| San Francisco County Transportation Authority - July 12, 2005 |
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AGENDA SAN FRANCISCO COUNTY TRANSPORTATION AUTHORITYSpecial Meeting Notice Date: 11:30 a.m., Tuesday, July 12, 2005 1. Roll Call Item for Direct Board Consideration 2. Authorizing the Amendment of the credit agreement relating to the Authority's Commercial Paper notes, and the Taking of all other actions necessary in connection with such notes– ACTION* (attachment 1) On March 30, 2004 , the Authority Board adopted Resolution No. 04-44 approving the Authority's $200M commercial paper program, which included a credit support facility provided by Landesbank Baden-Württemberg (LBBW). This required facility is in the form of a revolving line of credit at 14 basis points per annum, with a term not to exceed five (5) years. As a German state-owned institution, LBBW has historically received government support, which has allowed it to offer better rates. Pursuant to a European Union agreement, this government support will cease for all German state-owned banking institutions on July 18, 2005 . LBBW has offered the Authority the opportunity to extend the existing credit facility under the current favorable terms, along with a grandfathered State guarantee, until December 29, 2015 . After consulting with its commercial paper dealers, financial advisors, general and bond counsel, we determined it would be advantageous to amend the credit agreement with LBBW. This is only an extension of the life of the credit agreement to December 29, 2015 . We are not seeking to expand the commercial paper program beyond its currently authorized $200M. We are seeking the authorization of the amendment of the credit agreement relating to the Authority's commercial paper notes, and the taking of all other actions necessary in connection with such notes. 3. Adjournment Please note that the meeting proceedings can be viewed live at http://www.sfgov.org/sfgtv or that evening at 6:00 pm on Cable Channel 26 in San Francisco, with a repeat on the weekend (either Saturday or Sunday evening). To know the exact cablecast times for weekend viewing, please call SFGTV at (415) 557-4293 on Friday when the cablecast times have been determined. In order to assist the City's efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at all public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals. To obtain a disability-related modification or accommodation, including auxiliary aids or services, to participate in the meeting, please contact Pooja Jhunjhunwala at 415.522.4800 at least two business days before the meeting. Lobbyist Registration and Reporting Requirements: 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 S.F. Ethics Commission at 30 Van Ness Ave., Suite 3900, San Francisco, CA 94102, telephone (415) 581-2300; or website www.sfgov.org/ethics. |
