\Poli
Compensatearges, travelr time and po
nticipation Notwhich are pa
nticipation Reveransportation
Credit. A banamount of f
ent Fee. The fturing phase
Underwriter
d Sale. A meto which suc
Issue Discount.price at the ti
ssue Premium. at the time it
You-Go. An issns.
Value. The cur
lacement. The to being pub
requirementRS an amounld calculatednding payme
and Revenue Aating purpos
roups. The grthose who
on at the pub
Policies. The itations and m
ation Infrastruced States Dep
ter. A dealer tors.
TY TRANSPORT
cies\Att 04 Draft Debt
es senior m, syndicate eostage. tes (GANs). Said from the
enue Vehicle Fn projects tha
nk credit facilfunds for a lim
fixed percentof a transact
s in a syndica
ethod of salch underwrit
. The amounime it is origi
The amountis originally o
suer elects to
rent value of
original plablicly offered
t imposed bynt equal to it
d pursuant toent subject to
Anticipation Nses, which ar
roup of secureceive secu
blic offering
contractual omarket transa
cture Finance Ipartment of T
that purchase
TATION AUTHO
t Policy 2015.docx
anagers for expenses, de
Short- term proceeds of
Financing (GAat are secured
lity supportinmited term.
tage of the grtion. ate other than
le in which ter will purch
nt by whichinally offered
t by which thoffered to an
o finance a p
f a future cas
acement of d or sold. y the Tax Rets profit earno the IRS coo certain exce
Notes (TRANre paid from
urities dealersurities less thprice. obligations pactions.
Innovation ActTransportatio
es new issue
ORITY
out-of-pockealer fees, o
notes issuedState or Fed
ARVEE) are d by certain
ng the payme
ross spread w
n the senior
the issuer chase and mark
h the originad to an invest
he public offn investor.
project with
h flow. an issue wit
eform Act oned from inveode togethereptions.
Ns). Short-termm the procee
s who partiche selling co
placed on th
ct (TIFIA). Loon for transp
s of municip
ket expenses overtime exp
d by the goveral grants o
bonds issuefederal grant
ent of bonds
which is paid
underwriter.
chooses oneket the bond
al par amountor. fering price o
existing cash
th one or a
f 1986 wherestment of br with all inc
m notes issueds of sales
cipate in an oncession fro
he underwriti
oans and loaportation pro
pal securities
including: upenses, comm
vernment unf any type.
ed by the Stats.
wherein the
d to the man
. e underwriteds. nt of an issu
of an issue e
h flow as opp
a limited num
reby the issuebond proceedcome earned
ued by a govtax or other
offering notom the mana
ing group re
an guaranty ojects of regio
from the Is
DEBT PO
RESOLUTION 1
Pag
underwritersmunication
nit, usually fo
ate and enabl
e bank agrees
naging underw
er to negotia
ue exceeds i
xceeds its or
posed to issu
mber of inv
er of the bods at a yield ad on the acc
vernment unir anticipated
t as underwraging underw
elating to dis
program proonal importa
ssuer and res
LICY 15-XX
e 17 of 18
counsel, expenses,
for capital
le entities
s to lend a
writer for
ate terms
its public
riginal par
uing debt
vestors as
nds must above the cumulated
it, usually d revenue
riters but writer for
tribution,
ovided by ance.
sells them
81
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SAN FRAN
DRAFT
M:\Finance\201
UnderwriteIssuer an
Variable Rformula o
NCISCO COUNT
5\Memos\01 Jan\Poli
ter’s Discount. d the price at
Rate Debt. Anor other stan
TY TRANSPORT
cies\Att 04 Draft Debt
The different which they
n interest ratdard of meas
TATION AUTHO
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. INTRODUCT
The Fiscaday-to-dathe San FconsistenPropositiaccountin
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TION
al Policy is day operationsFrancisco Cont with theion K Sales ng and financ
D AUTHORITY
cal Policy ape to the opeecifically proTransportat
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UDGET PROCES
nsportation Ae purpose oment of Traned by the Brtation AuthoThe TranspJune 30 of in the develo
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designed to gs, annual budounty Transpe Transporta
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guide decisiodget developportation Autation Authonditure Plan,ment practice
to the operany project sFiscal Policy ty’s Strategic
n shall be thementation of nd managingsportation Auted as requireject to appro
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AL POLICY
ons pertainingment and sathority (Tranority’s adop, federal ands.
rations of thsponsoring ais separate fr
c Plan, adopte responsibilif the Policy, ag the Transputhority Exeed or deemedoval by the Bo
opt an Annuto provide
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ecutive Direcd advisable aoard at a pub
ual Budget bmanagemen
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rvice Expensof the TranSales Tax (
nd San Francintal budget dhat support nal categorie
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l fiscal managnue allocationAuthority). Itnistrative Coulations, and
rtation Auththe Transporould be appliolicy, and adoransportationay responsibuthority’s po
ctor (Executivat least once blic meeting.
by the beginnnt guidance
with the goalsding, but nodvantaged buJuly 1 of eaw further d
paration of aevenues, inclses as applica
nsportation A(Prop K) Aisco Programdocumentatiothe Capital
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CAL POLICY SOLUTION 15-XX
Page
gement, inclun requirement is intended ode, the cud general pru
hority and isrtation Authied in conjunopted Invest
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Attachment 5 83
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B. PUBLIC
The draftof a publby the BSection 6hearing, ahearing.
C. ADOPTI
As eAuthoand cparamRevieadopt
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D. AMEND
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V. BUDGET RE
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CO COUNTY TR
mos\01 Jan\Policies\At
C REVIEW OF DRA
t budget shallic hearing atoard. Notice
6061 of the Cand the draf
ON OF A FINAL BU
stablished bority Finance
capital budgemeters (spendew of a Dration of the dr
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pt as otherww or reopen
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nded final buution.
EQUIREMENTS
ISTRATIVE OPERAT
inistrative otenance of thas staff sala
ific requireme
ALARIES AND BENThe Board shPursuant to the Californiamit of one penefits of Prll other staff
RANSPORTATIO
tt 05 Draft Fiscal Policy
FT BUDGET
ll be presentet a publicly ne of the timeCalifornia Goft budget sha
UDGET
by the Transe Committeet of the Tranding limits)
aft BudgetPrraft budget t
for a given fie prior fisca
30, it must arvice. The coopted.
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wise providedner after the the fiscal yeang the fiscal he adopted fiamended adoudget to the
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TING EXPENSES
operating exhe Transporaries, staff bents with res
NEFITS hall budget ahe Transpor
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ON AUTHORITY
y 2015.docx
ed at a publinoticed Trane and place overnment Call be availab
sportation Ae shall be resnsportation Aby budget li
reparation ano the Board.
iscal year shaal year. If thedopt a resol
ontinuing reso
d in this sectiBoard resol
ar to reflect year. The E
final budget; topted final bue Board. Th
xpenses inclrtation Authoenefits, offic
spect to certa
annually for rtation Authoties Code), thof the annua
am administr
Y
c hearingis ssportation Aof the publi
Code no laterble for publi
Authority’s Asponsible forAuthority. Thine item as dnd Review o
all be approvee Transportalution to conolution shall
ion, the adoplution has pactual reven
Executive Dithe Finance udget, and fohe amended
lude all expority, includice lease costain budgeted
the compenority’s enablihe Transportal net amounrative person
subject to puAuthority meic meeting shr than the 15ic inspection
Administrativr review of thhe Finance Cdetailed in Sof a Draft B
ed and adoptation Authorntinue servicinclude a da
pted final bupassed. The nues and expirector shall Committee s
or making a rfinal budget
penses relating, among ots, equipmenexpenses are
nsation (salaring legislatiotation Authont of Prop Knnel, and will
FISC
RES
ublic considereeting prior thall be publi5th day priorn at least 15
ve Code, thhe proposed
Committee shSection III.ABudget, and
ted by resolurity is unableces and paymate certain by
udget is not adopted fina
penses incurrbe responsib
shall be resporecommendat shall be ad
ted to the others, othernt rental, supe set forth be
ries and benon (Sections ority will obsK revenues fol follow appl
CAL POLICY SOLUTION 15-XX
Page
ration in the to being apprished pursuar to the day odays prior t
he Transportd overall operhall set the b
A. Preparationshall recomm
ution of the Be to adopt ament of expey which the a
subject to fual budget mred to the dable for proponsible for re
ation regardindopted by B
operations r related exppplies, and telow.
nefits) of its 131100 et s
serve the stator the salarielicable statute
2 of 6
form roved ant to of the to the
tation rating udget n and mend
Board a final enses, nnual
urther ay be ate of
posing eview ng the Board
and penses travel.
staff. seq of tutory es and es for
84
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2. EMTlinexpTdfu
3. PEAesmnnexnfral
B. DEBT S
Propofinancmust Strate
C. CAPITA
CapitAuthoPropodocumthe C
D. PROGRA
The Tperceoccurprovisepar
E. OTHER
The Eneces
V. CAPITAL EX
As proviCommitt
CO COUNTY TR
mos\01 Jan\Policies\At
MERGENCY EXPENThe Executivne items by uxpenditures ublic, or to
The Executivays of the emuture recomm
ETTY CASH A petty cash stablished a
miscellaneousot exceed twot be limitexpenses, andecessary androm time tollocation from
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osed debt scings within adhere to t
egic Plan and
L EXPENDITURES
tal Expenditority’s capitaosition AA Amentation sh
Capital Expen
AM AND OPERATI
Transportatioent (15%) ofrring during ided in this Pate budget lin
FUNCTIONAL CAT
Executive Dssary.
XPENDITURE A
ided by theee shall be
RANSPORTATIO
tt 05 Draft Fiscal Policy
NDITURES e Director isup to seventthat are madrepair/restor
ve Director smergency exmended actio
revolving aand maintains expenses owo hundred ed to, outsidd other pracd conveniento time to sem the operat
ervice includthe fiscal ye
the policies od the Transpo
tures shall bal expenditurAdministratohall provide anditures line i
NG RESERVE
on Authorityf the estimatthe budgete
Policy, will dene item.
TEGORIES
Director may
ALLOCATIONS
e Transporta responsible
ON AUTHORITY
y 2015.docx
s authorized ty-five thousade to protecre damaged/shall submit xplaining the ons.
ccount in thned by the f the Transpand fifty dolde photocopctical expenst for proper ek reimbursting budget.
des debt serear. Decisionoutlined in tortation Auth
be listed as re programmor, and CMAa detailed lisitems.
y shall allocaed net annud fiscal yearemonstrate th
y designate o
ation Authoe for recom
Y
to exceed thand dollars ($t the health,
/destroyed pa report to tnecessity of
he amount oExecutive
portation Aullars ($250). pying expenses as determadministratioement of th
rvice of outns to fund cathe Transpohority Debt P
a single linming roles, wA and TFCA
ting of the c
ate not less al sales tax r. The adoptehe percentag
other functio
rity’s Adminmmending a
he overall adm($75,000), for, safety, and roperty for tthe Finance f the action,
of one thousDirector f
uthority. IndiSuch miscel
nses, office mined by thon. The Exehis account
tstanding deapital expendrtation AuthPolicy.
ne item for which current
local admincapital progra
than five perevenue as aed final budge and amou
onal categori
nistrative Coallocation of
FISC
RES
ministrative or the actual cwelfare of t
the TranspoCommittee a listing of
sand dollars for the purividual expenllaneous expsupplies, mehe Executivecutive Directo the maxi
ebt as well ditures throu
hority’s most
each of thtly are Prop
nistrator. Supams and pro
ercent (5%) a hedge againdget, as it maunt set aside i
ies as deeme
ode, the Plf funding f
CAL POLICY SOLUTION 15-XX
Page
operating expcost of emergthe agency ortation Authwithin thirtyexpenditures
($1,000) mrposes of pnditures shallenses includeeting and e Director tctor is authoimum balanc
as of anticiugh debt issut current ado
he TransportK Administ
pplemental bojects that su
and up to finst an emergay be amendin the reserv
ed appropria
lans & Progfor those c
3 of 6
pense gency or the hority. y (30) s, and
ay be paying l may
de but travel to be orized ce by
ipated uance opted
tation trator, udget pport
fifteen gency
ded as ve as a
ate or
grams capital
85
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expenditureviewingresolutionstrategic categorieencompaas necessFiscal andprogramsStrategic
Changes revision uthat excebudget toallocated respective
For allocmaximumyear of aCapital Ereimburseactions. Tadopted i
VI. DEBT ISSU
As defineCommittAuthorityAuthorityfor financ
VII. INVESTME
As defineFinance CAuthorityTransporinvestmen
VIII. REPORTING
The ExecTransporhave beenand the Transpor
CO COUNTY TR
mos\01 Jan\Policies\At
ure programsg the Plans n. The Transplan that des, funding ass the period
sary. The Strd Debt Polics and projecPlan in force
in the capitaunless such ceed the amouo be recomcapital fund
e Capital Exp
cations with m reimbursemllocation sha
Expendituresement schedThe Transpoin the origina
UANCE
ed by the Traee shall be ry. Please refey, for the debcing eligible p
NTS
ed by the TrCommittee shy funds. Pleartation Authnt-related act
G REQUIREME
cutive Directrtation Authon implementTransportati
rtation Auth
RANSPORTATIO
tt 05 Draft Fiscal Policy
s and project& Programssportation Aerives from tand deliveryd remaining orategic Plan cies to ensurects. No alloce at the time
al expenditurchanges exceunt of the b
mmended by ding for eacpenditures bu
multi-year ment level peall count agas line item fdule amountortation Authal and any su
ansportationresponsible fer to the curbt issuance pprograms an
ransportationhall be respoase refer to hority, for tivities of the
NTS
tor shall repority’s actualted pursuantion Authoritority’s finan
ON AUTHORITY
y 2015.docx
ts in the ados Committee
Authority willthe provisiony priority oon the Prop and its govee the proper cations shall of the alloca
re supplemeneed authorizaudget line itthe Finance
ch Transportudget line ite
cash distriber fiscal year, ainst the Capfor subsequs committedhority will n
ubsequent allo
Authority’s for oversight rent version
program guidd projects.
n Authority’sonsible for ovthe current the investm
e Transporta
ort to the Fil expendituret to this Fiscty investmencial transact
Y
opted final bue’s recommel adopt, mainns of the Prf projects tK Expendit
erning policieallocation ofbe approve
ation.
ntal budget dation for thetem will reque Committeetation Authoem for the fis
utions, the and only the
pital Expendient year ann
d through thnot guaranteeocation actio
Administratiof the debt of the Debt
delines regard
s Administraversight of thversion of t
ment progration Authori
inance Commes, budgetary
cal Policy, thnt program. tions and re
udget. The Bendation andntain and perop K Expento be fundeture Plan andes shall be uf funds for ad that are in
documentatioe respective buire an amene and adoptority role shscal year.
allocation re reimbursem
ditures line itnual budget
he original ane reimbursemons.
tive Code andt issuance prt Policy mainding the issua
ative Code ahe investmenthe Investm
am guidelineity.
mittee at leary performanhe Transporta
The Financcords to be
FISC
RES
Board shall bd allocating eriodically upnditure Planed. The Strd shall be upused in comand timely finnconsistent w
on do not cobudget line itndment to thted by the
hould be no
resolution shment amounttem for that s shall reflend any subs
ment levels h
d its Debt Pogram for thntained by thance and ma
and its Invesnt program f
ment Policy mes regarding
ast on a quarnce, authorization Author
ce Committee audited by
CAL POLICY SOLUTION 15-XX
Page
be responsibproject fund
pdate a multn and outlinerategic Plan pdated period
mbination witnancing of elwith the ado
onstitute a btem. Any chhe approvedBoard. The greater than
hall spell out authorized ibudget year
ect the maxisequent allochigher than
Policy, the Finhe Transporthe Transportanagement of
stment Policyfor Transportmaintained bg all funds
rterly basis ozed variancesrity debt pro
ee shall causy an indepen
4 of 6
le for ds by ti-year es the
shall dically th the ligible opted
udget anges
d final total
n the
ut the in the r. The imum cation those
nance tation tation f debt
y, the tation
by the and
on the s that ogram se the ndent,
86
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certified presults of
X. PROCUREM
It shall beand servirequire a local new131285 ashall be aemergencAuthorityby a twomaterials
Procurembe award
The seleclandscapemanagemqualificatithe Trans
All procuinformal competiti
A. DISADV
Any pappliccontr
B. CONFLI
No eor in intereofficecontr
C. CONTRA
Apprgoodthousexecuprovibudge
CO COUNTY TR
mos\01 Jan\Policies\At
public accouf the audit.
MENT OF GOOD
e the policy oices. Procureformal bid p
wspapers or nd 131286, fawarded to tcy declared by, or, if after
o-thirds vote may be purc
ments of supped to the low
ction of proe architectu
ment firms, sions necessasportation Au
urement tranquote, or b
ion.
VANTAGED BUSINE
procurementcable non-dracting policie
CT OF INTEREST
mployee, offthe award o
est, real or aer, or agent ractors, poten
ACTS
oval of the Bs or professiosand dollars ute all such ided that theet, as amend
RANSPORTATIO
tt 05 Draft Fiscal Policy
untant firm a
DS AND SERVIC
of the Transpements in amprocess inclu
other mediformal procuthe lowest reby the vote rejecting bidof all of its
chased at a lo
plies, equipmwest responsi
ofessional seral, engineeshall be on ry for the sauthority’s Pro
nsactions, regy negotiation
ESS ENTERPRISE R
t whether foriscriminationes in place at
ficer or agenr administratapparent, as shall solicit
ntial contract
Board is requonal services($75,000) in contracts th
e amounts ared in accorda
ON AUTHORITY
y 2015.docx
at least annua
CES
portation Aumounts greatuding advertia outlets. P
urement of suesponsible bof two-thir
ds received, s voting memower price in
ment, and maive bidder fo
ervices, of suering, envirothe basis of
atisfactory peocurement P
gardless of dn, shall be c
REQUIREMENT
rmal or inforn, minority/t the time of
nt of the Trantion of a condefined by or accept g
tors or partie
uired prior tos that authoria fiscal year.
hat authorizee consistent ance with thi
Y
ally and a rep
uthority to coter than sevesing requestsursuant to Cupplies, equi
bidder after cds of the vothe Transpo
mbers that, ithe open ma
aterials in amllowing an in
uch as legal,onmental, laf demonstraterformance oPolicy.
dollar value conducted in
rmal shall co/local/women
procuremen
nsportation Antract if such
state statutegratuities, faves to sub-agre
o the executioizes payment The Execut
e payments nwithwere idis Policy for
port to be su
ompetitively enty-five thos for bids anCalifornia Pipment, and competitive oting memb
ortation Authin its opinioarket.
mounts equalnformal com
, financial aand surveyinted compete
of the service
and regardlen a manner
omply with thn-owned bu
nt.
Authority shh participatioe and applicvors or anytheements.
on of any cots that in thetive Directornot in exces
dentified and the current f
FISC
RES
ubmitted to
bid the procousand dolla
nd/or proposPublic Utilitie
materials in beddingbidd
bership of thhority determon the suppli
l to or less tpetitive bid p
advisory, privng, or conence and ones required in
ess of wheththat promot
he Transporusiness and
hall participatn would resu
cable case lawhing of mon
ontract for th aggregate exr is authorizess of $75,00included in
fiscal year or
CAL POLICY SOLUTION 15-XX
Page
the Board o
urement of gars ($75,000)sals in appropes Code Secexcess of $7
ding, except he Transportmines and deies, equipme
than $75,000process.
vate architecnstruction prn the professn accordance
her by sealedtes free and
rtation Authoother appli
te in the seleult in a conflw. No emplnetary value
he procuremexceed seventyed to approv00 per fiscal
the adoptedr, in the even
5 of 6
on the
goods shall priate ctions 75,000
in an tation clares
ent or
0 shall
ctural, roject sional e with
d bid, open
ority’s icable
ection lict of loyee, from
ent of y-five
ve and year,
d final nt that
87
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the cExecusimilaExecuof theadopt
The fBoardfor pras app
No cAuthoPlan. restric
The Taccouinvestrequir
CO COUNTY TR
mos\01 Jan\Policies\At
contract wasutive Directoar scope andutive Directoe amendmented final bud
foregoing nod approval, arograms andproved by sp
contractual oority in exceAll expendi
ctions placed
Transportatiunting servictment and dred by the Tr
RANSPORTATIO
tt 05 Draft Fiscal Policy
s not complor is authorid nature, anor may execunt does not exdget.
otwithstandinall standard gd projects defpecific Board
obligations, ass of its abiliitures shall cd on the use o
on Authorityces. Said co
disbursement ransportation
ON AUTHORITY
y 2015.docx
leted in a szed to amen
nd to increasute such amexceed $75,00
ng, the Execugrant agreemfined in the
d action.
administrativity to pay, ascomply with of said funds
y shall estabontracts shal
of funds, pan Authority.
Y
single fiscal nd contracts se or reduceendments wit00 and so lon
utive Directoents based uadopted fina
e or capital, s defined by
all federal, s.
blish contracll include payroll functio
year, the coto extend ti
e the total athout prior B
ng as the ame
or is authoriupon a grant al budget sup
shall be assthe adopted state, and lo
cts for bankiprovisions foons, and ong
FISC
RES
ontiguous fiime, to add amount of tBoard approvendment is c
ized to execuaward to a s
pplemental d
sumed by thfinal budget
ocal statutor
ing, investmor the receigoing financi
CAL POLICY SOLUTION 15-XX
Page
fiscal year(s).or delete tasthe contract.val, if the amonsistent wit
ute, without sponsoring agdocumentatio
he Transportt and the Strary and other
ment and stanipt, maintenial data repo
6 of 6
. The sks of . The
mount th the
prior gency on, or
tation ategic
r legal
ndard nance, orts as
88
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II. SC
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NTRODUCTION
The purpose or a prudent ctivitiesproce
The investmeAuthority (the
rovisions of n accordancef Chapter 4 3600 et seq.)elevant bond
COPE
This policy Transportatio
Bond proceeAuthority Boa
ermitted invn addition tonvestment annvestment Pnvestment Po
RUDENT INVES
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managing an oaking into aconditions, thprudent per
tewardship o
BJECTIVES
The primary ore:
) Safety.Investto ens
) Liquiditliquid flow r
TY TRANSPORT
cies\Att 06 Draft Inves
of this docuand systema
edures.
ent policies ae Transportastate law and
e with the Trof Part 1 o
). The investd documents.
covers all n Authority.
eds shall beard- approveestments, bo
o the securitind forward Policy, the policy do not
STOR STANDAR
its investmendard as statoverall portfcount the pr
he anticipatedrson acting inof funds of a
objectives, in
Safety of ttments of thure preserva
ty. The Tranto enable th
requirements
TATION AUTHO
stment Policy 2015.do
INVES
ument is to seatic investmen
and practicesation Authorid to prudentransportationf Division 2tment of bon
funds and
e invested ined (Board) boond proceedsies listed in Sdelivery agr
percentage oapply to bon
RD
ent program, ted in Gove
folio. Investmrevailing circud needs of thn a fiduciary like characte
n priority ord
the principale Transporta
ation of the p
nsportation Ahe Transpor.
ORITY
ocx
STMENT PO
et out policient policy and
s procedures ity) are, in evt money mann Authority’s2 of Title 5 ond proceeds
investment
n the securond documens will be inveSection IX breements. Nor dollar po
nd proceeds.
the Transpoernment Codments will beumstances, in
he Transportacapacity and
er and purpos
er, for the Tr
l is the foreation Authorprincipal of th
Authority’s rtation Auth
OLICY
es and proced to organize
of the San very case, sunagement pris Investmentof the Califowill be furth
t activities
rities permitnts. If the boested in the sbelow, bond
Notwithstandiortfolio limi
ortation Autde Section 53e made with cncluding, buation Authord familiar witse.
ransportation
emost objectrity will be uhe funds und
investment ority to mee
INV
edures that ee and formali
Francisco Cubject to andinciples. All ft Policy, and ornia Governher restricted
under the
tted pursuanond documensecurities perproceeds maing the otheitations liste
thority will o3600.3, applcare, skill, pr
ut not limitedrity and otheth those mat
n Authority’s
tive of the undertaken inder its contro
portfolio wiet its reason
VESTMENT PO
RESOLUTION 1
Pa
enhance oppize investmen
ounty Transd limited by afunds will beapplicable p
nment Coded by the prov
jurisdiction
nt to Transnts are silentrmitted by thay also be iner provisioned elsewhere
observe the lied in the corudence and d to general eer relevant factters would u
s investment
investment n a manner tol.
ill remain sunably anticipa
LICY
15-XX
ge 1 of 11
ortunities nt-related
sportation applicable e invested provisions e (Section visions of
n of the
sportation t as to the his policy. nvested in ns of this e in this
“Prudent ontext of diligence, economic ctors that use in the
t activities
program. that seeks
ufficiently ated cash
Attachment 6 89
![Page 90: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/90.jpg)
SAN FRAN
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3)
V. D
MAABinAinAby
VI. ET
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VII. IN
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VIII. AU
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IX. PE
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NCISCO COUNT
5\Memos\01 Jan\Poli
) Return managand ecparam
ELEGATION OF
Management’sAuthority BoAuthority TreBoard may rennvestment trAuthority manvestment dAuthority. Th
y the Execut
THICS AND CO
Officers, androcess will n
awful executmpartial decis
NTERNAL CONT
The Transpornvestment Po
UTHORIZED FIN
The Executivinancial serv
Transportatioelected on thhe State of Cnd other reqeposit will be
ERMITTED INV
California Gourchase by
Transportatioelow. The pnreasonable inancial instit
Percentage limwhere indicateAuthority is equirement, t
TY TRANSPORT
cies\Att 06 Draft Inves
on Investmeged with theconomic cycl
meters and the
F AUTHORITY
s responsibilard and is heasurer. Pursnew the deleansaction exay retain thecision-maki
he advisor wiltive Director
NFLICT OF INT
d employees anot engage intion of the sions.
TROLS
rtation Autholicy and wit
NANCIAL INSTI
ve Director wvices providn Authority
he basis of cralifornia. Th
quirements ue made excep
VESTMENT INS
overnment Cthe Trans
n Authority portfolio wiland avoidab
tutions.
mitations, wed, apply at tsubject to athe Executiv
TATION AUTHO
stment Policy 2015.do
ent. The Tre objective oles commense cash flow c
lity for the hereby delegsuant to theegation pursuxcept as prove services oing and to ll follow the .
TEREST
and agents on any personinvestment
hority will esth the applica
ITUTIONS AND
will establishders authoriz
will establishredit worthin
hese include punder Secuript in a qualifi
TRUMENTS
Code Section sportation Aseeks to fur
ll be diversifble concentr
where indicatthe time of pa rating chanve Director w
ORITY
ocx
ransportationof attaining asurate with thcharacteristic
investment pgated to the e requiremenuant to this svided under of an investexecute invepolicy and s
of the Transpnal business program, or
stablish interable requirem
DEALERS
h and maintzed to provh and maintaness, that areprimary dealeties and Excied public de
53601 goveAuthority. Wrther restrictfied by secuation risks r
ed, apply aturchase. In tnge that bri
will notify the
n Authoritya market ratethe Transporcs of the port
program is Executive D
nts of the Cection each ythe limits o
tment advisoestment transuch other w
portation Autactivities thar which cou
rnal controlsments of the
tain a list ofvide investmain a list of ae authorized ers or regionchange Comepository as e
erns and limWithin tho
t eligible inveurity type anregarding spe
t the time othe event a seings it belowe Board of th
INV
y’s investmene of return trtation Authotfolio.
derived fromDirector actiCalifornia Goyear. No per
of this policyor to advisensactions fo
written instruc
thority involvat could conuld impair t
s to ensure California G
f financial inment serviceapproved secto provide i
nal dealers thammission Ruestablished b
mits the invesose investmestment to t
nd institutionecific securit
of purchase. ecurity held bw the minimhe change. Th
VESTMENT PO
RESOLUTION 1
Pa
nt portfoliothroughout bority’s investm
m the Transing as Transovernment Crson may engy. The Transe it with rer the Transctions as are
ved in the innflict with prtheir ability
compliance Government C
nstitutions aes. In addicurity brokernvestment seat meet the n
ule 15c3-1. Nby state law.
stments perment limitatithe investmen, to avoid ty types or i
Rating requby the Transmum specifihe course of
LICY 15-XX
ge 2 of 11
o will be budgetary ment risk
sportation sportation Code, the gage in an sportation espect to sportation provided
nvestment roper and to make
with the Code.
and other tion, the r/dealers, ervices in
net capital No public
mitted for ons, the
ents listed incurring
individual
uirements sportation ied rating f action to
90
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1
2
3
4
5
6
NCISCO COUNT
5\Memos\01 Jan\Poli
e followed wor the rate dnd the curren
. Unitedwhichand ininvest
. Federaparticiprincipenterpinvest
. Repurpercenrestricare acdeliverhandlesecuritof thequartefluctuaof thebusine
. Obligabondscontrorated organimay b
. RegistCalifopropeauthorthe obstatistithe po
. Bankeare elirated iexceedmore Banke
TY TRANSPORT
cies\Att 06 Draft Inves
will then be droprating rednt market pri
d States Treah the faith annterest. Thered in this cat
al agency ipations, or opal and inte
prises. Thereed in this cat
rchase Agreemntage of the pctions will becceptable cored to the ed under a pties that und funds borro
erly. Since thations, the ine underlying ess day.
ations of thes payable soolled or operin one of thization (NRS
be invested in
tered treasuryrnia, includinrty owned, crity of any obligations areical-rating or
ortfolio that m
ers’ Acceptangible for purin the highesd 180 days mthan 30 perc
er’s Acceptan
TATION AUTHO
stment Policy 2015.do
decided on a duction, progice of the sec
asury notes, nd credit of tre is no limitegory.
or United other instrumerest by fed
e is no limitategory.
ments not toportfolio thae observed: Oollateral. All Transportati
properly execderlay a repurowed against he market vanvestments in
securities is
e State of Colely out ofrated by the she two highSRO). There n this categor
y notes or bng bonds payontrolled, or
of the other e rated in onrganization (may be inves
nces issued brchase by thest category b
maturity or 4cent of the Tnces of any o
ORITY
ocx
case-by-casegnosis for recurity.
bonds, billsthe United Sttation as to
States govments, includderal agenciation as to
o exceed oneat may be invOnly U.S. Tr
securities uion Authori
cuted tri-partrchase agreethose securi
alue of the un repurchase brought ba
California or f revenues fstate or any lest categorieis no limitat
ry.
bonds of anyyable solely or operated by49 United S
ne of the two(NRSRO). Tsted in this ca
by domestic oe Federal Resby a NRSRO0 percent of
Transportatione commerc
e basis, consecovery or fu
, or certificatates are pledthe percent
vernment-spding those ises or Unitethe percenta
e year duratiovested in this reasury securunderlying rity’s custodity repurchaseement will beities and the vunderlying see agreements ack up to 10
any local afrom a revelocal agency;es by a natiotion as to th
y of the otheout of the revy a state or byStates, in addo highest cateThere is no lategory.
or domestic serve System
O. Purchases f the Transpon Authority’
cial bank.
INV
sidering suchurther rate d
ates of indebdged for the tage of the p
ponsored enssued by or fed States goage of the p
on. There is n category. Thrities or Federepurchase an bank vee agreement.e valued at 1value will be
ecurities is su will be in co
02 percent n
agency withinenue-produci; provided thonally recogn
he percentage
er 49 Unitedvenues fromy a departme
dition to Caliegories by a limitation as
branches of m, the short-te
of Banker’s ortation Auth’s portfolio m
VESTMENT PO
RESOLUTION 1
Pa
h factors as thdropsrating re
btedness, or payment of
portfolio tha
nterprise obfully guarantovernment-sportfolio tha
no limitationhe following eral Agency agreements
ersus paymen. The market02 percent o
e adjusted noubject to dailompliance if
no later than
n the state, ing propertyhat the obliganized statistie of the port
d States in adm a revenue-pent, board, agifornia, provnationally reto the perce
f foreign bankerm paper ofAcceptanceshority’s port
may be invest
LICY 15-XX
ge 3 of 11
he reason eductions
those for f principal at may be
bligations, teed as to ponsored t may be
n as to the collateral securities must be
nt or be t value of or greater less than ly market the value the next
including y owned, ations are ical-rating tfolio that
ddition to producing gency,; or vided that ecognized entage of
ks, which f which is s may not tfolio. No ted in the
91
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8
9
10
1
12
NCISCO COUNT
5\Memos\01 Jan\Poli
. Commnumbmeet organiassets than ccorpotrust, not limpaper paper outstaportfo
. Mediusecuritcorpoinstitucorpoof meportfo
. FDIClocatematuri
To beassocirating federaCalifoto Secassesscomm
0. Negotcharteunion of dep
1. State obe revmay bmaxim
2. The CCalifolaw truGover
TY TRANSPORT
cies\Att 06 Draft Inves
mercial paperer rating as pall of the ized and opin excess of
commercial pration will bor limited liamited to, ovthat is ratedmay not e
anding paper olio.
um-term corpties with a rations orga
utions licenserate notes wedium-term nolio.
insured or d in Californity or 10 perc
e eligible toation, or fedof not less
al financial rnia’s comm
ction 2906 ofment of th
munities, cons
tiable certificered bank, a
or by a stateposit may not
of Californiaviewed periodbe invested imum allowed
California Asrnia Governust establishernment Cod
TATION AUTHO
stment Policy 2015.do
r of “prime” provided by acriteria in eerating with
f five hundrepaper, if anye organized wability compaer collateralid “A-1” or exceed 270
of an issuin
porate notesmaximum
anized and ed by the U.S
will be rated innotes will n
fully collaternia. Purchasecent of the T
o receive locderally insure
than “satisfsupervisory
munities, incluf Title 12 of
he insured dsistent with s
cates of depsavings asso
e-licensed brat exceed 30 p
a’s Local Agedically. Therein this categ
d by LAIF.
set Managemnment Code. ed pursuant e of the Sta
ORITY
ocx
quality rateda NRSRO. Teither (1) orin the United million doy, that is ratwithin the Uany, has progizations, lettehigher, or edays’ matur
ng corporatio
s, defined as remaining operating w
S. or any statn a rating ca
not exceed 3
ralized time es of time ceTransportatio
cal agency med industrial factory” in itagency of
uding low- anf the United depositories’ safe and soun
posit or depociation or aanch of a forpercent of th
ency Investme is no limita
gory. Howeve
ment Program The Prograto Section 6
ate of Califor
d the highest The entity thar (2) as folloed States as
ollars ($500,0ted “A” or h
United States gram wide crers of credit,equivalent byrity nor repon, or 25% o
all corporatmaturity of
within the Ute and operatategory “A” o30 percent o
certificates oertificates of on Authority’
money, a bloan compa
ts most receits record o
nd moderateStates Code.ability to
nd operation
posit notes a federal assreign bank. Phe Transporta
ment Fund (Lation as to ther, the amou
m, as authoram constitute6509.7 of Titrnia which i
INV
ranking or oat issues the cows: (1) thea general c
00,000), andhigher by a as a special
redit enhanc, or surety by a NRSRO.present morof the Trans
te and deposf five yearsUnited Stateting within thor better by
of the Trans
of deposit indeposit may’s portfolio.
bank, savingsany shall havent evaluatioof meeting -income neig. The FFIEmeet the c
ns.
issued by aociation, a s
Purchases of ation Author
LAIF). The Lhe percentageunt invested
rized by Sectes shares in tle 1, Divisioinvests exclu
VESTMENT PO
RESOLUTION 1
Pa
of the highescommercial pe corporationorporation,
d will issue deNRSRO; orpurpose corements inclu
bond; has co. Eligible core than 10%sportation A
sitory institus of less, ises or by dhe U.S. Meda NRSRO. Pportation A
n financial iny not exceed
s associationve received aon by the ap
the credit ghborhoods, C provides aredit needs
a nationally state or fedenegotiable ce
rity’s portfoli
LAIF portfole of the port
d may not ex
tion 53601 (a California
on 7, Chapterusively in inv
LICY 15-XX
ge 4 of 11
t letter or paper will n will be will have ebt, other r (2) the rporation, uding, but ommercial ommercial % of the uthority’s
ution debt ssued by
depository dium-term Purchases uthority’s
nstitutions 1 year in
n, federal an overall ppropriate needs of pursuant
an overall of their
or state-eral credit ertificates io.
lio should tfolio that xceed the
(p) of the common
r 5 of the vestments
92
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16
X. IN
Tinin
NCISCO COUNT
5\Memos\01 Jan\Poli
permitCalifo
3. Insuredeposfor mThere categoCode portiohave aper G
4. PlacemprivatefinancThe fmaximdeposCDs arestric
5. The SperceninvestCountspecifiComm
6. SharesmarkeInvestsubdiv
The pcommTransp
NELIGIBLE INVE
The Transpornterest-only sn zero interes
TY TRANSPORT
cies\Att 06 Draft Inves
tted by subdrnia, as it ma
ed savings acits, a financia
meeting the cis no limitat
ory. Bank deSection 536
on that is cova signed agreovernment C
ment Servicee sector enti
cial institutionfull amount mum term oit insurance.and Negotiabcted to five ye
San Franciscntage of thements of Trty Treasury fically requimissioners pr
s of beneficiaet funds regtment Compvision these c
Attain the less than tw
Have an iSecurities managing of five hun
purchase primission that t
portation Au
ESTMENTS
rtation Authstrips that arest accrual if h
TATION AUTHO
stment Policy 2015.do
divisions (a)ay be amende
ccount or moal institutionredit needs tion as to theposits are re30 et. seq. Tvered by fedeeement with Code Section
e Certificatesity that assistns located inof the prinf each certif. The combible CDs is limears.
o City and e portfolio ransportation
Pool to agre the app
rior to purcha
al interest issgistered withpany Act ofcompanies sh
highest rankwo NRSROs
investment aand Exchangmoney mark
ndred million
ice of sharethese compa
uthority’s por
hority will ne derived froheld to matur
ORITY
ocx
to (o) of Sed.
oney market n must have r
of Californiahe percentageequired to beThe collateraeral deposit iany deposito
n 53649.
s of Depositts in the placn the Unitedncipal and thficate of depined maximumited to 30%
County Treathat may b
n Authority fgencies of thproval of ase or accept
sued by diverh the Securif 1940. To hall have mee
king or highes.
advisor regisge Commiss
ket mutual fun dollars ($50
s of beneficanies may chrtfolio.
ot invest anom a pool of rity.
Section 5360
account. To received a ma communitie of the porte collateralizealization requinsurance. Tory accepting
t (CDs). Cercement of c
d States (Govhe interest tposit shall aum portfolio%. The maxi
asury Pool. be invested funds investhe City andthe Transp
tance.
rsified managities and Exbe eligible et either of th
est letter and
stered or exsion with nounds with as00,000,000).
cial interest harge and w
ny funds in f mortgages, o
INV
01 of the G
be eligible tominimum oveties in its motfolio that med as specifieuirements m
The Transporg Transporta
rtificates of dertificates ofvernment Cothat may be
at all times bo exposure timum investm
There is noin this cateed in the Sa
d County ofportation A
gement compxchange Cofor investmhe following
numerical ra
xempt from ot less than fsets under m
purchased will not excee
inverse floaor in any sec
VESTMENT PO
RESOLUTION 1
Pa
Government
o receive locerall satisfactoost recent ev
may be invested under Govay be waivedrtation Authoation Author
deposit placef deposit witode Section e accrued dube insured bto Placemenment maturi
o limitation egory. Any an Francisco f San Franc
Authority B
panies that aommission u
ment pursuang criteria:
ating provide
registration five years’ ex
management
will not inced 20 percen
aters, range curity that co
LICY 15-XX
ge 5 of 11
Code of
cal agency ory rating valuation. ed in this vernment d for any ority shall rity funds
ed with a th eligible 53601.8). uring the
by federal nt Service ity will be
as to the loans or City and
cisco will Board of
re money under the nt to this
ed by not
with the xperience in excess
clude any nt of the
notes, or ould result
93
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SAN FRAN
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XI. M
Insc
Wnagyeoth
XII. R
TArein
TpthoAexTPre
XIII. SA
AdseT
NCISCO COUNT
5\Memos\01 Jan\Poli
MAXIMUM MAT
nvestment mcheduled so a
Where this Poo investmengreement, thears, unless tr as a part ofhe investmen
EPORTING REQ
The ExecutivAuthority Boaeport each qndividual inve
Type o Issuer Purch Matur Purch Par va Amor Curren Credit Overa Sale D
The quarterly olicy, or manhe Transportf contracted
Authority to xplanation a
TransportatioPool the Exeecent investm
AFEKEEPING A
All security trelivery-versuelected by th
Transportatio
TY TRANSPORT
cies\Att 06 Draft Inves
TURITY
maturities wias to permit
olicy does nont will be mhat at the timthe Board haf an investment.
QUIREMENTS
ve Director ard. In additquarter, whicestment:
of investmenr name ase date
rity date ase price
alue tized cost nt market vat rating all portfolio yDate of any in
report also wnner in whichtation Autho
d parties, andmeet its e
as to why n Authority’
ecutive Direcment report f
AND CUSTODY
ransactions eus-payment bhe Transportan Authority
TATION AUTHO
stment Policy 2015.do
ill be based the Transpor
ot specify a mmade in any me of the inveas granted exent program
will submittion, the Exch will inclu
nt instrument
lue and the s
yield based onnvestment so
will (i) state ch the portfol
ority’s funds, d (iii) includxpenditure rsufficient ms investmentctor will profurnished by
entered into basis. Securitation Authoras beneficiar
ORITY
ocx
on a reviewrtation Auth
maximum remsecurity, oth
estment has xpress authorapproved by
t a quarterlyecutive Dire
ude, at a mi
t
source of the
n cost old prior to m
compliance olio is not in cinvestmentse a statemenrequirements
money may, ts held in theovide the Trathe Office o
by the Tranties will be hrity. The secury.
w of cash fhority to meet
maining matuher than a a term remairity to make y the Board n
y list of traector will subinimum, the
e valuation
maturity
of the portfolcompliance, s or programnt denoting s for the nor may, no
e City and Coansportation
of the Treasur
nsportation Aheld by an inurities will b
INV
flow forecastt all projecte
urity at the timsecurity undining to matthat investm
no less than
ansactions tobmit to the e following i
lio to the sta(ii) include a
ms that are unthe ability o
next six moot be availaounty of San
n Authority Brer and Tax C
Authority windependent
be held direct
VESTMENT PO
RESOLUTION 1
Pa
ts. Maturitied obligations
me of the invderlying a returity in exce
ment either spthree month
o the TransBoard an ininformation
atement of ina description nder the manof the Transonths, or prable. For al
n Francisco’sBoard with Collector.
ill be conducthird-party c
tly in the nam
LICY 15-XX
ge 6 of 11
es will be s.
vestment, epurchase ess of five pecifically
hs prior to
sportation nvestment
for each
nvestment of any of nagement sportation rovide an ll of the Treasury the most
cted on a custodian me of the
94
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SAN FRAN
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Twco
NCISCO COUNT
5\Memos\01 Jan\Poli
NVESTMENT PO
The Executivwhich the Boonsidered by
TY TRANSPORT
cies\Att 06 Draft Inves
OLICY REVIEW
ve Director woard will cony the Board a
TATION AUTHO
stment Policy 2015.do
will annuallynsider at a
at a public me
ORITY
ocx
y render to tpublic meeteeting.
the Board ating. Any ch
INV
a statement ohanges to th
VESTMENT PO
RESOLUTION 1
Pa
of investmenhe policy wil
LICY 15-XX
ge 7 of 11
nt policy, ll also be
95
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AGENCASKED.
BANKERThe accep
BENCHMportfolio.of the po
BID. TheOffer.
BROKERCERTIFILarge-den
COLLATrepaymen
COUPONbond’s fa
DEALEhis own a
DEBENTDELIVEpayment of moneyreceipt fo
DERIVAmovemenfinancial security (i
DISCOUthan faceat a disco
DISCOUand redee
DIVERSreturns.
NCISCO COUNT
5\Memos\01 Jan\Poli
CIES. Federal
The price at
RS’ ACCEPpting institut
MARK. A co. A benchma
ortfolio’s inve
e price offere
R. A broker b
ICATE OF Dnomination C
TERAL. Secnt of a loan. A
N. (a) The anace value. (b)
R. A dealer, account.
NTURE. A bo
ERY VERSUand delivery
y for the secuor the securiti
ATIVES. (1)nt of one orcontracts bainterest rates
UNT. The dife value. A secount.
UNT SECURemed at matu
SIFICATION
TY TRANSPORT
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Pa
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bid.) See
Certificate.
to secure onies.
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96
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SAN FRAN
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M:\Finance\201
FEDERAvarious ccooperati
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IT INSURA to $100,000
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TEMENTS. Fdance with gr opinion of
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ES. Agencied individuals,
ANCE CORP0 per deposit.
e rate of interough open-m
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Pa
p to supply udents, farm
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e banks (curo member cohe FHLBs is Bank.
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97
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SAN FRAN
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M:\Finance\201
LOCAL subdivisio
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MENT INVEplaced in the
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IC DEPOSITsales or comphe benefit of d which has
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m political ent.
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98
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SAN FRAN
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M:\Finance\201
SAFEKEof all type
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99
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SD
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ENT POLICY SOLUTION 15-XX
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ment, includinrvices necessaty (Transportortation Auth/or limitationbusiness wittation Authoture Plan), fe
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Attachment 7100
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ENT POLICY SOLUTION 15-XX
Page
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101
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SAN FRANCISC
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RANSPORTATIO
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n Authority overnment Cancisco Coun
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for goods anugh an informtelephone, v
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ON AUTHORITY
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shall be subode and the
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PROCUREME
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3 of Title 9, ement those pt of Interest C
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gal, financial nmental, lan
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ENT POLICY SOLUTION 15-XX
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Chapter 7 oprovisions asCode.
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SD
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M:\Finance\2015\Mem
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RANSPORTATIO
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ments anticipbe used to pcter, and qurd will be idding, excepof the Boardg bids receive Section 131of the Boarda lower pricese supplies, f the provisio
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ON AUTHORITY
nt Policy 2015.docx
pated to be procure all suality; easilymade to th
pt in an emerd pursuant tved, the Tra1286, determd that, in its e in the open
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ENT POLICY SOLUTION 15-XX
Page
n for Bids at are standasible in the ible bidder
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103
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SD
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M:\Finance\2015\Mem
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IV. NONCO
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RANSPORTATIO
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d evaluate cost evaluation nd to the Bo
the recommeproposer m
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ON AUTHORITY
nt Policy 2015.docx
ost assumptiopanel, if any
oard award oendations the
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dence, includs of all bids
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ews and analosals. The Ehe results of
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ENT POLICY SOLUTION 15-XX
Page
lysis, the seleExecutive Dirf the procuren panel, if anity. In the cat responsive
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M:\Finance\2015\Mem
Such constpropoAutho
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protests mutructive, of tosal is not bority to anoth
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RANSPORTATIO
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ust be filed wthe Transpoeing consideher bidder or
e deemed filenal delivery. Funder these psportation A
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ON AUTHORITY
nt Policy 2015.docx
within the earrtation Auth
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ed when the Failure to fileprocedures. WAuthority shacted. Such tive to the un
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PROCUREME
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days after (i)bidder or p
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ENT POLICY SOLUTION 15-XX
Page
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105
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shall Finan
Uponthe drecomFinandetermBoardinconnotifiTrans
VI. CONTR
No cAuthoStrateprocuexceeautho$75,0includAuthocompauthoand tsuch excee
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RACT ADMINIS
contractual oority in the egic Plan. Apurement of ged seventy-fiorized to app000 per fiscaded in an tority the Fis
pleted in a orized to ameo increase oramendment
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RANSPORTATIO
tt 07 Draft Procuremen
owed fifteen ee may exten
of the hearithe Execu
shall be subttee’s recomdditional timt the recommthe recomm
he protester uthority.
STRATION
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nt upon comp
ON AUTHORITY
nt Policy 2015.docx
(15) minutesnd these time
ing, or if theutive Directbmitted to th
mmendation me to conside
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administrativts ability to he Board is rofessional sed dollars ($7xecute all sucvided that th
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y with all fedthe use of sh the monets/her design
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ce CommitteCommittee. shall constitu
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ENT POLICY SOLUTION 15-XX
Page
hority’s case
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106
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SAN FRANCI
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15-XX
Page 1 of 8
MENT
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Attachment 8 107
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s establishedr United Stat
tion charges owances,; par
us expenses:
d long distanonomical prance and Admn excess of $
nature/need
ion fees forof profession
porters, not to
e of necessary
expenses in or travel statu
een or unusu
avel Expensest for the folloephone callse expenses, usiness but w
ndividuals trtation costs,
ividual on a tng expense. which are exce
ons. Reimburd to transact e at the traven that event, of the reduc
e for lodging (exablishes per die
blishes the foreies non-foreign Federal agency
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
d by the Getes Departme
(, including rking,; bridge
nce business cticable com
ministration $5.00 per dafor the call;
r attending nal societies o
o exceed $2 p
y training or
connection wus; and
al expenses w
s. Transportowing items:; which are th
were not; suc
traveled toge, then one wo
trip stayed w
essive or unr
rsement of cTransportatieler’s expensit is up to th
ced airfare by
xcluding taxes),em rates for design rates (for exrates such as A
y.
SE REIMBURSEM
cy.docx
eneral Servicent of Defen
commercial e and road to
telephone cmmercial serv
and only appay shall be ite
conferences,or communit
per bag;
conference m
with the prep
which are jus
tation Auth
hose which mch as:
ether to a ould be maki
with friends o
reasonable as
costs shall beion Authoritye unless it ishe traveler’s y traveling at
, meals and incistinations withixample, Russia,
Alaska, Hawaii,
MENT POLICY
ces Adminisnse (USDOD
carrier fareolls,; and nec
alls, faxes anvice,. subject proved if deemized to in
, seminars, ty organizatio
materials or s
paration of c
stified, neces
hority person
might have b
meeting in ing a “constr
r relatives, it
s determined
e based on thy business. Cs shown thadiscretion a
t an earlier/la
idental expensein the Continen, Aruba, BahamPuerto Rico, an
stration (GSAD) as appropr
s,; rental carcessary taxi o
nd internet ato review by
eemed reasonclude to who
conventionsons;
supplies;
clerical or off
sary and sub
nnel are no
been incurre
one car anructive” claim
t would be “c
by the Tran
he minimumCosts incurret the savings
as to whetherater date.
es. The United ntal United Stat
mas, Europe, etcnd Guam. Thes
RESOLUTION 1
P
A), Internal riate 1 :
r charges,; pror public tran
ccesstelegramy the Deputynable and prom the call w
s, meetings,
fficial reports
bstantiated.
ot eligible
ed for Trans
nd each claim; or
constructive”
sportation A
m number of ed due to ears in airfare or he or she w
States General tes. The Unitedc.). The Departse rates are revi
15-XX
Page 2 of 8
Revenue
rivate car nsit fares);
ms by the y Director roperAny was made
or other
while on
to claim
sportation
imed full
” to claim
Authority.
days and rly or late outweighs wishes to
Services d States tment of iewed
108
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
E. Casor shAacan
III. TRAVE
A. AppmaFoforavFinapFoDicoCoreqinc
B. LocTrveneinc
C. Oulim
D. Tradeco
IV. PROCE
A. ExpAusubad
Thtraamdoanau
ISCO COUNTY TR
EL, CONFERENCE,
5\Memos\01 Jan\Poli
sh Advance. Covernight tr
all not be lesauthorizationnceled or ind
EL AUTHORIZAT
proval. Beforeay take placeormtravel autrm to the Deailable in thnance and Aproval. Tran
ormtravel auirector is aunsistent with
ommittee anquests in excurring any r
cal Travel. Loransportationrbal approvacessary, a Tcurring reimb
t-of-Area Travmits.
avel Authorizatstination, pusts for transp
EDURES FOR C
pense Report.uthority shalbmitted withequate docum
he total amoaveler on an mount listed ocumentationy amount inthorization f
RANSPORTATION
, TRAINING AND B
cies\Att 08 Travel and
Cash advanceravel if requess than $100 n Fform. Addefinitely pos
TION
e any Transpe, Transportthorization feputy Directhe TransportAdministrationsportation
uthorization uthorized toh this policy.nd the Chairxcess of $5,0eimbursable
ocal travel, wn Authority wal from their Travel Authobursable expe
vel. Out-of-ar
tion Form. Thurpose and juportation, me
CLAIMING EXPE
. Any reimbll be claimedhin 45 days mentation su
ount of all eExpense Reon the Tra
n of the excen excess of tform shall n
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
s may be reqested a minim
nor more thdvances musstponed.
portation Autation Authoform to theiror forof Finatation Authon will forwaAuthority Cform to th
o approve t. The Execurperson of th000.00. All expenses. .
which does without pre-vrespective su
orization Forenses.
rea travel is d
he Travel Auustification feals, lodging,
ENSE REIMBUR
bursement fd on an Exof incurring
upporting the
expenses pereportexpenseavel Authoriss cost mustthe estimatednot be allow
SE REIMBURSEM
cy.docx
quested to comum of ten whan the estimst be refund
uthority paid ority personnr supervisor ance and Adority’s budge
ard the approCommissione
he Executivetravel requesutive Directohe Transportravel reque
not involve verification oupervisor andrmtravel auth
defined as 50
uthorization for the trip, d, registration,
RSEMENT
for expensesxpense Repog the expense expenses.
rtaining to a report formization Formt be providedd cost approed. If the ca
MENT POLICY
over anticipatworking daysmated expensded immedia
or reimbursnel must firsfor approva
dministrationet for the toved form toers must su
e Director fsts for Tranr will informrtation Authests must be
overnight tof travel fundd the Executthorization f
0 miles or mo
Formtravel departure an, and other e
s incurred oortexpense res, and the
particular tm. If the totamtravel authd. In the abseoved on the ash advance
ted travel exps before depases listed on ately when a
ed overnightst submit a al, who will fn to verify thatravel. The o the Executubmit the Tfor pre-apprnsportation
m the Chairphority of all e approved
travel, can bds availabilitytive Directorform shall b
ore beyond t
authorizationd return datexpenses.
on behalf ofreport. Expereports shal
trip should bal actual cost horization foence of a satTravel Auth
e exceeds the
RESOLUTION 1
P
penses for ouarture. Cash the approvean authorize
t or out-of-aTravel Auth
forward the at sufficient Deputy Dirtive DirectorTravel Authroval. The E
Authority pperson of the
Commissionin advance,
be reimbursey but staff shr. If overnighe submitted
the San Fran
on form shates, and the e
f the Transense reports ll be accomp
be accountedt of a trip exorm, justificatisfactory exphorization Foe actual reim
15-XX
Page 3 of 8
ut-of-area advances
ed tTravel ed trip is
area travel horization approved funds are
rector for r for final horization Executive personnel e Finance ner travel
prior to
ed by the hall obtain ht travel is prior to
ncisco city
all list the estimated
sportation shall be
panied by
d for the ceeds the ation and planation, ormtravel
mbursable
109
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
expRe
B. Natno
C. Pethocla
D. Reqwh
E. Reexpcoto offrecauforReinv
F. Coor reprepassth
G. ExpquthetheactnoGocomemereq
V. PREPAAll rminimrequirat the
ISCO COUNTY TR
EL, CONFERENCE,
5\Memos\01 Jan\Poli
pense, then eportexpense
ture of Claim. ot for “constr
r Diem Adjustose instanceaimed on the
quired Informahich reimbur
ceipts. Receipenditures fnference or travel. Claim
fficial businesceipt and nathorized expr expenses geportexpensevolved shall n
mmissioner Retraining at th
port of suchport must incsociated withe meeting, c
penses Not Cualify for reime Transportae expense istivity conduc
ot limited toovernment Cnference or ember of a ember of aquirements o
AYMENT OF COequests for
mum of ten rement canneir own risk a
RANSPORTATION
, TRAINING AND B
cies\Att 08 Travel and
the travelee report.
Claims mustructive” expe
tments. Per ds where me
e Expense Re
ation. Each clsement is be
ipts or proofor public cseminar regis
ms must be rss in-transit tarrative to supenses incurregreater than e report and not be allowe
eports. Transhe expense o
h at the nextclude a statemh, Transportaconference,
overed by Trambursement uation Authors related to cted in compo ethics trainCode. Lodgin
activity spolegislative b
a legislative of this policy.
ONFERENCE/SEprepaymentworkings d
ot be met, Tand seek reim
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
er shall imm
t be for actuenses.
diem claims als are prov
eportexpense
laim must cleing claimed.
of of paymearrier fares, stration fees,recorded andtravel destinaubstantiate cled costing ov$25.00, a s
the reason ged.
sportation Auof the Transpt regular Boament of howation Authoror training
ansportation Aunder this pority Board, inlodging in
pliance with ning requireng costs shansor, providody at the tbody shall
.
EMINAR/TRAINt of conferedays in adva
Transportatiombursement o
SE REIMBURSEM
cy.docx
mediately ret
ual and neces
will be adjuvided gratis oe report.
early indicate
ent must berental cars,
, and for anyd certified onation, Transplaimed travever $25.00. Ifstatement togiven. In abse
uthority Comportation Auard meetings
w the Commirity businessthat could b
Authority Policolicy, to be ren a public mconnection California G
ed by Articleall not exceedded that the time of boo
use compa
ING FEES ence/seminarance of the n Authority on the Expen
MENT POLICY
turn the ex
ssary expense
usted, using tor as part o
e the date, n
e submitted, lodging (in
y unusual itemn an Expensportation Auel expenses ff a receipt ca
o that effect ence of a sat
mmissioners uthority shallsession of thissioner’s att, and includbe helpful to
cy. In the eveimbursable,
meeting beforwith a conf
Government Ce 2.4 (commd the maximlodging at t
oking. If thearable lodgi
r/training wconference/personnel mnse Reportex
xcess amoun
es consistent
the appropriof a registrat
nature of exp
d with the cndicating thems or items nse Reportexputhority persfor lodging aannot be obta
shall be mtisfactory exp
attending a l provide a bhe Transporttendance has de any mato other Com
vent where a, the expensere the expenference or oCode s. 5495mencing wit
mum group rthe group rae group rate ing that is
will be subm/seminar/tra
may personallyxpense repor
RESOLUTION 1
P
nt with the
t with this d
iate per meation or any
pense and am
claim to sube single ratenot specificalpense reportonnel must pand a receipained or has
made on the planation, th
meeting, corief written tation Authoan impact o
terials distrimmissioners
an expense e shall be appnse is incurreorganized ed52.2(c ), incluth s§. 53234rate publisheate is availab
is not availconsistent
mitted for apaining. If they pay registrart.
15-XX
Page 4 of 8
Expense
document;
al rate, in other fee
mount for
bstantiate e), meals, lly related t. For any provide a
pt for any been lost Expense
e amount
onference, and oral
ority. The on, or was ibuted at s.
does not proved by ed, unless ducational uding but 4) of the ed by the ble to the lable, the with the
pproval a e ten-day ation fees
110
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
VI. MEAL
A. Gepeis thepeshgramu
B. ReAuthe1.
2.
3.
4.
5.
C. LocTrMenoapbe
D. OuareRebefedin be
E. Spaurei
ISCO COUNTY TR
EL, CONFERENCE,
5\Memos\01 Jan\Poli
EXPENSE
neral. Transprsons not emtransacting be business mrson expendall not exceatuities, but nust be approv
strictions. Thuthority perse following c
to attend aaffairs becato attend conduct Trto attend Transportapublic agento act as examining official funto attend oto reasonaprovide mereimbursem
cal Area Mealransportationeal expenses
ot exceed thpropriatethe justified in w
t-of-Area Meaea must beeimbursemen provided foderal standarInternal Rev justified in w
ecial Functionthorized conimbursement
RANSPORTATION
, TRAINING AND B
cies\Att 08 Travel and
portation Aumployed by thbusiness. The
meeting, must diture shall noed the per not the cost ved in advan
he purchase onnel are re
circumstancea breakfast, luause of the oa meeting b
ransportationconsecutive
ation Authorncy meeting thost for offboards, offi
nctions; and off-site traininably priced meals to the attment in accor
s. Reimbursen Authority b incurred prihe per diem
following cowriting.
als. Reimburse approved
nt for out-of-or expenditurd meal allowvenue Servicwriting.
ns. Reimburnferences, prot at rates
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
uthority persohe Transporte name and bbe included
ot exceed a rdiem amounof alcoholic
nce by the Ex
of non-travequired, and s: unch or dinnfficial positiobetween Con Authority b
or continuity, Board ofto cover an aficial guests
ficial visitors
ng events (trameals is nottendees or aurdance with p
ement for embusiness andior to author
m rates andosts: breakfa
sement for ed on the T-area meals wures exceedinwance, as estace Publication
sement for ofessional mdifferent t
SE REIMBURSEM
cy.docx
onnel may intation Authobusiness affilin the Expen
reasonable amnt. Actual cbeverages. A
xecutive Dire
el-related mwhere appro
ner meeting con or duties oommissionersbusiness outsuing morningf Supervisorsagenda;
of the Tra, and speake
aining workst available. Tuthorize indiprovisions of
mployee memust be app
rization will d allowancesast ($7); lunch
employee meTravel Auth
will be based ng $25.00, aablished by tn 463 (or an
meals at spmeetings, or sthan the p
MENT POLICY
ncur expensority, with whliation of thense Reportexmount underosts shall inAll such expector.
eals is authooved in adva
concerning Tof the individscommissionside of normg and afters, city counc
ansportation ers or hono
shops, seminThe Executiividuals to puf this docum
eals in the loproved in adbe at the ris
s establishedh ($10); and
eals during phorization Fon either act
and in accorthe GSA or ny successor
pecial functispecial eventsper diem a
es for the phom the Trane person, as wxpense reporr the particu
nclude reasoenditures for
orized only ance by the E
Transportatiodual;
ners and stamal business hrnoon and ncil, cCommis
Authority, sored guests a
nars, and retreive Directorurchase their
ment.
ocal area mudvance by thsk of the emd by the Gdinner ($18)
periods of apFormtravel tual costs, fordance with USDOD as publication)
ions, such as or functionallowances.
RESOLUTION 1
P
purchase of mnsportation Awell as the purt. The maximlar circumstanable and cr personnele
when TransExecutive D
on Authority
aff when reqhours; night sessionssion, district
such as memat banquets
eats) and rear may elect r own meals a
ust be associae Executive
mployee. MeaGSA or USD). Unusual co
pproved tripauthorizatio
or which recethe per diemappropriatep
). Unusual co
as banquet ns, may be elEligibility f
15-XX
Page 5 of 8
meals for Authority urpose of mum per-ances and customary mployees
sportation irector in
y business
quired to
ns of an t or other
mbers of or other
ady access to either and claim
ated with Director.
als should DOD as osts must
ps out-of-on form. eipts must m of the published osts must
meals at ligible for for such
111
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
reiAu
VII. LODGIReimarea cday’s is autCostaAlamautho
TranssubmlodginlodginAuthoServicconfethe cwill rappro
VIII. MEAN
A. Getrabypeboanco
Chcarfai
UnTrpro
B. Locpuare
ISCO COUNTY TR
EL, CONFERENCE,
5\Memos\01 Jan\Poli
imbursementuthority Boar
NG EXPENSESbursement isconferences oduration. W
thorized for a, Marin, Na
meda, San Frorization is gr
sportation Aumit proper do
ng as part ong is prudenority will reimce Publicatioerence, the loonference. Ireimburse itsopriatepublis
S OF TRANSPO
neral. All traansportation.y providers orsonnel trav
orne by the iny resulting ensidered wor
harges or losrrier’s rules ailure resulted
nused portioransportationomptly to se
cal Travel. Traublic transit se to be used i
RANSPORTATION
, TRAINING AND B
cies\Att 08 Travel and
ts is based ord in accorda
S s allowable for meetings.
Where availablovernight acpa, San Fran
rancisco, Coranted.
uthority persocumentatio
of the approvnt, based onmburse its peon 463 (or anodging costs f no group rs personnel hed in Intern
ORTATION
avel must u Transportatf transport w
vel an indirecndividual excexcess travel rk time, but w
ss of refundsand time lim
d from circum
ons of transpn Authority, cure such a r
ansportation services and cin the follow
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
on a pre-appance with thi
for single-rooThe cost of
le, governmecommodatio
ncisco, San Mntra Costa,
sonnel will bn to justify val of the trn economic,ersonnel for ny successorshall not excrate is availafor lodging nal Revenue
utilize the mtion Authoritwhere availabct route and cept for reastime, except
will be charg
s resulting frmits usually wmstances beyo
portation ticthe individu
refund.
Authority pecarpooling fo
wing priority:
SE REIMBURSEM
cy.docx
proval by ths policy.
om lodging ef a single rooent and groupons within thMateo, SantaSan Mateo,
e expected tothe expense
ravel request, comfort, slodging up t
r publicationceed the maxable at the tim
up to the rService Publ
most efficientty personnel ble. If for pe
travel is intsons beyond t where beyo
ged the appro
rom failure twill not be rond the cont
ckets are subual traveler i
ersonnel are or local area
MENT POLICY
he Executive
expenses assoom will be reip rates must
he nine Bay Aa Clara, Solan
Solano, Ma
o be prudente. The Exect, and reservsafety, and rto the rates p
n). If lodgingximum groupme of bookirates establishlication 463 (
t, direct andshall use gov
ersonal conveterrupted, anthe control
ond the conopriate type o
to cancel resreimbursed, utrol of Trans
bject to refuis responsibl
encouraged travel. The f
e Director, o
ociated with imbursed wht be requesteArea countieno and Sonoarin, or San
t in the choicutive Direcves the rightreasonabilitypublished by g is required p rate publishing, the Tranhed by the (or any succe
d economicavernment anenience, Tranny resulting of the indiv
ntrol of the eof leave.
servations inunless it cansportation Au
und and, whle to see tha
to make optifollowing mo
RESOLUTION 1
P
or the Trans
attendance ahen travel exd. No reimbs of Alamed
omain the cota Clara unl
ce of lodgingctor will appt to determiny considerati
the Internalin connectio
hed by the spnsportation AGSA or US
essor publica
al mode of nd group ratensportation Aextra expens
vidual. For ememployee, wi
n accordance n be shown uthority pers
hen purchaseat they are t
imum use ofodes of trans
15-XX
Page 6 of 8
sportation
at out-of-xceeds the bursement da, Contra ounties of less prior
g and will prove the ne which ons. The l Revenue on with a ponsor of Authority
SDOD as tion).
available es offered Authority se will be mployees,
will not be
with the that such onnel.
ed by the turned in
f available sportation
112
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
1. 2. 3.
C. Airav
D. Aut1.
2.
ISCO COUNTY TR
EL, CONFERENCE,
5\Memos\01 Jan\Poli
public tranprivately-owrental cars,
r Travel. Air cailable. All re
tomobiles Privately-ow
a. In instatranspo(e.g., thsuch mRevenudistancInabilitdirect reimbueconomowned businesowned for thiusing preimbu
b. Chargealso be
c. Properincurre$250 orthe lesassignmfrom th
d. In ordelocationresidenexplanaexplana
Rental Aut
a. Rental to the Treservaare exp
RANSPORTATION
, TRAINING AND B
cies\Att 08 Travel and
sportation; wned motor after exhaus
coach (or simeasonable far
wned Autom
ances where ortation betwhe site of a m
mileage basedue Service Pce between pty to do so wroute. Milea
ursement for mical direct a
motor vehss must carrmotor passe
s minimum privately-ownursed for any
es for ferries, allowed for
ty damage ed without far the amountsser amount,ment of subrhird parties, k
er to be paidn, the milea
nce to and fration to theation, the miltomobiles
automobilesTransportati
ations shouldpected to be p
AUTHORITY BUSINESS EXPEN
d Reimbursement Polic
vehicles; andsting all other
milar reducedre reductions
mobile for Of
Transportatween their nomeeting), Tr
d upon the stublication 46points, Transwill result in age rate of out-of-area
air rate. Tranhicles for trary at least thenger vehicleautomobile
ned motor vdamages tha
bridges, tunnecessary pa
to the autoault or causet of the dedu, for each aogation rightknown or un
d mileage foage must berom the norme Expense Rleage expens
may be usedon Authority
d be made wprudent in th
SE REIMBURSEM
cy.docx
d r available op
d fare accoms or reduced
fficial Busine
tion Authoritormal work ransportationtandard mile63. When acsportation Athe reimburreimbursem
trips shall nnsportationansportation he minimumes as requireliability insu
vehicles, Traat may occur
nnels, or tollarking.
omobile owne of the travuctible on theaccident. Thts up to the
nknown at th
or travel whie in excess mal work loReportexpene shall not b
d when suchy than the us
whenever poshe selection o
MENT POLICY
ptions.
mmodations) fare flights a
ess
ty personnel location and
n Authority peage rate as ectual mileage
Authority perrsement beinment will benot exceed thAuthority pewhile on o
m automobileed by the Staurance coveransportation .
roads will be
ned by Tranveler shall bee traveler’s a
he Transportamount exp
he time of suc
ich originateof that nor
ocation. The nse report. I
e allowed.
h rental is conse of other mssible and Trof an automo
shall be usedas appropriate
use their prd other desigpersonnel mestablished be exceeds byrsonnel musng based on e adjusted he cost of thersonnel whofficial Trane liability insate of Califorage shall noAuthority p
e allowed. Re
nsportation e reimbursedauto insuranctation Authoended, for rech payment.
es other thanrmally driven
requesting tIn the absen
nsidered to bmeans of traransportationobile model.
RESOLUTION 1
P
d for air trave shall be uti
rivate automognated work
may be reimbby the GSAiny 10% the rest justify sucmileage for as required.he most effi
ho use their nsportation Asurance for ornia. Reimbot be allowepersonnel wi
easonable ch
Authority pd in an amouce policy, whiority will asecovery of su
n at the normn from the traveler will nce of a sa
be more advaansportation.n Authority p
15-XX
Page 7 of 8
vel if it is ilized.
obiles for locations ursed for
n Internal easonable ch excess.
the most . Mileage cient and privately-Authority privately-
bursement ed. When ill not be
harges will
personnel unt up to ichever is ssume an uch sums
mal work traveler’s attach an
atisfactory
antageous Advance
personnel
113
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SAN FRANCI
DRAFT TRAVE
M:\Finance\201
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M:\Finance\2015\Memos\01 Jan\Folsom Contract Amendments.docx Page 2 of 5
BACKGROUND
The San Francisco Office of Investment and Infrastructure (OCII), Successor Agency to the Redevelopment Agency, requested that the Transportation Authority, as Congestion Management Agency for San Francisco, be the lead agency in the implementation of the Folsom and Fremont Street Off-Ramp Realignment Project (project). This project is a major component of the Streetscape and Open Space Plan for the Transbay Redevelopment Project Area. The Folsom Street off-ramp provides a San Francisco exit from the Bay Bridge, currently touching down at Folsom and Fremont Streets. The OCII has an agreement with the California Department of Transportation (Caltrans) to realign the ramp to provide for a more functional intersection consistent with the area’s redevelopment plan. The reconfigured ramp will be parallel to the Fremont Street exit while remaining within the existing right-of-way.
On November 19, 2013, the OCII Board approved a Memorandum of Agreement (MOA) for $2,883,900 to fully reimburse the Transportation Authority for all project management, administrative, construction management, and construction costs associated with the project. In February 2008, under a previous agreement with OCII, we awarded a professional services contract to Mark Thomas & Company, Inc. (MTCo) in an amount not to exceed $300,000 for design services for the project. That contract was subsequently amended five times to a total not to exceed amount of $598,181 due to expanded scope of service, including construction-phase design support services. In November 2013, we awarded a professional services contract to S&C Engineers, Inc. (S&CE) for construction management support services for the project, in an amount not to exceed $420,700. In June 2014, we awarded a construction contract to O.C. Jones & Sons, Inc. (OCJ) in an amount not to exceed $1,984,468, with an additional construction allotment of $187,000.
DISCUSSION
At the outset of the construction phase, the project budget provided in the MOA between OCII and the Transportation Authority was $2,883,900. We authorized $2,590,454 in contracts and agreements and set aside $106,565 for Transportation Authority costs for staff time, legal consultation, and other project-related costs, with the remaining $186,881 to be used for agreements that had not yet been negotiated with the California Highway Patrol, the San Francisco Public Utilities Commission, and other agencies, as well as for potential change orders to the construction contract. The construction phase was initiated in August 2013 with procurement of the construction management consultant, who performed the constructability review and assisted us with preparation of the final construction contract documents. The construction contract was awarded in June 2014. On-site work was initiated in September 2014 with the closure of the Folsom leg of the off-ramp, which was accomplished with minimal impact to traffic. Construction of the project is generally on schedule. However, due to weather delays, construction is anticipated to be completed by May 2015.
During the constructability review, preparation of final construction contract documents, and construction contractor procurement, MTCo, S&CE, and Transportation Authority staff all spent more time than had been anticipated to complete these tasks. The additional constructability review was due to the significant differences between the Caltrans 2006 standards, upon which the pre-2013 plans and specifications were based, and the 2010 standards with which the project was required by Caltrans to conform. This necessitated that we completely revise the boiler plate language for the contracting portion of the Special Provisions. Extensive coordination with San Francisco Public Works was also required regarding its construction specifications, which also differ significantly from the Caltrans specifications. Both of these required the assistance of S&CE staff. Upon reviewing the submittals from the contractor, additional effort by S&CE has been needed to ensure submittals meet the 2010 Caltrans Standards. Further, MTCo performed additional work to secure project approval from Caltrans,
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M:\Finance\2015\Memos\01 Jan\Folsom Contract Amendments.docx Page 3 of 5
including responding to unexpected comments from new Caltrans reviewers, an additional full submittal to all Caltrans functional groups, extensive coordination with Caltrans structural reviewers, a full update of the Geotechnical Design Reports, and coordination with area developers as requested by OCII. The costs of these additional services are $130,000 for S&CE and $66,841 for MTCo.
During the last few months we have entered into agreements totaling $23,658 with the California Highway Patrol and the San Francisco Public Utilities Commission for services necessary to the project. We have also authorized two contract change orders for OCJ for a total of $37,000 for additional traffic control and removal of man-made buried objects (remnants of concrete piers) discovered during excavation. Several additional change orders are already in preparation for signal plan revisions due to San Francisco Municipal Transportation Agency (SFMTA) and developer comments, staging revisions due to unforeseen complications with SFMTA approval, and storm drain modifications due to field conditions differing from the plans. The estimated cost of these change orders is $55,000.
During this early stage of construction, excavated materials have been stockpiled on the project site and chemical and material tests were performed in anticipation of re-use of a portion of the material as fill material for the project. However, two stockpiles have been found to be contaminated and cannot be re-used. One stockpile has been classified as non-hazardous contaminated material due to oil contamination. This material must be off-hauled to an appropriate disposal site. A second stockpile has been classified as California Hazardous Material due to lead contamination. We presume this contamination is due to aerially deposited lead. A third area has not yet been excavated but preliminary testing suggests it also may be lead-contaminated. Working with Caltrans staff, the lead-contaminated material is likely going to be off-hauled to a Caltrans project site where it can be appropriately encapsulated within the fill embankment of that project. The total cost associated with the testing, containing, and removing of these unforeseen contaminated soils is approximately $293,000.
Change Orders Budget: In order to construct the project, the Transportation Authority has entered into agreements with the California Highway Patrol, the San Francisco Public Utilities Commission, and other agencies. In addition, construction projects are constantly dealing with unforeseen circumstances, thus project sponsors must always prepare for the unexpected. In addition to the change orders already issued or impending, there may be other change orders needed as the project progressed. To ensure continued work on the project without delays, the amended project budget includes an additional $213,800 for additional construction activities cost. This estimate is over and above the construction allotment of $187,000 previously approved through Resolution 14-84.
Funding: All project expenditures will be 100% reimbursed by OCII per the MOA with OCII for the project. The recommended amendment of the aforementioned contracts is contingent on an amendment to the MOA, which is anticipated to be approved by the OCII Commission on January 20, 2015.
Small Business Enterprise (SBE) and Disadvantaged Business Enterprise (DBE) Participation: For the Design Services Contract, we established a DBE goal of 25%. The MTCo team met that goal for design services, however with the extension of the contract to include construction-phase engineering services the expected DBE participation has dropped to 24%.
For the Construction Management Services contract, we established a SBE/DBE goal of 100%. The S&CE team has met that goal and anticipates meeting that goal with the requested contract amendment.
For the Construction Contract, at the direction of OCII, we established a SBE goal of 50%. The bid submitted by OCJ was approved by both the Transportation Authority and OCII with a SBE commitment 38.34%. It is expected that, since most of the additional services will be performed by SBE subcontractors, OCJ will exceed this commitment.
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M:\Finance\2015\Memos\01 Jan\Folsom Contract Amendments.docx Page 4 of 5
ALTERNATIVES
1. Recommend increasing the amount of the professional Services contract with Mark Thomas & Company, Inc. by $66,841 to a total amount not to exceed $665,022 for planning, environmental, and engineering services; increasing the amount of the professional services contract with S&C Engineers, Inc. by $130,000, to a total amount not to exceed $550,700, for construction management services; increasing the amount of the construction contract with O.C. Jones & Sons, Inc. by $348,000 to a total amount not to exceed $2,369,468; authorizing the Executive Director to modify payment terms and non-material contract terms and conditions for all three contracts; and authorizing an additional construction allotment of $213,800 to a total amount not to exceed $400,800 for the Folsom and Fremont Street Off-Ramp Realignment Project, as requested.
2. Recommend increasing the amount of the professional Services contract with Mark Thomas & Company, Inc. by $66,841 to a total amount not to exceed $665,022 for planning, environmental, and engineering services; increasing the amount of the professional services contract with S&C Engineers, Inc. by $130,000, to a total amount not to exceed $550,700, for construction management services; increasing the amount of the construction contract with O.C. Jones & Sons, Inc. by $348,000 to a total amount not to exceed $2,369,468; authorizing the Executive Director to modify payment terms and non-material contract terms and conditions for all three contracts; and authorizing an additional construction allotment of $213,800 to a total amount not to exceed $400,800 for the Folsom and Fremont Street Off-Ramp Realignment Project, with modifications.
3. Defer action, pending additional information or further staff analysis.
CAC POSITION
The CAC last met on December 3 for its combined November/December meeting. The subject request was not presented to the CAC for consideration at its December meeting since costs and impacts of the contaminated materials discovery were still underway.
FINANCIAL IMPACTS
These contract amendments will be 100% reimbursed by OCII and will be included in the Transportation Authority’s mid-year budget amendment for Fiscal Year 2014/15. The project is expected to be completed within Fiscal Year 2014/15. Sufficient funds will be included in future fiscal year budgets to cover the remaining cost of this contract if necessary.
RECOMMENDATION
Recommend increasing the amount of the professional Services contract with Mark Thomas & Company, Inc. by $66,841 to a total amount not to exceed $665,022 for planning, environmental, and engineering services; increasing the amount of the professional services contract with S&C Engineers, Inc. by $130,000, to a total amount not to exceed $550,700, for construction management services; increasing the amount of the construction contract with O.C. Jones & Sons, Inc. by $348,000 to a total amount not to exceed $2,369,468; authorizing the Executive Director to modify payment terms and non-material contract terms and conditions for all three contracts; and authorizing an additional construction allotment of $213,800 to a total amount not to exceed $400,800 for the Folsom and Fremont Street Off-Ramp Realignment Project.
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M:\Finance\2015\Memos\01 Jan\Folsom Contract Amendments.docx Page 5 of 5
Attachments (2): 1. Mark Thomas & Company, Inc. Contract Amendment Scope of Services 2. S&C Engineers, Inc. Contract Amendment Scope of Services
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Page 1 of 2
Prepared November 6, 2014
San Francisco County Transportation Authority
County and City of San Francisco (Successor Agency to the SFRA)
FOLSOM-FREMONT OFF-RAMP MODIFICATION PROJECT
(at Westbound I-80 in San Francisco)
SFCTA Contract No. 07/08-48
REQUEST FOR ADDITIONAL DESIGN SERVICES
FOR CALTRANS APPROVAL OF PS&E AND
TO SECURE ENCROACHMENT PERMIT
Contract Amendment C
The Scope of Work described in SFCTA Contract Amendment C executed in July 31, 2013 involved
restarting the final design approval of Folsom-Fremont Off-Ramp Modification Project, which was put on
hold less than two years ago in November 2011. The project milestones that were successfully completed
before the project was stopped included Caltrans 95% PS&E submittal in May 2011 and Caltrans PID
(Project Initiation Document) approval of Permit Engineering Evaluation Report (PEER) on October
2011.
This Scope of Work for Final PS&E Approval anticipated only two (2) milestone submittals to secure the
Caltrans Encroachment Permit because the same key design and Caltrans’ engineers were still involved
with the project and had knowledge of project history. The proposed project milestones submittal to
complete PS&E phase was identified as:
100% PS&E Package (incorporating Caltrans comments dated May 2011 of 95% PS&E Package)
Final PS&E Package with Caltrans Encroachment Permit Application
However, Caltrans PS&E Approval as anticipated above took additional effort. Below describes the
engineering effort and the project timeline to obtain Caltrans PS&E approval and to secure the
Encroachment Permit for Construction.
100% PS&E Submittal on 11/12/13
The 100% PS&E Package was submitted on November 12, 2013, which the design team reviewed and
incorporated over 100 minor comments from various typical Caltrans functional units (Highway Ops,
Electrical Design, Geometric Design, Traffic Safety, Traffic Management, Materials, Structures, Toll
Bridge, Maintenance & Toll, Water Quality, Hydraulics and Construction). We also incorporated MTA
comments for the traffic signal design.
Final PS&E Submittal on 1/31/14
Through December 2013, we received Caltrans comments of this 100% PS&E package and received
unexpectedly hundred (100) new roadway comments and thirty (30) new structures comments from same
Caltrans functional units but different review engineers. These review comments were much more than
anticipated. There were no major roadway comments but significant effort to incorporate, address and
respond to. However, structures review comments required additional analysis than expected to satisfy
Caltrans’ reviewers. One of these new comments included addressing differential settlement of the
Attachment 1120
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Page 2 of 2
proposed MSE (Mechanically Stabilized Reinforced Earth) wall along the new alignment of off-ramp.
Even though the existing Folsom-Fremont off- ramp embankments are currently retained with similar
MSE walls on both sides, we could not prepare appropriate responses that would satisfy the Caltrans
structures reviewer. We noted MSE walls are ideal retaining walls types where settlement is expected to
occur. To satisfy this review comment, we proposed establishing a monitoring system to track settlement.
This monitoring system included installing a nail/shiner within a few of the exterior MSE wall panels and
then surveying the locations of these nail/shiners shortly after installation. Caltrans would then monitor
any movement in the future. Caltrans also informed the design team that the existing geotechnical report
had to update with the new Guidelines for preparing Geotechnical Design Reports for Earth Retaining
Systems. Also, as part of this submittal, the design team was coordinating with Block 6&7 developer and
incorporating MTA review comments on the traffic signal design.
Final#01 PS&E Submittal on 3/17/14 and Final#02 PS&E Package on 4/11/14
Through February 2014, we received about sixteen (16) comments from Caltrans on the roadway design
and two (2) comments from structures design. The design team incorporated these comments in timely
manner and resubmitted Final PS&E for approval on March 17, 2014. Unfortunately, Caltrans had a few
additional comments and the design team needed to resubmit entire PS&E package one more time on
April 11, 2014 along with SFCTA’s signed Encroachment Permit application for construction. Caltrans
issued SFCTA the Encroachment Permit for Construction on May 1, 2014.
ADDITIONAL SERVICES REQUEST Compensation of the scope changes to respond to Caltrans additional PS&E review comments and for Final PS&E approval to secure the Encroachment Permit has been computed on an hourly (time and materials) basis, based on the Charge Rate Schedule (Old Effective April 2, 2007) attached hereto with a not-to-exceed total fee, as follows:
a) Roadway Design Revisions
Assistant Engineer 60.0 hrs @ $ 109.00/hr $ 6,540
Associate Engineer 80.0 hrs @ $ 133.00/hr 10,640
Project Engineer 40.0 hrs @ $ 195.00/hr 7,800
Project Manager 20.0 hrs @ $ 205.00/hr 4,100 Subtotal $ 29,080
b) MSE Retaining Wall Design Revisions
AGS $ 3,825
Assistant Engineer 80.0 hrs @ $ 109.00/hr 8,720
Structural Engineer 110.0 hrs @ $ 105.00/hr 11,550
Structural Manager 12.0 hrs @ $ 243.00/hr 2,916
Subtotal $ 27,011
c) Traffic Signal Design Revisions and Coordination
CHS Consulting Group $ 8,600
Associate Engineer 10.0 hrs @ $ 133.00/hr 1,330
Project Manager 4.0 hrs @ $ 205.00/hr 820 Subtotal $ 10,750
TOTAL FOR ADDITIONAL SERVICES $ 66,841
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Additional Scope of Work for
S&C Engineers, Inc.
Folsom and Fremont Street Off-Ramp Realignment Project Contract No. 13/14-23
November 26, 2014
PRE-CONSTRUCTION RELATED ACTIVITIES
PC-1 - Merging of Caltrans and SFDPW Specifications
The Project consists of work within both the City of San Francisco and Caltrans right-of-way. The work on Fremont Street, although mostly within the Caltrans right-of-way, is required to comply with the standards of the San Francisco Department of Public Works (SFDPW) as well as Caltrans’ standards. During the constructability review, S&C Engineers identified the SFDPW standards, which were incorporated into the project specifications by reference, were in conflict with the Caltrans standard specifications that formed the basis of the specifications. In order to avoid potential disputes and unnecessary changes and delays during the Project, S&C Engineers devoted significant effort reviewing SFDPW’s specifications and working with SFDPW and Caltrans to reach agreement on mutually acceptable requirements. Based upon the agreed upon requirements, S&C Engineers developed project specifications to merge the requirements of SFDPW and Caltrans into a single specification.
During this effort, SFDPW provided updated specifications which required additional effort to review the updated requirements and perform further editing of the project specifications.
Estimated Additional Cost: 56 hours @ $189/hr = $10,584
PC- 2 - Incorporation of Additional City, SFMTA and SFPUC Requirements
During the constructability review, S&C Engineers identified numerous requirements of the City, SFMTA and SFPUC that were not incorporated into the specifications. These requirements primarily included permits such as the City’s Street Space Permit, Excavation Permit and Nighttime Noise Permit; SFMTA’s Special Traffic Permit; and SFPUC’s Construction Site Runoff Control Permit. S&C Engineers investigated the specific permit requirements and prepared specifications to incorporate these into the project specifications.
Estimated Additional Cost: 56 hours @ $189/hr = $10,584
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Additional Scope of Work – S&C Engineers, Inc. Page 2 of 7 Folsom and Fremont Street Off-Ramp Realignment Project PC-3 - Incorporation of Transbay Transit Center Mitigation Monitoring and Reporting
Program Requirements
As part of the Transbay Redevelopment, the Project is required to comply with the Federal Environmental Impact Report (FEIR) and the Mitigation, Monitoring and Reporting Program (MMRP) requirements in the TJPA CEQA document. The FEIR and MMRP requirements were incorporated into the contract documents by reference. However, it was determined that the FEIR and MMRP requirements, as written, were non-enforceable as many of the requirements were not pertinent to the Project and were written as guidelines as opposed to specific enforceable requirements. At the request of the SFCTA, S&C Engineers drafted language to incorporate the applicable requirements into the project as contract specifications.
Estimated Additional Cost: 16 hours @ $189/hr = $3,024
PC-4 - Editing of the Division I and II Specifications
The contract specifications are based upon the Caltrans 2010 Standard Specifications. The Division I and II specifications in the Caltrans Standard Specifications address the administrative and legal requirements of the Contract, but are based upon processes and requirements unique to Caltrans. S&C Engineers was requested by the SFCTA to prepare the “boilerplate” language to modify the requirements in the Caltrans Division I and II specifications to incorporate SFCTA’s and OCII’s administrative and legal requirements.
Estimated Additional Cost: 48 hours @ $189/hr = $9,072
PC- 5 - Bid book
S&C Engineers’ original cost proposal included only a constructability review of the contract documents. However, S&C Engineers was requested by SFCTA to assist with the preparation of the Bid Book.
Estimated Additional Cost: 24 hours @ $189/hr = $4,536
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Additional Scope of Work – S&C Engineers, Inc. Page 3 of 7 Folsom and Fremont Street Off-Ramp Realignment Project PC-6 - Development of SBE Requirements
OCII imposed an SBE goal for the project, based upon OCII’s SBE policy. OCII proposed that their policy be incorporated into the Contract by reference. However, upon reviewing the policy, S&C determined that the policy, as written, contained non-enforceable language which was not suitable for incorporation into the Contract. Therefore, S&C Engineers re-drafted OCII’s SBE policy in the form of an enforceable specification. This effort required a thorough review of OCII’s SBE policies, meetings with SFCTA and OCII to clarify the essential elements of the SBE policy, and drafting appropriate specification language.
Estimated Additional Cost: 24 hours @ $189/hr = $4,536
PC-7 - Review of the Contractor’s SBE good faith efforts
The lowest bidder did not achieve the 50% SBE goal. However, the bidder submitted extensive documentation to demonstrate they performed a good faith effort to achieve the established goal. Therefore, prior to awarding the Contract to the low bidder, it was necessary to determine the criteria for evaluating the Contractor’s good faith effort and review the submitted documentation to verify that the Contractor’s documented efforts demonstrated a good faith effort based upon this criteria. A review of the good faith efforts of the non-successful bidders was also performed for comparison purposes. A report of the findings was also prepared for consideration by SFCTA and OCII.
Estimated Additional Cost:
S&C Engineers: 20 hours @ $189.00/hr = $3,780 Paul Pendergast: 5 hours @ $193.80/hr = $ 969
Total: $4,749 CONSTRUCTION RELATED ACTIVITIES C-1 - Additional Public Outreach Efforts
Due to the SFCTA’s concerns regarding potential impacts to traffic during the implementation of the initial closure of the Folsom Off-Ramp, additional efforts beyond those originally contemplated were devoted to public outreach to ensure the public was properly notified of the upcoming work and the resulting impacts to traffic. Additional efforts included preparation and distribution of flyers to drivers at the Folsom Off-Ramp, outreach to local businesses and agencies not contemplated in the original outreach plan, and coordination for posting advance
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Additional Scope of Work – S&C Engineers, Inc. Page 4 of 7 Folsom and Fremont Street Off-Ramp Realignment Project
notification to drivers. S&C Engineers also provided staff to distribute flyers to MUNI riders due to the required relocation of a MUNI stop necessitated by the temporary closure of the Folsom Off-Ramp during construction.
Estimated Additional Cost:
Inspectors: 16 hours @ $123.59/hr = $1,977.44 Resident Engineer: 12 hours @ $189.00/hr = $2,268.00 Total: $4,245.44
C-2 - Signal Changes
Upon meeting with the Block 6 developer to coordinate the work between the projects, it was identified that the planned location of Signal Pole B and the controller and battery back-up cabinet conflicted with the planned Block 6 improvements. Additional changes were made to the signal system to address Caltrans and SFMTA requirements. Additional time was expended for attending meetings, reviewing the Block 6 plans, preparing correspondence related to addressing these conflicts, preparing exhibits showing the conflict and possible alternatives, reviewing the revised plans for addressing the conflicts and obtaining Caltrans and SFMTA concurrence for the changes. Additional time will be required for developing a cost estimate for the work, reviewing the Contractor’s cost proposal, negotiating a cost for the changes, preparing a change order and administering the changed work.
Estimated Additional Cost: 56 hours @ $189/hr = $10,584
C-3 - Coordination with Block 6 Developer and TJPA
It was originally contemplated that the work would be completed prior to any significant work associated with the Block 6 development and that access by the Block 6 developers would not impact the Project. However, construction work for Block 6 began prior to the beginning of work on the Project. The Block 6 contractor also established an access point for their project and occupied the sidewalk within the work limits on Fremont Street. This required additional time to meet with and coordinate the work of the Project with the Block 6 developer. Additionally, coordination with TJPA was required to arrange for their extended use of Block 8 to perform geotechnical site investigation. The need to coordinate with the Block 6 developer will be ongoing throughout the Project in order to prevent impacts to both projects.
Estimated Additional Cost: 24 hours @ $189/hr - $4,536
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Additional Scope of Work – S&C Engineers, Inc. Page 5 of 7 Folsom and Fremont Street Off-Ramp Realignment Project C-4 - Attendance at Additional Meetings
Due to the proximity of the work to the Transbay Transit Center Project, S&C Engineers attends the bi-weekly Transbay bi-weekly traffic coordination meetings, as needed, to keep the Transbay Transit Center Project and the Block 6 development project informed of potential impacts resulting from this project and to coordinate the work between the various projects. Additionally, S&C Engineers has been requested by Caltrans to attend the weekly Caltrans Bay Bridge Traffic Coordination Meetings, as needed, to coordinate the traffic control for the Project with the various other ongoing Bay Bridge construction projects.
Estimated Additional Cost: 12 meetings @ 2 hrs each = 24 hrs
24 hours @ $189/hr = $4,536.00 C-5 - Additional coordination with Golden Gate Transit and SFMTA
During the work it was determined that there is an active Golden Gate Transit (GGT) bus stop on Fremont Street within the limits of the Project. Due to the location of the bus stop, the SFMTA would not permit the Transportation Authority to fully implement the portion of the Stage 1 traffic handling shown on the Plans which will eliminate the dedicated bus/taxi lane on Fremont Street where the existing bus stop is located. Additional effort was expended to develop alternatives to address SFMTA’s concerns regarding the Stage 1 traffic handling. The preferred alternative is to relocate the existing GGT bus stop another location on Fremont Street currently occupied by parking meters. This alternative is moving forward. However, additional effort remains to coordinate the bus stop relocation with GGT and the SFMTA.
Estimated Additional Cost: 32 hours @ $189/hr = $6,048.00 C-6 - Multiple Reviews of Submittals
Numerous submittals have required multiple reviews due to incorrect information. In order to avoid delays to the beginning of the work and enable as much work as possible to proceed before the onset of rain, S&C Engineers also expended effort to assist the Contractor in finalizing critical submittals, such the Erosion Control Plan which was required to be approved by SFPUC prior to the start of work.
Estimated Additional Cost: 32 hours @ $189/hr = $6,048.00
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Additional Scope of Work – S&C Engineers, Inc. Page 6 of 7 Folsom and Fremont Street Off-Ramp Realignment Project C-7 - Preparation of Structure Inspection Quality Management Plan (SIQMP)
When preparing the budget for the construction management costs, it was S&C Engineers’ understanding that Caltrans was not going to require a SIQMP for the Project. However, we were informed by Caltrans in October that an SIQMP is required. In addition to additional costs incurred to prepare the SIQMP, monthly reports are required to be submitted to Caltrans in conjunction with the SIQMP.
Estimated Additional Cost: 44 hours @ $189/hr = $8,316
C-8 – Subcontractor Substitutions and Subletting
Additional effort has been expended to resolve the unauthorized substitution of the temporary fencing subcontractor and subletting of work by an SBE subcontractor to non-SBE second tier subcontractors. Estimated Additional Cost: 12 hours @ $189/hr = $2,268
C-9 – Contaminated Soil
The presence of contamination in the stockpiled soil excavated within the project has been identified. It is unknown at this time what additional effort will be required to address this. However, it is recommended at this time that an amount of $5,000 be allocated to address this. Estimated Additional Cost: $5,000
C-10 – Allocation for Miscellaneous Additional Work
Due to the nature of construction, unanticipated additional work of a minor nature is unavoidable. Therefore, for budgetary purposes, it is recommended that an additional $5,000 be allocated to cover minor additional costs as the need arises.
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Additional Scope of Work – S&C Engineers, Inc. Page 7 of 7 Folsom and Fremont Street Off-Ramp Realignment Project WEATHER-RELATED IMPACTS W-1 – Extended Performance Period and Additional Costs due to Weather Impacts
S&C Engineers’ original cost proposal contemplated construction on the Project beginning in mid-April 2014 and completion of the Project by December 15, 2014. Based upon the preliminary project schedule prepared by S&C Engineers, it was anticipated that the majority of the earthwork activities that would be impacted by rain would have been completed prior to the beginning of the wet season. Due to various issues beyond the control of SFCTA and S&C Engineers, the advertisement of the Project was delayed by several months. This has resulted in the work being performed during the wet season, which will subject the work to delays due to rain. The extent of weather-related impacts to the project cannot be ascertained in advance. However, a reasonable estimate of weather-related delays for budgetary purposes can be assumed to be five days per month. Based upon the above, it is anticipated that work on the Project may be extended by a period of approximately 20 working days due to weather impacts. This will extend the performance period of S&C Engineers accordingly and will require additional work to address weather-related issues, review the site for compliance with stormwater pollution prevention requirements, and address potential non-compliance issues.
Estimated Additional Cost:
Resident Engineer: 20 days x 4 hrs = 80 hours
80 hours @ $189/day = $15,120 Inspector: 20 days x 8 hrs = 160 hours
160 hours @ $123.59 = $19,774 Total: $34,894
____________________________________________________________________________
See attached summary of costs on next page
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M:\Finance\2015\Memos\01 Jan\West Side Transit Access SAR Memo.docx Page 2 of 3
ongoing studies and trends, the West Side needs a vision for what it would take to create the kind of high-quality transportation offerings that would reduce reliance on private vehicles and shift additional trips to transit, focusing on one or more specific travel markets.
DISCUSSION
As called for in the Transportation Authority’s procedures governing the development of SARs, the scope of work must be presented to the committee on which the requester sits (in this case, the Finance Committee) and the Transportation Authority Board for approval. The committee and Board will review and provide guidance on the scope of work and schedule before staff proceeds further with SAR development.
The SAR will identify the top priority travel market(s) of interest; explore the current travel patterns of those in the target market; identify the transportation options already available to them and those planned for the future; identify strategic issues and opportunities for each of the selected travel markets; and make recommendations for follow-on work to advance one or more specific project concepts.
The identification of new opportunities for improving alternative mode access for one or more specific travel markets and groups of travelers in the short and medium-terms will be a core part of the SARs analysis. The SAR will examine:
What additional specific strategies could the city pursue to raise the attractiveness of transit in the selected markets, beyond those that are already planned?
What types of projects would best achieve this, by addressing the gaps or enhancing existing offerings, in the short- and medium terms?
What are potential new policies or roles should be considered along with these projects, for the public and/or private sectors?
Possible travel markets of focus could include: improving options for students seeking to access San Francisco State University or other major educational institutions in the west side; improving options for commuters bound for the south bay; or improving options for commuters bound for downtown. The final area(s) of focus will be confirmed through analysis.
We estimate that the SAR could be completed in approximately six months for a total expected cost of $30,000. We anticipate performing most of the work in-house, with some consultant assistance (about $10,000) from our on-call planning contracts, which is the subject of a separate agenda item for the January 13 Finance Committee meeting.
We budgeted for two SARs in Fiscal Year 2014/15. If approved, this would be the first SAR authorized this fiscal year.
ALTERNATIVES
1. Recommend approving the scope of work for the Improving West Side Transit Access SAR, as requested.
2. Recommend approving the scope of work for the Improving West Side Transit Access SAR, with modifications.
3. Defer action, pending additional information or further staff analysis.
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M:\Finance\2015\Memos\01 Jan\West Side Transit Access SAR Memo.docx Page 3 of 3
CAC POSITION
Due to the year-end holidays, the Citizens Advisory Committee (CAC) does not meet in late December and therefore, did not take a position on this item. If the Board approves the scope of work, we will present it to the CAC on January 28 as an information item and seek the CAC’s input.
FINANCIAL IMPACTS
The adopted FY 2014/15 agency budget and work program assumed preparation of two SARs. If approved at the estimated cost of $30,000, there would be no impact on the adopted budget. SARs are funded through Prop K and/or federal Congestion Management Agency planning funds.
RECOMMENDATION
Recommend approving the scope of work for the Improving West Side Transit Access SAR.
Attachment: 1. Improving West Side Transit Access SAR Scope of Work
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Attachment 1.
Improving West Side Transit Access
Strategic Analysis Report (SAR)
Draft Scope of Work January 8, 2015
I. Background
A. About SARs: This is a standard section included in all Strategic Analysis Reports (SARs). It describes the SAR development and review process and the role of the document in facilitating policy-level decision-making.
B. History/Context: Equity Analysis conducted for the San Francisco Transportation Plan (SFTP) identified geographic disparities in transit access in the city’s outlying neighborhoods including the west side. As a result of this and other factors, a disproportionate share of west side residents drive alone to work and for shopping and errands. The Sunset District Blueprint, completed in 2014, identified concerns with unreliable or infrequent transit service as a top community concern.
Major strides are being made to improve the quality of transit services serving the west side through the Muni Forward project. Muni Forward will result in frequency, speed and/or reliability improvements to eight transit lines (L-Taraval; N-Judah; 16X-Noriega Express; 18-46th Avenue; 28/28L-19th Avenue; 29-Sunset; 48-Quintara;and the 71L-Haight Noriega). Other studies such as the Metropolitan Transportation Commission’s (MTC’s) upcoming Bay Area Core Capacity Transit Study offers an opportunity to study M-Oceanview improvements and regional express bus services for the west side, to destinations within San Francisco or across the bay to Oakland. Finally, the successful piloting of bike-sharing, citywide focus on improving bicycle and pedestrian facilities, and proliferation of new shared-use and privately provided mobility options on the west side present opportunities for improving transit access.
To inform these ongoing studies and trends, the West Side needs a vision for what it would take, beyond what is already planned, to create the kind of high-quality transportation offerings that would reduce reliance on private vehicles and shift additional trips to transit.
C. Purpose of the SAR:
This SAR will build on work prepared for the Sunset Blueprint, Muni Forward, SFTP and other efforts, to examine high-level options for improving transit access to the west side, focusing on one or more specific travel markets and groups of travelers, which will be identified through analysis.
D. Review of Other Studies and Documents: Several relevant documents will be reviewed as part of this SAR. They include:
The Sunset District Blueprint, which identified key transit hubs within the district that need improvement. These include stops on the N Judah
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Attachment 1.
(where Judah intersects La Playa and 46th); the L Taraval (at Wawona and 46th, Tarval and 22nd, and Taraval and 46th), and several others along the 28L, 29 Sunset, and 71 Haight. The Blueprint also notes several pedestrian and bicycle safety concerns that may present barriers to transit access.
The Muni Forward project, which includes conceptual plans for transit upgrades on key transit lines throughout the city, including the N Judah, L Tarval, and others in the district. Any specific improvements already planned for major transit hubs will be inventoried. Boardings by west side transit stops will also be reviewed to ensure focus on the most used stops.
The San Francisco Transportation Plan (SFTP), which identified a geographic disparity around transit reliability and access to regional services for neighborhoods like the west side of the city. Since the study was published, issues around turnbacks have abated and the SFMTA successfully introduced popular new services like the NX express bus.
SPUR’s Ocean Beach Master Plan, a comprehensive vision to address sea level rise, protect infrastructure, restore coastal ecosystems and improve public access, will be reviewed, along with any relevant follow-on studies.
Professor Susan Shaheen’s Shared Use Mobility Summit White Paper, which documented the policy issues and opportunities for shared use mobility discussed at a summit held in San Francisco in October 2013.
II. Strategic Analysis
A. Existing Conditions: This section will summarize existing travel data and collect new data, e.g. through focus groups and interviews, to better understand west side travel markets, particularly automobile trips, in an effort to improve the competitiveness of transit and alternative modes. It will examine the following questions:
a. What are the top travel markets to and from the west side? This analysis will examine the major origins of destinations of west side residents and identify top destinations for different types of trips. For example, the analysis could identify downtown and the south bay as top destinations for commuters. The analysis will also identify the current mode choices of travelers in these markets (e.g. what share of travelers are using transit versus driving alone, walking, or bicycling). One or more top travel markets will be identified as a focus for the remainder of the SAR. For example, options for focused travel markets could include student trips to major educational institutions; commuter trips downtown; or commuter trips to south bay.
b. What options do travelers in the selected markets currently have for completing their trip, and how competitive are these options with the private automobile? The SAR will also take a special look at the rise of shared mobility services and how these are changing travel habits.
c. What plans are already in place to improve the quality of alternatives to the automobile in the selected market(s), through projects such as Muni Forward, regional transit improvements, major bicycle network improvements, high-occupancy vehicle (HOV) lanes and other freeway
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Attachment 1.
management treatments, fare policies, or other relevant options? Are these improvements expected to be sufficient to result in a significant reduction of reliance on private automobiles for this trip?
C. Strategic Issues and Opportunities: This section would identify new opportunities for improving alternative mode access for one or more specific travel markets and groups of travelers in the short and medium-terms It will examine:
a. What additional specific strategies could the city pursue to raise the attractiveness of transit in the selected markets, beyond those that are already planned?
b. What types of projects would best achieve this, by addressing the gaps or enhancing existing offerings, in the short- and medium terms?
c. What are potential new policies or roles should be considered along with these projects, for the public and/or private sectors?
III. Next Steps/Recommendations
The SAR will develop a set of recommendations for follow-on work to advance one or more specific project concepts, including likely order-of-magnitude cost and level of effort, responsible agencies, and possible funding sources for implementation.
IV. Bibliography
This section will identify the bibliography as well as individuals and organizations consulted in the process of developing the SAR.
136
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San
Fra
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co C
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port
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2015
M
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Jan\
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TA M
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Page
1 o
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Bill
s of
Int
eres
t
To
view
doc
umen
ts a
ssoc
iate
d w
ith
the
bill,
clic
k th
e bi
ll nu
mbe
r lin
k. T
o vi
ew th
e bi
ll te
xt, c
lick
the
PD
F o
r H
TM
L li
nk.
Staf
f is
rec
omm
endi
ng n
o ne
w s
uppo
rt o
r op
pose
pos
ition
s th
is m
onth
.
Bill
#
Aut
hor
Des
crip
tion
St
atus
Pos
itio
nC
omm
ents
AB
2
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Ale
jo D
(D
ist 3
0)
Com
mun
ity
revi
taliz
atio
n au
thor
ity.
W
ould
sta
te th
e in
tent
of
the
Leg
isla
ture
to e
nact
legi
slat
ion
that
wou
ld
auth
oriz
e ce
rtai
n lo
cal a
genc
ies
to f
orm
a c
omm
unity
rev
italiz
atio
n au
thor
ity w
ithin
a c
omm
unity
rev
italiz
atio
n an
d in
vest
men
t are
a, a
s de
fined
, to
carr
y ou
t pro
visi
ons
of th
e C
omm
unity
Red
evel
opm
ent L
aw
in th
at a
rea
for
purp
oses
rel
ated
to, a
mon
g ot
her
thin
gs, i
nfra
stru
ctur
e,
affo
rdab
le h
ousi
ng, a
nd e
cono
mic
rev
italiz
atio
n, a
nd to
pro
vide
for
the
finan
cing
of
thes
e ac
tiviti
es b
y, a
mon
g ot
her
thin
gs, t
he is
suan
ce o
f bo
nds
serv
iced
by
tax
incr
emen
t rev
enue
s.
Ass
embl
yP
rint
Wat
ch
Spot
bill
. The
ulti
mat
e in
tent
is f
or a
bill
th
at w
ould
per
mit
the
esta
blis
hmen
t of
loca
l com
mun
ity r
evita
lizat
ion
auth
oriti
es th
at w
ould
fin
ance
pro
ject
s us
ing
tax
incr
emen
t rev
enue
s.
AB
4
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Lin
der
R
(Dis
t 60)
Veh
icle
wei
ght
fees
: tra
nspo
rtat
ion
bond
deb
t se
rvic
e.
Wou
ld, n
otw
ithst
andi
ng s
peci
fied
prov
isio
ns o
r an
y ot
her
law
, unt
il Ja
nuar
y 1,
202
0, p
rohi
bit w
eigh
t fee
rev
enue
s fr
om b
eing
tran
sfer
red
from
the
Stat
e H
ighw
ay A
ccou
nt to
the
Tra
nspo
rtat
ion
Deb
t Ser
vice
F
und,
the
Tra
nspo
rtat
ion
Bon
d D
irect
Pay
men
t Acc
ount
, or
any
othe
r fu
nd o
r ac
coun
t for
the
purp
ose
of p
aym
ent o
f th
e de
bt s
ervi
ce o
n tr
ansp
orta
tion
gene
ral o
blig
atio
n bo
nds,
and
wou
ld a
lso
proh
ibit
loan
s of
w
eigh
t fee
rev
enue
s to
the
Gen
eral
Fun
d.
Ass
embl
yP
rint
Wat
ch
Sim
ilar
to s
ever
al b
ills
from
201
4, th
is
bill
seek
s to
res
tore
sta
te tr
uck
fees
to
fund
hig
hway
rep
air
inst
ead
of
supp
ortin
g P
rop.
1B
bon
d de
bt s
ervi
ce.
AB
6
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Wilk
R
(Dis
t 38)
Bon
ds: t
rans
port
atio
n: s
choo
l fac
iliti
es.
Wou
ld p
rovi
de th
at n
o fu
rthe
r bo
nds
shal
l be
sold
for
hig
h-sp
eed
rail
purp
oses
pur
suan
t to
the
Safe
, Rel
iabl
e H
igh-
Spee
d P
asse
nger
Tra
in
Bon
d A
ct f
or th
e 21
st C
entu
ry, e
xpec
t as
spec
ifica
lly p
rovi
ded
with
re
spec
t to
an e
xist
ing
appr
opria
tion
for
high
-spe
ed r
ail p
urpo
ses
for
early
im
prov
emen
t pro
ject
s in
the
Pha
se 1
ble
nded
sys
tem
. The
bill
, sub
ject
to
the
abov
e ex
cept
ion,
wou
ld r
equi
re r
edire
ctio
n of
the
unsp
ent p
roce
eds
rece
ived
fro
m o
utst
andi
ng b
onds
issu
ed a
nd s
old
for
othe
r hi
gh-s
peed
ra
il pu
rpos
es p
rior
to th
e ef
fect
ive
date
of
thes
e pr
ovis
ions
, upo
n ap
prop
riat
ion,
for
use
in r
etir
ing
the
debt
incu
rred
fro
m th
e is
suan
ce a
nd
sale
of
thos
e ou
tsta
ndin
g bo
nds.
The
se p
rovi
sion
s w
ould
bec
ome
effe
ctiv
e on
ly u
pon
appr
oval
by
the
vote
rs a
t the
nex
t sta
tew
ide
elec
tion.
Ass
embl
yP
rint
Opp
ose
P
rohi
bits
sal
e of
bon
ds to
sup
port
Hig
h-Sp
eed
Rai
l pro
gram
. Dir
ects
uns
pent
bo
nd f
unds
to r
etire
deb
t fro
m P
rop
1A
and
wou
ld a
utho
rize
use
of
bond
pr
ocee
ds f
or K
-12
build
ing
purp
oses
.
137
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Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
Janu
ary
2015
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nanc
e\20
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emos
\01
Jan\
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TA M
atri
x.do
cx
Page
2 o
f 5
Bill
#
Aut
hor
Des
crip
tion
St
atus
Pos
itio
nC
omm
ents
AB
8
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Gat
to D
(D
ist 4
3)
Em
erge
ncy
serv
ices
: hit
-and
-run
inci
dent
s.
Wou
ld a
utho
rize
a la
w e
nfor
cem
ent a
genc
y to
issu
e a
Yel
low
Ale
rt if
a
pers
on h
as b
een
kille
d or
has
suf
fere
d se
riou
s bo
dily
inju
ry d
ue to
a h
it-an
d-ru
n in
cide
nt a
nd th
e la
w e
nfor
cem
ent a
genc
y ha
s sp
ecifi
ed
info
rmat
ion
conc
erni
ng th
e su
spec
t or
the
susp
ect’s
veh
icle
. The
bill
w
ould
req
uire
the
Dep
artm
ent o
f th
e C
alifo
rnia
Hig
hway
Pat
rol t
o ac
tivat
e a
Yel
low
Ale
rt w
ithin
the
requ
este
d ge
ogra
phic
are
a up
on r
eque
st
if it
conc
urs
with
the
law
enf
orce
men
t age
ncy
that
spe
cifie
d re
quire
men
ts
are
met
.
Ass
embl
yP
rint
Supp
ort
Thi
s bi
ll ex
pand
s th
e A
mbe
r A
lert
sy
stem
to c
reat
e a
new
yel
low
ale
rt to
ca
ll at
tent
ion
to h
it an
d ru
n in
cide
nts
whe
n a
pers
on d
ies
or s
uffe
rs b
odily
ha
rm.
AB
23
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Pat
ters
on R
(D
ist 2
3)
Cal
ifor
nia
Glo
bal W
arm
ing
Solu
tion
s A
ct o
f 200
6: m
arke
t-ba
sed
com
plia
nce
mec
hani
sms:
exe
mpt
ion.
T
he C
alifo
rnia
Glo
bal W
arm
ing
Solu
tions
Act
of
2006
aut
hori
zes
the
Stat
e A
ir R
esou
rces
Boa
rd to
incl
ude
the
use
of m
arke
t-ba
sed
com
plia
nce
mec
hani
sms.
Cur
rent
sta
te b
oard
reg
ulat
ions
req
uire
spe
cifie
d en
titie
s to
co
mpl
y w
ith a
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 20
13, a
nd r
equi
re a
dditi
onal
spe
cifie
d en
titie
s to
com
ply
with
that
m
arke
t-ba
sed
com
plia
nce
mec
hani
sm b
egin
ning
Jan
uary
1, 2
015.
Thi
s bi
ll w
ould
inst
ead
exem
pt th
ose
cate
gori
es o
f pe
rson
s or
ent
ities
that
did
not
ha
ve a
com
plia
nce
oblig
atio
n, a
s de
fined
, und
er a
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 201
3, f
rom
bei
ng s
ubje
ct to
th
at m
arke
t-ba
sed
com
plia
nce
mec
hani
sm th
roug
h D
ecem
ber
31, 2
020.
Ass
embl
yP
rint
Opp
ose
T
his
bill
wou
ld p
ostp
one
the
effe
ctiv
e da
te o
f th
e ex
tens
ion
of C
ap a
nd T
rade
em
issi
on r
egul
atio
ns f
rom
201
5 to
202
0 fo
r th
e tr
ansp
orta
tion
fuel
s sy
stem
. T
he a
utho
r is
con
cern
ed th
at th
e pu
blic
w
ill b
e su
bjec
t to
a sp
ike
in f
uel p
rice
s.
How
ever
, the
eff
ect o
f th
e de
ferr
ed w
ill
be to
red
uce
Cap
and
Tra
de a
uctio
n re
venu
es.
AB
28
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Chu
D
(Dis
t 25)
Bic
ycle
saf
ety:
rea
r lig
hts.
C
urre
nt la
w r
equi
res
that
a b
icyc
le o
pera
ted
duri
ng d
arkn
ess
upon
a
high
way
, a s
idew
alk
whe
re b
icyc
le o
pera
tion
is n
ot p
rohi
bite
d by
the
loca
l ju
risdi
ctio
n, o
r a
bike
way
, as
defin
ed, b
e eq
uipp
ed w
ith a
red
ref
lect
or o
n th
e re
ar th
at is
vis
ible
fro
m a
dis
tanc
e of
500
fee
t to
the
rear
whe
n di
rect
ly in
fro
nt o
f la
wfu
l upp
er b
eam
s of
hea
dlam
ps o
n a
mot
or v
ehic
le.
Thi
s bi
ll w
ould
inst
ead
requ
ire
that
a b
icyc
le o
pera
ted
unde
r th
ose
circ
umst
ance
s be
equ
ippe
d w
ith a
whi
te f
lash
ing
light
on
the
rear
that
is
visi
ble
from
a d
ista
nce
of 5
00 f
eet t
o th
e re
ar w
hen
dire
ctly
in f
ront
of
law
ful u
pper
bea
ms
of h
eadl
amps
on
a m
otor
veh
icle
, or,
in li
eu o
f th
e w
hite
fla
shin
g lig
ht, r
efle
ctiv
e ge
ar w
orn
by th
e bi
cycl
ist.
Ass
embl
yP
rint
Wat
ch
Thi
s is
a n
ew a
ppro
ach
to b
ike
safe
ty
that
wou
ld r
equi
re r
efle
ctiv
e cl
othi
ng o
r fla
shin
g lig
hts
in li
eu o
f re
flect
ive
light
s.
138
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San
Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
Janu
ary
2015
M
:\Fi
nanc
e\20
15\M
emos
\01
Jan\
SFC
TA M
atri
x.do
cx
Page
3 o
f 5
Bill
#
Aut
hor
Des
crip
tion
St
atus
Pos
itio
nC
omm
ents
AB
40
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Tin
g D
(D
ist 1
9)
Gol
den
Gat
e B
ridg
e: s
idew
alk
fees
. C
urre
nt la
w e
stab
lishe
s br
idge
and
hig
hway
dis
tric
ts a
nd v
ario
us r
egio
nal
tran
spor
tatio
n au
thor
ities
and
tran
sit d
istr
icts
, inc
ludi
ng th
e G
olde
n G
ate
Brid
ge, H
ighw
ay a
nd T
rans
port
atio
n D
istr
ict,
and
pres
crib
es th
e po
wer
s an
d du
ties
of th
e di
stri
ct, i
nclu
ding
the
pow
er to
fix
and
col
lect
all
tolls
fo
r th
e us
e of
the
dist
rict
’s p
rope
rty.
Thi
s bi
ll w
ould
pro
hibi
t the
dis
tric
t fr
om f
ixin
g or
col
lect
ing
any
tolls
or
acce
ss f
ees
for
pede
stri
an a
nd
bicy
clis
t use
of
the
Gol
den
Gat
e B
ridg
e si
dew
alks
.
Ass
embl
yP
rint
Wat
ch
Thi
s m
easu
re w
ould
pro
hibi
t the
G
olde
n G
ate
Brid
ge, H
ighw
ay, a
nd
Tra
nspo
rtat
ion
Dis
tric
t fro
m im
posi
ng
tolls
or
fees
on
pede
stri
an o
r bi
cycl
ists
fo
r us
e of
the
brid
ge s
idew
alks
.
SB 1
In
trod
uced
: 12
/1/2
014
htm
l
Gai
nes
R
(Dis
t 1)
Cal
ifor
nia
Glo
bal W
arm
ing
Solu
tion
s A
ct o
f 200
6: m
arke
t-ba
sed
com
plia
nce
mec
hani
sms:
exe
mpt
ion.
T
he C
alifo
rnia
Glo
bal W
arm
ing
Solu
tions
Act
of
2006
aut
hori
zes
the
Stat
e A
ir R
esou
rces
Boa
rd to
incl
ude
the
use
of m
arke
t-ba
sed
com
plia
nce
mec
hani
sms.
Cur
rent
sta
te b
oard
reg
ulat
ions
req
uire
spe
cifie
d en
titie
s to
co
mpl
y w
ith a
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 20
13, a
nd r
equi
re a
dditi
onal
spe
cifie
d en
titie
s to
com
ply
with
that
m
arke
t-ba
sed
com
plia
nce
mec
hani
sm b
egin
ning
Jan
uary
1, 2
015.
Thi
s bi
ll in
stea
d w
ould
exe
mpt
cat
egor
ies
of p
erso
ns o
r en
titie
s th
at d
id n
ot h
ave
a co
mpl
ianc
e ob
ligat
ion,
as
defin
ed, u
nder
a m
arke
t-ba
sed
com
plia
nce
mec
hani
sm b
egin
ning
Jan
uary
1, 2
013,
fro
m b
eing
sub
ject
to th
at m
arke
t-ba
sed
com
plia
nce
mec
hani
sm.
Sena
te
Pri
nt
Opp
ose
T
his
bill
wou
ld e
limin
ate
the
exte
nsio
n of
Cap
and
Tra
de e
mis
sion
reg
ulat
ions
sc
hedu
led
for
the
tran
spor
tatio
n fu
els
syst
em.
Diff
ers
from
AB
23
as th
is b
ill
perm
anen
tly p
rohi
bits
the
Cap
and
T
rade
reg
ulat
ions
fro
m a
ffec
ting
the
fuel
s se
ctor
.
SB 5
In
trod
uced
: 12
/1/2
014
htm
l
Vid
ak R
(D
ist 1
4)
Cal
ifor
nia
Glo
bal W
arm
ing
Solu
tion
s A
ct o
f 200
6: m
arke
t-ba
sed
com
plia
nce
mec
hani
sms:
exe
mpt
ion.
U
nder
the
Cal
iforn
ia G
loba
l War
min
g So
lutio
ns A
ct o
f 20
06, c
urre
nt
Stat
e A
ir R
esou
rces
Boa
rd r
egul
atio
ns r
equi
re s
peci
fied
entit
ies
to c
ompl
y w
ith a
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 201
3,
and
requ
ire a
dditi
onal
spe
cifie
d en
titie
s to
com
ply
with
that
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 201
5. T
his
bill
inst
ead
wou
ld e
xem
pt c
ateg
orie
s of
per
sons
or
entit
ies
that
did
not
hav
e a
com
plia
nce
oblig
atio
n, a
s de
fined
, und
er a
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
beg
inni
ng J
anua
ry 1
, 201
3, f
rom
bei
ng s
ubje
ct to
that
mar
ket-
base
d co
mpl
ianc
e m
echa
nism
thro
ugh
Dec
embe
r 31
, 202
0.
Sena
te
Pri
nt
Opp
ose
T
his
bill
wou
ld p
ostp
one
the
effe
ctiv
e da
te o
f th
e ex
tens
ion
of C
ap a
nd T
rade
em
issi
on r
egul
atio
ns f
rom
201
5 to
202
0 fo
r th
e tr
ansp
orta
tion
fuel
s sy
stem
. T
he a
utho
r is
con
cern
ed th
at th
e pu
blic
w
ill b
e su
bjec
t to
a sp
ike
in f
uel p
rice
s.
How
ever
, the
eff
ect o
f th
e de
ferr
ed w
ill
be to
red
uce
Cap
and
Tra
de a
uctio
n re
venu
es.
139
![Page 140: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/140.jpg)
San
Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
Janu
ary
2015
M
:\Fi
nanc
e\20
15\M
emos
\01
Jan\
SFC
TA M
atri
x.do
cx
Page
4 o
f 5
Bill
#
Aut
hor
Des
crip
tion
St
atus
Pos
itio
nC
omm
ents
SB 8
In
trod
uced
: 12
/1/2
014
htm
l
Her
tzbe
rg D
(D
ist 1
8)
Tax
atio
n.
Wou
ld s
tate
legi
slat
ive
findi
ngs
rega
rdin
g th
e U
pwar
d M
obili
ty A
ct, k
ey
prov
isio
ns o
f w
hich
wou
ld e
xpan
d th
e ap
plic
atio
n of
the
Sale
s an
d U
se
Tax
law
by
impo
sing
a ta
x on
spe
cifie
d se
rvic
es, w
ould
enh
ance
the
stat
e’s
busi
ness
clim
ate
and
wou
ld in
cent
iviz
e en
trep
rene
ursh
ip a
nd
busi
ness
cre
atio
n by
eva
luat
ing
the
Cor
pora
te T
ax L
aw, a
nd w
ould
ex
amin
e th
e im
pact
s of
a lo
wer
and
sim
pler
Per
sona
l Inc
ome
Tax
Law
.
Sena
te
Pri
nt
Wat
ch
Alth
ough
a s
pot b
ill, t
his
is th
e au
thor
’s
atte
mpt
to c
hang
e th
e em
phas
is o
f C
alifo
rnia
’s ta
xatio
n sy
stem
to
inco
rpor
ate
taxe
s on
ser
vice
s.
SB 9
In
trod
uced
: 12
/1/2
014
htm
l
Bea
ll D
(D
ist 1
5)
Gre
enho
use
Gas
Red
ucti
on F
und:
Tra
nsit
and
Int
erci
ty R
ail
Cap
ital
Pro
gram
. W
ould
, und
er th
e G
reen
hous
e G
as R
educ
tion
Fun
d, m
odify
the
purp
ose
of th
e pr
ogra
m to
del
ete
refe
renc
es to
ope
ratio
nal i
nves
tmen
ts a
nd
inst
ead
prov
ide
for
the
fund
ing
of la
rge,
tran
sfor
mat
ive
capi
tal
impr
ovem
ents
with
a to
tal c
ost e
xcee
ding
$10
0,00
0,00
0. T
he b
ill w
ould
re
quire
the
Tra
nspo
rtat
ion
Age
ncy,
in p
rior
itizi
ng a
nd s
elec
ting
proj
ects
fo
r fu
ndin
g, to
con
side
r th
e ex
tent
to w
hich
a p
roje
ct r
educ
es g
reen
hous
e ga
s em
issi
ons,
and
wou
ld a
dd a
dditi
onal
fac
tors
to b
e co
nsid
ered
in
eval
uatin
g ap
plic
atio
ns f
or f
undi
ng. T
his
bill
cont
ains
oth
er e
xist
ing
law
s. Se
nate
P
rint
Wat
ch
Thi
s bi
ll w
ould
alte
r th
e fo
cus
for
Rai
l an
d T
rans
it C
ap a
nd T
rade
fun
ds to
onl
y ad
dres
s la
rge-
scal
e tr
ansi
t pro
ject
s th
at
prom
ote
a di
rect
con
nect
ion
to th
e st
ate’
s H
igh-
Spee
d R
ail S
yste
m.
Gui
delin
es f
or e
xpen
ding
the
first
$25
m
illio
n in
the
Rai
l and
Tra
nsit
cap
and
trad
e fu
ndin
g ca
tego
ry w
ill b
e fin
aliz
ed
soon
; thi
s w
ill b
e fo
llow
ed b
y a
com
petit
ive
call
for
proj
ects
by
the
Stat
e T
rans
port
atio
n A
genc
y (C
alST
A).
SB
16
Intr
oduc
ed:
12/1
/201
4 pd
f h
tml
Bea
ll D
(D
ist 1
5)
Dep
artm
ent
of T
rans
port
atio
n (C
altr
ans)
. C
urre
nt la
w p
rovi
des
that
the
Cal
tran
s ha
s fu
ll po
sses
sion
and
con
trol
of
the
stat
e hi
ghw
ay s
yste
m. T
his
bill
wou
ld s
tate
the
inte
nt o
f th
e L
egis
latu
re th
at th
e de
part
men
t ide
ntify
sav
ings
fro
m im
plem
entin
g ef
ficie
ncie
s in
its
curr
ent p
rogr
ams
and
dire
ct th
ose
reso
urce
s in
to
expa
nded
act
iviti
es f
or r
oad
repa
ir an
d lit
ter
clea
nup.
Sena
te
Pri
nt
Wat
ch
The
aut
hor
is s
eeki
ng to
com
pel
Cal
tran
s to
ado
pt m
ore
prog
ram
ef
ficie
ncie
s an
d th
en d
irect
the
resu
lting
sa
ving
s in
to r
oad
repa
ir a
nd li
tter
co
ntro
l.
140
![Page 141: 01 Jan 13 FC pg · and Strategic H provides capa the Neighbor orts. The estab enlist the ser are seeking a Arup North ices Inc. and 1,736,000, for ify contract E COMM ting No nuary](https://reader033.fdocuments.in/reader033/viewer/2022051909/5ffe2d6ea7cd355ff17b95e3/html5/thumbnails/141.jpg)
San
Fra
ncis
co C
ount
y T
rans
port
atio
n A
utho
rity
Janu
ary
2015
M
:\Fi
nanc
e\20
15\M
emos
\01
Jan\
SFC
TA M
atri
x.do
cx
Page
5 o
f 5
Bill
#
Aut
hor
Des
crip
tion
St
atus
Pos
itio
nC
omm
ents
SB 3
9 In
trod
uced
: 12
/1/2
014
htm
l
Pav
ley
D
(Dis
t 27)
Veh
icle
s: h
igh-
occu
panc
y ve
hicl
e la
nes.
C
urre
nt f
eder
al la
w, u
ntil
Sept
embe
r 30
, 201
7, a
utho
rize
s a
stat
e to
allo
w
spec
ified
labe
led
vehi
cles
to u
se la
nes
desi
gnat
ed f
or h
igh-
occu
panc
y ve
hicl
es (H
OV
s). T
his
bill
wou
ld in
crea
se th
e nu
mbe
r of
thos
e id
entif
iers
th
at th
e D
MV
is a
utho
rize
d to
issu
e to
an
unsp
ecifi
ed a
mou
nt. T
his
bill
cont
ains
oth
er r
elat
ed p
rovi
sion
s an
d ot
her
curr
ent l
aws.
Sena
te
Pri
nt
Opp
ose
T
he b
ill w
ould
exp
and
the
amou
nt o
f H
OV
lane
acc
ess
deca
ls f
or c
lean
ve
hicl
es. 2
014
saw
the
num
ber
of d
ecal
s pe
rmitt
ed, i
ncre
ase
from
40,
000
to
70,0
00.
Whi
le w
e ar
e su
ppor
tive
of c
lean
ve
hicl
es, t
his
bill
has
the
pote
ntia
l to
add
thou
sand
s of
mor
e si
ngle
occ
upan
cy
vehi
cles
to B
ay A
rea
HO
V la
nes,
man
y of
whi
ch a
re a
lread
y ne
ar o
r at
cap
acity
. W
e w
ould
wel
com
e an
am
endm
ent t
o gi
ve lo
cal j
uris
dict
ions
con
trol
ove
r w
heth
er o
r no
t to
allo
w c
lean
veh
icle
s in
H
OV
lane
s.
SB 5
9 In
trod
uced
: 12
/19/
2014
pd
f h
tml
Kni
ght R
(D
ist 2
1)
Veh
icle
s: h
igh-
occu
panc
y ve
hicl
e la
nes.
T
he b
ill m
akes
tech
nica
l cha
nges
to e
xist
ing
law
whi
ch a
utho
rize
s lo
cal
auth
oriti
es a
nd th
e D
epar
tmen
t of
Tra
nspo
rtat
ion
to e
stab
lish
excl
usiv
e or
pre
fere
ntia
l use
of
high
way
lane
s fo
r hi
gh-o
ccup
ancy
veh
icle
s.
Sena
te
Pri
nt
New
–
Wat
ch
Thi
s is
a s
pot b
ill th
at a
ddre
sses
the
basi
c au
thor
ity f
or d
esig
natio
n of
HO
V
Lan
es.
Not
e: T
he a
utho
r w
ill v
acat
e hi
s Se
nate
se
at w
hen
he a
ssum
es h
is n
ew
cong
ress
iona
l sea
t thi
s w
eek.
Tot
al M
easu
res:
14
141