HomeMy Public PortalAbout09 September 4, 1991 Budget & Finance"
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0 5 3 7 6 4
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
B U D G E T & F I N A N C E C O M M I T T E E
( C O M M I S S I O N E R S C O R K Y L A R S O N , R U S S B E I R I C H , P A T M U R P H Y )
W E D N E S D A Y , S E P T E M B E R 4 , 1 9 9 1
1 1 : 3 0 A . M .
4 6 - 2 0 9 O A S I S S T R E E T . R M . 4 1 4
I N D I O . C A 9 2 2 0 1
A G E N D A
1 . C A L L T O O R D E R .
2 . C O N T R A C T U A L S T A T U S A N D C O M M I T T E M E N T R E P O R T S .
S t a f f R e c o m m e n d a t i o n
R e c e i v e a n d f i l e .
3 . R C T C C O M P R E H E N S I V E G E N E R A L L I A B I L I T Y I N S U R A N C E P R O G R A M .
S t a f f R e c o m m e n d a t i o n
I n c l u d e i n o u r e x i s t i n g c o v e r a g e s a l l t h o s e c h a n g e s w h i c h w o u l d r e q u i r e n o a d d i t i o n a l c o s t s t o
t h e C o m m i s s i o n . A l l o t h e r i t e m s h o l d f o r d i s c u s s i o n a n d a c t i o n a t t h e O c t o b e r m e e t i n g .
4 . C O N S U L T A N T S E L E C T I O N F O R T H E P E R F O R M A N C E A U D I T O F T H E R I V E R S I D E C O U N T Y
T R A N S P O R T A T I O N C O M M I S S I O N A N D R I V E R S I D E C O U N T Y T R A N S I T O P E R A T O R S .
S t a f f R e c o m m e n d a t i o n
C o m m i s s i o n a p p r o v a l t o n e g o t i a t e a c o n t r a c t w i t h B o o z - A l l e n 8 H a m i l t o n t o c o n d u c t t h e F Y 1 9 9 1 -
9 2 C o m m i s s i o n a n d T r a n s i t O p e r a t o r P e r f o r m a n c e A u d i t s .
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5 . S E L F - H E L P C O U N T I E S C O A L I T I O N C L E R I C A L S U P P O R T F U N D I N G
R E Q U E S T .
S t a f f R e c o m m e n d a t i o n
A p p r o v e a c o n t r i b u t i o n o f u p t o $ 2 , 5 0 0 a s t h e R i v e r s i d e C o u n t y s h a r e o f f u n d i n g c l e r i c a l s u p p o r t
f o r t h e S e l f H e l p C o u n t i e s C o a l i t i o n .
6 . U P D A T E F R O M F I N A N C I A L A D V I S O R .
S t a f f R e c o m m e n d a t i o n
R e c e i v e a n d f i l e .
7 . C O M M E R C I A L P A P E R D O C U M E N T A T I O N .
S t a f f R e c o m m e n d a t i o n
A p p r o v e t h e r e s o l u t i o n a n d r e l a t e d d o c u m e n t s s u b j e c t t o t h e E x e c u t i v e D i r e c t o r a p p r o v i n g a n y
m i n o r w o r d c h a n g e s a n d f i n a l f e e s t r u c t u r e s .
8 . M E A S U R E A P A R K - N - R I D E P R O G R A M .
S t a f f R e c o m m e n d a t i o n
T h a t t h e C o m m i s s i o n a p p r o v e , s u b j e c t t o r e v i e w b y L e g a l C o u n s e l , a m e n d m e n t o f t h e e x i s t i n g
c o n t r a c t s f o r s e r v i c e s w i t h I n l a n d T r a n s p o r t a t i o n S e r v i c e s a n d S t e v e n s / G a r l a n d A s s o c i a t e s , I n c .
f o r t h e p e r i o d f r o m A u g u s t 1 5 , 1 9 9 1 t o A u g u s t 1 5 , 1 9 9 2 a t a n h o u r l y r a t e n o t t o e x c e e d
$ 6 5 . 0 0 / h o u r .
9 . T R A N S I T I N T E G R A T I O N P L A N F O R T H E U N I O N P A C I F I C C O M M U T E R R A I L
S E R V I C E . ,
T o b e p r e s e n t e d a t t h e S e p t e m b e r 1 1 , 1 9 9 1 R C T C m e e t i n g .
1 0 . A D D I T I O N A L C O N T R A C T R E V I S I O N F O R M O R R I S O N - K N U D S E N F O R A T S F
R A I L N E G O T I A T I O N S .
S t a f f R e c o m m e n d a t i o n
T h a t t h e C o m m i s s i o n : ( 1 ) a u t h o r i z e t h e E x e c u t i v e D i r e c t o r t o e x e c u t e t h e c o n t r a c t a m e n d m e n t
i n t h e a m o u n t o f $ 4 2 , 0 0 0 ; a n d ( 2 ) W o r k w i t h o t h e r p a r t i c i p a n t s o f t h e J o i n t O f f e r C o m m i t t e e t o
s e e k r e i m b u r s e m e n t o f a p p r o p r i a t e c o s t s ; O C T A a n d R C T C m a y a r r a n g e f o r o f f s e t s a s d e s c r i b e d
i n t h e s t a f f m e m o r a n d u m .
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P a g e 3
A u g u s t 1 , 1 9 9 1
A d m i n i s t r a t i v e C o m m i t t e e M e e t i n g
1 1 . F Y 1 9 9 2 - 9 3 T R A N S I T C A P I T A L I M P R O V E M E N T P R O G R A M P R O J E C T
A P P L I C A T I O N .
S t a f f R e c o m m e n d a t i o n
A u t h o r i z e s t a f f t o p r o c e e d i n d e v e l o p i n g a n d s u b m i t t i n g a n F Y 1 9 9 2 - 3 T C I a p p l i c a t i o n f o r l a n d
a c q u i s i t i o n , e n g i n e e r i n g , d e s i g n a n d c o n s t r u c t i o n o f s t a t i o n s f o r t h e c o m m u t e r r a i l s e r v i c e t o b e
r u n o n t h e U n i o n P a c i f i c l i n e . A d d i t i o n a l l y , a u t h o r i z e a c o m m i t m e n t o f M e a s u r e " A " f u n d s t o m e e t
T C I p r o g r a m m a t c h i n g r e q u i r e m e n t s .
1 2 . J P A C O M M U T E R R A I L B U D G E T .
S t a f f R e c o m m e n d a t i o n
A p p r o v e t h e J P A R a i l b u d g e t i n i t s e n t i r e t y f o r a t o t a l a m o u n t n o t t o e x c e e d 5 , 5 1 8 , 6 0 0 a n d t h e
p r i o r y e a r c o s t s f o r a t o t a l o f a p p r o x i m a t e l y $ 3 5 , 5 1 0 .
1 3 . A D J O U R N M E N T .
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A G E N D A I T E M # 2
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
S e p t e m b e r 4 , 1 9 9 1
T O : B u d g e t a n d F i n a n c e C o m m i t t e e
F R O M : M a r k M a s s m a n , M e a s u r e A P r o j e c t M a n a g e r
L o u i s M a r t i n , P r o j e c t C o n t r o l s M a n a g e r
T H R O U G H : J a c k R e a g a n , E x e c u t i v e D i r e c t o r
S U B J E C T : C o n t r a c t u a l S t a t u s a n d C o m m i t m e n t R e p o r t s
T h e a t t a c h e d m a t e r i a l d e p i c t s t h e c u r r e n t s t a t u s o f c o n t r a c t s , c o m m i t m e n t s a n d
C o o p e r a t i v e A g r e e m e n t s e x e c u t e d b y t h e C o m m i s s i o n . F o r e a c h c o n t r a c t a n d
A g r e e m e n t , t h e r e p o r t s l i s t t h e a u t h o r i z e d v a l u e a p p r o v e d b y t h e C o m m i s s i o n ,
p e r c e n t a g e o f c o n t r a c t a m o u n t e x p e n d e d t o d a t e a n d t h e p e r c e n t a g e o f D i s a d v a n t a g e d
B u s i n e s s E n t e r p r i s e p a r t i c i p a t i o n .
D e t a i l e d s u p p o r t i n g m a t e r i a l f o r a l l c o n t r a c t s a n d C o o p e r a t i v e A g r e e m e n t s i s a v a i l a b l e
f r o m B e c h t e l s t a f f .
S T A F F R E C O M M E N D A T I O N :
R e c e i v e a n d f i l e .
L M : s c
a t t a c h m e n t
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P A G E N O .
0 8 / 2 9 / 9 1
C O N T R A C T N O . /
A M E N D M E N T 0 /
C O N S U L T A N T
I N P R E S T - 0
S E C U R I T Y P A C I F I C
R 0 8 8 0 1 - 2
R C T C / O C T C M O U
( E n v i r o n m e n t a l S t u d i e s )
R 0 8 9 0 0 " 0
B e c h t e l C o r p o r a t i o n
R 0 8 9 0 1 " 2
P a r s o n s B r i n k e r h o f f ,
W a d e a n d D o u g l a s , I n c .
R 0 8 9 0 2 - 1
P a r s o n s , B r i n k e r h o f f ,
W a d e a n d D o u g l a s , I n c .
R 0 8 9 0 5 " 2
S c h i e r m e y e r C o n s u l t i n g
S e r v i c e s
R 0 8 9 0 7 - 0
R o u t e 8 6 C o o p e r a t i v e
A g r e e m e n t
R E P O R T N P R O O 1
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
C O N T R A C T S T A T U S R E P O R T
( A l l D o l l a r s X S 1 0 0 0 )
C U R R E N T E X P E N D E D P E R C E N T T O T A L D B E A S %
S T A R T C O M P L E T I O N A U T H O R I Z E D A G A I N S T C O N T R A C T P A I D O F A C T U A L
S C O P E / D E S C R I P T I O N G A T E D A T E C O N T R A C T V A L U E C O N T R A C T E X P E N D E D T O D B E ' S E X P E N D E D
S E T I N P R E S T F U N D / A C C O U N T 0 1 / 1 0 / 9 1 0 6 / 3 0 / 9 1 5 . 0 0
E n v i r o n m e n t a l S t u d i e s 1 2 / 0 2 / 8 8 0 8 / 3 0 / 9 0 7 9 . 5 3
w i t h t h e K e i t h c o m p a n i e s
P r o j e c t M a n a g e m e n t
0 2 / 1 5 / 8 9 0 6 / 3 0 / 8 9 1 7 0 . 0 0
R t . 9 1 C o n c e p t u a l D e s i g n 1 2 / 0 2 / 8 8 0 4 / 3 0 / 9 1 2 , 2 3 4 . 2 8
S e r v i c e s
R t . 9 1 F i n a l d e s i g n - 0 4 / 0 7 / 8 9 0 8 / 2 8 / 9 0 6 7 6 . 5 0
c o n v e r t e d t o a l u m p s u m
c o n t r a c t
C o m m u t e r R a i l s C o n s u l t i n g 0 6 / 3 0 / 8 9 0 6 / 3 0 / 9 2 3 3 6 . 0 0
S e r v i c e s
C o n s t r u c t 4 l a n e
e x p r e s s w a y a t R t . 8 6
0 6 / 1 2 / 8 9 0 6 / 3 0 / 9 4 2 1 , 0 3 5 . 4 0
R E M A R K S
4 . 5 4 9 1 % 0 . 0 0 0 %
6 5 . 0 2 8 2 % 0 . 0 0 0 % P R O J E C T C O M P L E T E
1 7 0 . 0 0 1 0 0 % 0 . 0 0 0 % T H I S C O N T R A C T I S C L O S E D
2 , 0 4 0 . 8 0 9 1 % 1 , 2 0 4 . 9 6 5 9 % P R O J E C T C O M P L E T E
6 8 6 . 6 4 1 0 1 %
1 8 0 . 6 0 5 4 %
0 . 0 0 0 % C o n v e r t e d t o a l u m p s u m c o n t r a c t . A p p r o v e d
b y R C T C o n 5 / 9 / 9 0 .
P R O J E C T C O M P L E T E
0 . 0 0 0 %
1 , 2 1 0 . 1 1 6 % 0 . 0 0 0 % C o n t r a c t v a l u e i s R C T C p o r t i o n o n l y a n d d o e s
n o t i n c l u d e a d m i n i s t r a t i o n c o s t f o r C a l t r a n s
PAGE NO. Z
08/29/9i
CONTRACT N0./
AMENDMENT 0/
CONSULTANT
R08908 - 1
City of Corona
R09000 • 2
Bechtel Corporation
R09001 - 5
NBS/Lowry
R09002 • 5
KAMes and Associates
R09003 • 0
J.f. Davidson Associates
R09004 - 0
Caltrans
R09006 - 0
Southern California
Association of
Governments (SCAG)
REPORT MPROO1
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
CONTRACT STATUS REPORT
(All Dollars X $1000)
CURRENT EXPENDED PERCENT TOTAL DBE AS %
START COMPLETION AUTHORIZED AGAINST CONTRACT PAID 0f ACTUAL
SCOPE/DESCRIPTION DATE DATE CONTRACT VALUE CONTRACT EXPENDED TO DBE'S EXPENDED
Cooperative Agreement 07/19/89 06/30/94 14,605.00
Program Management
07/01/89 06/30/90 1,291.00
final Design Svcs for Rt 10/01/89 06/01/91 982.90
91 bet. Series Club &
Main St.
Professional and 09/14/89 09/30/91 1,499.00
Technical Design Svcs for
Rt 91
Right -of -Way Mapping for 10/10/89 10/01/90 8.50
RT 60/91/215 IC
Agreement for Rt
60/91/215 IC
07/01/89 07/01/99 20,000.00
Planning and Support 07/01/89 06/30/92 105.00
REMARKS
4,658.41 32% 0.00 0% The indicated cost is an estimate for design
construction and construction management.
RCTC's share is 67% of total cost.
1,059.10 82%
982.88 100%
1,307.85 87%
8.50 100%
1,500.00 8%
11.35 11%
44.16 4% This contract is closed.
112.44 11% Scope was amended to include geotechnical
services for soundwalls (total cost
$6046.00) to be covered by extra work funds
so total authorized contract value remains
the same.
139.32 11% Include extra work authorization for hest
Prado Overhead Seismic Analysis.
0.00 0% This contract is closed.
0.00 0% This is a capital account.
0.00 0%
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P A G E N O . 5
0 8 / 2 9 / 9 1
C O N T R A C T N 0 . /
A M E N D M E N T 0 /
C O N S U L T A N T
R 0 9 0 0 7
P S O N A S
2
R 0 9 0 0 8 - 1
N B S / L o w r y
R 0 9 0 0 9 - 0
C h i c a g o T i t l e
1 1 0 9 0 1 0
L S A
R E P O R T M P R 0 O 1
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
C O N T R A C T S T A T U S R E P O R T
( A l l D o l l a r s X $ 1 0 0 0 )
C U R R E N T E X P E N D E D P E R C E N T T O T A L D B E A S %
S T A R T C O M P L E T I O N A U T H O R I Z E D A G A I N S T C O N T R A C T P A I D O f A C T U A L
S C O P E / D E S C R I P T I O N D A T E D A T E C O N T R A C T V A L U E C O N T R A C T E X P E N D E D T O O B E ' S E X P E N D E D
S u r v e y i n g C o n t r o l 0 3 / 1 5 / 9 0 1 1 / 0 4 / 9 1 2 , 4 2 9 . 3 6
R t . 2 1 5 S u r v e y i n g W o r k 0 2 / 0 1 / 9 1 0 2 / 0 1 / 9 2 6 7 6 . 6 7
E s c r o w a n d T i t l e F e e s f o r 0 1 / 2 3 / 9 0 0 7 / 0 1 / 9 9 1 , 0 9 2 . 4 3
R O W p r o c u r e d f o r
6 0 / 9 1 / 2 1 5 I C
R E M A R K S
2 , 0 5 8 . 5 3 8 5 % 0 . 0 0 0 %
2 9 6 . 2 7 4 4 % 0 . 0 0 0 %
1 , 0 9 2 . 4 3 1 0 0 % 0 . 0 0 O %
- 1 E n v i r o n m e n t a l S t u d y ( A P A ) 0 1 / 3 1 / 9 0 1 2 / 1 2 / 9 1 1 7 6 . 6 5 1 2 0 . 2 6 6 8 % 0 . 0 0 0 %
R 0 9 0 1 1 - O C o o p e r a t i v e A g r e e m e n t 0 3 / 3 0 / 9 0 0 6 / 3 0 / 9 2 8 0 2 . 5 7 2 9 6 . 4 9 3 7 % 0 . 0 0 0 %
C o u n t y o f R i v e r s i d e ( S a n d e r s o n P r o j e c t )
R 0 9 0 1 2 " 0 R t . 7 4 - P h a s e 0 , 2 a n d 0 1 / 3 1 / 9 0 0 7 / 3 0 / 9 2 3 , 0 0 0 . 0 0 6 4 2 . 4 9 2 1 % 0 . 0 0 0 %
C i t y o f P e r r i s P h a s e 9 W o r k
P A A T r a f f i c E n g i n e e r i n g 0 2 / 0 2 / 9 0 0 9 / 3 0 / 9 1 1 , 2 9 5 . 1 0 1 , 1 0 9 . 4 7 8 6 % 0 . 0 0 0 %
C o o p e r a t i v e A g r e e m e n t f o r 0 2 / 2 0 / 9 0 0 1 / 3 1 / 9 1 6 2 . 0 0 0 . 0 0 0 % 0 . 0 0 0 %
1 - 1 5 G a l e n a P S R ( L o a n )
R 0 9 0 1 3 - 1
O K S a n d A s s o c i a t e s
R 0 9 0 1 4 " 0
C o u n t y o f R i v e r s i d e /
W i l b u r S m i t h A s s o c i a t e s
R 0 9 0 1 5 - 0
c a t h e d r a l C i t y
R t . 1 1 1 C o n s t r u c t i o n
( L o a n ) " P e r e z S t .
/ /
/ / 6 0 0 . 0 0
0 . 0 0 0 %
R e i m b u r s e m e n t t o c o u n t y f o r c o n s u l t a n t
c o n t r a c t a n d c o n t r a c t a d m i n i s t r a t i o n .
C a p i t a l p r o j e c t , a n d t h i s a m o u n t i s R C T C ' s
s h a r e o f t o t a l p r o j e c t c o s t s .
T h i s w i l l n o t b e a c o o p e r a t i v e a g r e e m e n t b u t
w i l l b e a l o a n a g r e e m e n t p e r J a c k R e a g a n .
T h e c o u n t y i s i n c h a r g e o f t h i s s t u d y .
0 . 0 0 0 % T h i s c o n t r a c t m a y b e s i g n e d a s a c o o p e r a t i v e
a g r e e m e n t o r a l o a n a r r a n g e m e n t w i t h
PAGE NO. 4 REPORT MPR001
08/29/91
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
CONTRACT STATUS REPORT
(All Dollars X S1000)
CONTRACT NO./ CURRENT EXPENDED PERCENT TOTAL DBE AS X
AMENDMENT 0/ START COMPLETION AUTHORIZED AGAINST CONTRACT PAID Of ACTUAL
CONSULTANT SCOPE/DESCRIPTION DATE DATE CONTRACT VALUE CONTRACT EXPENDED TO DBE'S EXPENDED
REMARKS
Intersection Cathedral City. Details need to be discusse
with BB&K. Negotiations are on going.
R09016 - 0 Traffic Engineering 03/05/90 06/30/90 438.35
Wilbur Smith Associates Services for Rt. 111
Corridor Study
356.76 81% 0.00 O%
R09017 • 1 Cajalco Corridor Study 03/19/90 08/15/91 361.80 354.46 98% 0.00 0%
P i 0 Technologies
R09018 - 1 Preliminary 08/17/90 / / 4,077.70 836.34 21% 0.00 0%
Parsons Brinkerhoff Qusde Engineering/Environmental
i Douglas /Traffic/for 1215
R09020 - 0 Prelimminary Project / / / / 5,800.00 0.00 0% 0.00 0%
RCTC/SANBAG (RT 215) Oevelopement Phase
R09021 • 2
MORRISON-KNUDSEN
ENGINEERS
R09100 - 1
Bechtel Corporation
R09101 - 1
GREINER, INC
PERFORM COMMUTER RAIL 03/02/90 06/30/92 671.79 667.60 99% 0.00 0%
STUDY FOR RCTC
ENGINEERING MANAGEMENT 07/01/90 06/30/91 1,701.00 1,454.27 85% 0.00 O% TOTAL AUTHORIZED VALUE INCLUDES $109,000 FOR
CALTRANS WORK TO PERFORM ENVIR. STUDIES.
ROUTE 91 PRLIMINARY 09/11/90 06/15/92 907.34 349.37 39% 0.00 0%
ENGINEERING
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PAGE NO. 1
08/29/91
CONTRACT
NUMBER
CONSULTANT FINI
REPORT COMMIT
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
COMMITMENT LOG REPORT
Sorted IN CONTRACT NUMES
SCOPE OF MORK
AMOUNT AMOUNT TOTAL
RUC COMMITTED TO COMMITTED WAMPUM
COON. SASE MORIC EXTRA MORK CONIITEO
TOTAL
AMOUNT
EXPENDED
0007PS
0007100
0007►0
0007102
0007PT1
0007►12
8008102
0000081
0000002
000981
0009811
0009►12
INIMEST
O 00801
000900
008901
000902
00890S
001907
000900
O 09000
O 09001
009002
O 09003
O 09004
1109006
Covers Several Firms/Consultants/Persons
Coves Severs' firer/Consultant/Persons
Covers Ssvoral Firms/Consultants/Persons
SRITM 8 MILER
Covers Severs' Firms/Consultants/Persons
COVERS SPECIAL TRANSIT PROJECTS AGENCIES
COVERS SEVERAL fINK/COMSMLTAN/S/PERSONS
Covers Savored Firms/Consultants/Persons
COVERS SEVERAL PERSONS S PERS
Covers Several iirer/Coisultents/Porsons
Covers Severe' Firm7Casultanss/Parsons
COVENS SEVERAL FIRMS/CONSULTANTS/PERSONS
SECURITY PACIFIC
NCTC/OCIC MOM (Environments' Studies)
*echtol Corporation
Persons *rinckerboff. Owed, and boucles. Inc.
Parsons. Brinkerhoff, amide and *emotes. Inc.
Saiorme/sr Consulting Servicos
Routs 86 Cooperative Aflraamsnt
City of Corona
Rechtol Corporation
INS/Lowry
Kees. end Associatos
J.F. Davidson Associates
Coltrane
Southorn California Association of Governments
Professional Services Common to all tasks
Profoseiensl S Spsciolited Services
Professional Servicos (legislative Advocate)
LEGISLATIVE ADVOCATE
►rofoss'enal Services • Transit Projects
SPECIALIZE* TRANSIT
INSURANCE (NC. LIFE. SNORT S LONG OISA*)
Soleris* 8 Benefits
NEALIM INSLRANCE OENEFITS
Financial Sorvices • Bond Interest
Rand Principal Repayment
PASS TMRM
SET IMPIIESI FUND/ACCOUNT
Envirorwntol Studies with the Keith companies
Project Mowemment
Rt. 91 Conceptual Design Services
Rt. 91 final design - converted to a log) sum contract
Commuter Rails Consulting Services
Construct 4 lone expressway st Rt. 86
Cooperative Agreement
Program Monogmment
Final Design Svcs for Rt 91 bet. Series Club S Nein St.
Professional and Technical Design Svcs for Rt 91
Right -of -Way Mapping for RI 60/91/215 IC
Agroewent for It 60/91/21S IC
(SLAG) Planning and Support
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/ r O f t S O I O S ' 6 0 t 9 1 t 0 0 . 9 0 0 6 ,
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1 6 1 1 S 3 0 N V 0 3 1 1 0 1 1 1 ! 0 1 S 0 3 ' a t o m i s m 1 N 3 N 3 3 1 9 V 1 0 . 0 3
S I . 1 0 1 1 L 1 1 V ! 1 6 1 0 9 0 1 0 3 3 0 1 9 M 3 1 l 0 1 1 1
m o m 3 0 1 5 1 ( 1 0 1 6 1 1 1 1 N 3 N S S 3 S S V 1 1 ( l N 3 M N O I l A N 3
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O t t s 1 6 1 S N O t o m s I O N S V O A S A S S 9 0 3
0 9 V S N O 0 1 1 3 1 0 1 S 1 9 0 d 3 1 1 I O U S r o v e 1 1 0 1 9 0 1 1 3 3 0 1 9 0 3
t ' 1 1 - 0 ' 0 N d N O V ! 1 6 I N 9 0 I 1 3 A I ( I S
I t 3 1 0 o 1 I D ! S 3 3 1 A 1 3 S 1 V 1 N I N N O I I A N 3
1 0 3 1 0 3 3 1 9 V 3 S V 3 1 M 1 3 0 1 1 9 r i e d
S I S A I V N V S 3 A I I V N I 3 1 1 V " A O I I I s 1 1 1 1 1 0 1 S V 3 !
1 3 0 0 N N V S A ' S I N 3 N 1 1 1 3 A 0 0 A O 3 0 S S V V 3 1 1 1 1 3 1 1 1 0 0 1 1 0 1 M I S S Y
6 1 M o e ' S 1 3 3 r o 1 4 1 O N O N O 9 1 1 1 1 1 3 3 1 1 1 9 1 1 3 3 1 A 0 1 1
V / * M o l l ( 1 1 1 1 2 N 0 o d t 1 u o N a ( A o s s 0 1 1 ( 0 1 1 0 1 1 O u 3 3 1 / 1 0 A 1
6 1 3 1 0 0 1 9 0 1 1 N 1 1 1 1 1 1 3 1 0 9 9 0 1 1 3 A I V I S
1 L M o e 9 1 1 1 0 3 0 1 9 1 e A W I N I N 1 1 3 v e
S 1 1 1 3 1 0 3 3 1 9 V 3 S V 3 1 3 0 1 1 - 1 1 - 2 I V d 3 1 V 1 1 0 0 3 0
S 0 0 1 0 1 1 0 9 3 0 3 S V 3 1 3 0 1 1 - 0 - 2 1 1 v e 3 1 V 1 1 0 0 3 0
" " " 1 4 1 1 0 1 " " "
' 3 0 1 1 1 A 1 3 . 1 3 1 0 3 3 0
' 3 N I ' S 3 S 1 0 0 3 1 0 3 0 0 0 1 1 / 3 3 1 1
( S N V 1 1 1 V 3 ) N O I 1 V I V U S N V 1 1 ! 0 1 N V A I V V d 3 0
3 0 1 5 1 3 6 1 V ! O 1 1 1 3
V N O V 0 3 ! 0 1 1 1 3
S 3 I V I 3 O S S V 9 m o w
' 3 0 1 ' S 3 1 V 1 3 0 S S V V S 1
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1 1 1 0 M Z N 3
S 0 3 3 0 1 9 0 3 1 3 S I V N ! 3 1
' 3 0 1 s l N V l l ( 0 1 0 0 f i l e t
' 3 6 1 9 1 1 1 A 3 A N I S I S V 0 3
' 3 1 1 1 . 3 3 0 3 1 3 S 9 0 1 1 3 3 0 1 9 0 3
I N N 1 0 N I A ' 3 0 1 V N 0 0 / 1 1 1 S 1 3 A I N I 1 V O N I 1 V 1 0 1
A w n 1 1 0 0 1 1 1 1 1 0 3 ' S N V V l " M i l o s / e l m S 3 1 9 0 1 0 1 1 0 3 3 1 0 9 d
S 3 1 V 1 3 0 S S V 9 N e " o r
' 3 N 1 ' 9 0 1 1 3 3 0 1 9 0 3 3 A 1 0 1
' d o f f O u 1 A v s u ( o u 3 A m p %
S 3 1 V I 3 0 S S V f i l l 1 1 0 1 ! M e l i l l o ' o l e o 1 1 3 0 0 1
1 1 V N 1 1 3 0 N 3 N 9 N o 1 N 1 1 0 r ' N N W ' 1 3 1 1 1 V o
' 3 0 1 ' S 3 1 V I 3 0 S S V O N V 1 1 V 9 / S 0 3 6 3 1 s
S 3 3 1 A 1 3 S 0 0 I I V M U S N V 1 1 a l e l N t
0 0 2 6 0 1 1
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� i 1 6 0 1 1
Z i 1 6 o e
l � 1 6 0 1
o t t 6 o l
6 Z 1 6 0 1
1 2 t 6 o I
9 3 1 6 0 1 1
S 2 1 6 0 1
1 Z 1 6 0 1
t 2 1 6 0 1
2 2 1 6 0 0
1 Z t 6 0 1
0 3 1 6 0 1 1
6 1 1 6 0 1
0 1 1 6 0 I
M O M
9 1 1 6 0 /
f 1 1 6 0 1
t 1 1 6 0 1
t 1 1 6 0 I
0 3 0 1 1 3 0 3
m o o r
' m o t
0 3 1 1 1 1 0 3 I R O N V 1 1 2 3 M O N 3 S V o ' 0 1 0 0 0
1 M I I a m 0 1 0 3 1 1 1 N N O 3 0 1 0 3 1 1 1 N N O 0 3 1 3 0
1 V 1 0 1 1 N ( 0 M e 1 N A O N V
7 0 0 0 ! O 3 d 0 3 S
I 3 1 M 1 1 1 1 3 V I 1 N O 3 4 . 0 I w l o o t
1 1 0 d 3 1 9 0 1 1 0 3 N l 1 1 N N 3
N O I S S I N N 0 3 N O I 1 V 1 1 0 d S N V V I A 1 N ( 0 3 3 0 1 S 1 3 A 1 1
1 1 1 0 1 0 3 1 1 0 d 3 1
N V I ! 1 N V 1 1 ( I s N O 3
1 3 0 / I I
1 3 V I 1 N O 3
W 6 2 4 0
' O N 3 9 1 ( d
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A G E N D A I T E M # 3
"
j �� f
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t a n d F i n a n c e C o m m i t t e e
F R O M : D e a n M a r t i n , C o n t r o l l e r
H i d e o S u g i t a , A s s i s t a n t D i r e c t o r o f P l a n n i n g a n d P r o g r a m m i n g
S U B J E C T : R C T C C o m p r e h e n s i v e G e n e r a l L i a b i l i t y I n s u r a n c e P r o g r a m .
A t t h e l a s t C o m m i s s i o n m e e t i n g , a s t u d y p e r f o r m e d b y A d v a n c e d R i s k M a n a g e m e n t
T e c h n i q u e s ( A r m t e c h ) w a s p r e s e n t e d t o t h e C o m m i s s i o n a s a r e c e i v e a n d f i l e i t e m . T h a t
r e p o r t c o n t a i n e d a n u m b e r o f r e c o m m e n d a t i o n s t o e x p a n d t h e c u r r e n t i n s u r a n c e
c o v e r a g e p u r c h a s e d b y t h e C o m m i s s i o n . T h e r e p o r t o u t l i n e s s e v e r a l a r e a s i n w h i c h t h e
C o m m i s s i o n f a c e s p o t e n t i a l e x p o s u r e f o r w h i c h t h e r e i s e i t h e r n o i n s u r a n c e o r i n a d e q u a t e
l e v e l s o f i n s u r a n c e .
I n c l u d e d i n t h e r e c o m m e n d a t i o n s a n d s u g g e s t i o n s w e r e t h e f o l l o w i n g :
o C o n s o l i d a t i o n o f a l l c o v e r a g e i n t o a s i n g l e p a c k a g e p o l i c y .
T h i s r e c o m m e n d a t i o n w o u l d r e d u c e c o s t s a n d e l i m i n a t e p o t e n t i a l c o v e r a g e
o v e r l a p s .
o A d d R C T C o f f i c i a l s t o t h e e x i s t i n g e r r o r s a n d o m i s s i o n s p o l i c y i n p l a c e f o r
S A F E .
o S e e k u m b r e l l a l i a b i l i t y c o v e r a g e o f a t l e a s t $ 5 m i l l i o n .
o A d d t h e f o l l o w i n g p o l i c y c o v e r a g e c u r r e n t l y n o t p u r c h a s e d b y t h e
C o m m i s s i o n :
* E m p l o y e e d i s h o n e s t y a n d d e p o s i t o r s f o r g e r y c o v e r a g e .
* N o n - o w n e d a i r c r a f t l i a b i l i t y .
* E a r t h q u a k e .
* D a t a p r o c e s s i n g c o v e r a g e f o r c o m p u t e r e q u i p m e n t .
* I n l a n d m a r i n e c o v e r a g e f o r t h e c a l l b o x e s .
* E m p l o y e e b e n e f i t s l i a b i l i t y c o v e r a g e .
Page Two
September 5, 1991
RCTC Comprehensive General Liability Insurance Program.
By providing a copy of the report at an earlier meeting, it afforded the Commission the
opportunity to review the report and recommendations in advance of taking any action.
It also enabled staff to obtain insurance quotes for the various coverages and changes
recommended. Attached is a response from Schrimmer Insurance Agency detailing the
additional costs to the Commission to implement all of the recommended and suggested
changes. The total additional cost to the Commission would be between $14,000 and
$17,000 per year.
Staff has also discovered that since Commission qualifies as a special district it is eligible
to participate in the Special District Risk Management Authority's pooled insurance
program. We are now in the process of obtaining a quote if the Commission elects to
join this program. We are hopeful that this information will be available at the October
meeting.
The other aspect of the insurance review involves the professional liability associated with
the major Measure A projects. Armtech is currently putting together a draft and will be
prepared to submit a report to the Commission for the October meeting.
STAFF RECOMMENDATION:
Include in our existing coverages all those changes which would require no additional
costs to the Commission. All other items hold for discussion and action at the October
meeting.
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p z c e s s L i a b i l i t y p o l i c y ,
p r e m i u m
1 . 6 0 D a y N o t i c e o f C a n c e l l a t i o n N o C o s t
2 . Q u o t a t i o n f o r l i m i t s r e q u e s t e d :
$ 5 , 0 0 0 , 0 0 0 $ 2 , 6 0 0
$ 1 0 , 0 0 0 , 0 0 0 3 , 1 0 0
$ 2 0 , 0 0 0 , 0 0 0 5 , 1 0 0
3 . U m b r e l l a L i a b i l i t y P o l i c y w h i c h p a y s f o r
d e f e n s e a n d d o e s n o t i n c l u d e a u t o m a t i c
c a n c e l l a t i o n p r o v i s i o n s a s s t a t e d
p u b l i c o f f i c i a l s E r r o r , o m i s s i o n s L i a b i l i t y P o l i c y :
1 . 6 0 D a y N o t i c e o f C a n c e l l a t i o n
2 . R i v e r s i d e C o u n t y T r a n s p o r t a t i o n a d d e d
a s n a m e d i n s u r e d
3 . E x c l u s i o n f o r l o s s a r i s i n g o u t o f p u r c h a s e
o r f a i l u r e t o p u r c h a s e i n s u r a n c e .
N o n O w n e d A i r c r a f t L i a b i l i t y I n s u r a n c e :
$ 5 0 0 , 0 0 0 L i a b i l i t y L i m i t f o r n o n - o w n e d
A i r c r a f t
C r i m e i n s u r a n c e :
E m p l o y e e d i s h o n e s t y - $ 1 , 0 0 0 , 0 0 0 L i m i t o f
l i a b i l i t y i n c l u d i n g d e p o s i t o r s f o r g e r y
I n c l u d e d A b o v e
N o C o s t
N o C o s t
N o t A v a i l a b l e
$ 1 , 9 0 0
$ 3 , 0 0 0
RIVERBIDB COUNTY TRANSPoRTA`PION COMMISSION
property: premium
1. $325,000 Business Personal Property which
includes computer equipment and data $ 888
processing coverage
2. Co -Insurance requirement removed from business
package No Cost
3. Extra Expense Coverage - $100,000 $ 469
4. Earthquake Coverage (includes leasehold
improvements in 7 below) $ 1,500
5. Inland Marine and Electronic Data Processing
coverage for items used by Commuter Trans-
portation Services Included Above
6. Inland Marine coverage for call boxes -
$25,000 deductible applies - $1,500,000
Limit $ 1,875
7. Landlords Improvements and Betterments $ 100
general Liability:
1. Endorsement including RCTC and all boards,
commissions, etc.
2. 60 Day Notice of Cancellation
3. Endorsement applicable to General Liability
only providing that RCTC's obligation to report
loss applies after the person responsible is
made aware of the loss - Does not apply to
Errors and Omissions Coverage
4. Employee Benefits Liability - $1,000,000
limit
No Cost
No Cost
No Cost
$ 225
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A G E N D A I T E M # 4
RIVERSIDE COUNTY TRANSPORTATION COMNIISSION
September 5, 1991
TO: Administrative Committee
Budget and Finance Committee
FROM: Cathy Bechtel, Staff Analyst III
THROUGH: Jack Reagan, Executive Director
SUBJECT: Consultant Selection for the Performance Audit of the Riverside County
Transportation Commission and Riverside County Transit Operators
In accordance with Public Utilities Code 99246, the Commission is required to conduct
a performance audit of our activities and the activities of each operator to whom we
allocate funds. These audits are required every three years and our next audit must be
completed by July 1, 1992.
Staff recommends that the Commission negotiate a contract with Booz-Allen & Hamilton,
if possible, to conduct the FY 1991-92 Performance Audits rather than seek other
proposals for the following reasons:
o Booz-Allen & Hamilton performed well in conducting the last Performance Audits,
which were done in FY 1988-89.
o There is a learning curve whenever new consultants are brought on board. The
Booz-Allen staff is familiar with the operators and recommended actions from the
last audit. We believe that, similar to financial audits, there is a value to having the
same firm conduct a second audit to review progress on recommendations which
they developed.
o Staff would then recommend that the Commission should request proposals
from other qualified firms when the next audits are due in three years (FY 1994-95).
Staff will meet with the Booz-Allen & Hamilton audit team to develop a scope of work and
to determine the cost for the audits. The recommended budget for this contract will be
presented to the Budget and Finance Committee. The previous budget for this audit was
$54,365.66.
STAFF RECOMMENDATION:
Commission approval to negotiate a contract with Booz-Allen & Hamilton to conduct the
FY 1991-92 Commission and Transit Operator Performance Audits.
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A G E N D A I T E M # 5
"
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M N I I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t & F i n a n c e C o m m i t t e e
F R O M : P a u l B l a c k w e l d e r , D e p u t y E x e c u t i v e D i r e c t o r
S U B J E C T : S e l f H e l p C o u n t i e s C o a l i t i o n C l e r i c a l S u p p o r t F u n d i n g R e q u e s t
T h e S e l f H e l p C o u n t i e s C o a l i t i o n i s c o m p r i s e d o f s t a f f r e p r e s e n t a t i v e s f r o m t h e a g e n c i e s
t h r o u g h o u t t h e S t a t e t h a t a r e r e s p o n s i b l e f o r a d m i n i s t e r i n g l o c a l s a l e s t a x t r a n s p o r t a t i o n
p r o g r a m s . I n a d d i t i o n , C a l t r a n s m a n a g e m e n t s t a f f i n c h a r g e o f l o c a l p r o g r a m s a t t e n d t h e
m e e t i n g s . T h i s g r o u p m e e t s m o n t h l y i n c o n j u n c t i o n w i t h t h e C T C m e e t i n g s . W e h a v e
f o u n d t h e s h a r i n g o f k n o w l e d g e a n d c o m m o n p r o b l e m s a n d t h e d e v e l o p m e n t o f s o l u t i o n s
i n v a l u a b l e . T h e g r o u p h a s b e e n r e q u e s t e d t o a p p e a r b e f o r e t h e C T C a n d m a k e
r e c o m m e n d a t i o n s f o r i m p r o v i n g p r o j e c t d e l i v e r y o f t h e h i g h w a y p r o g r a m . T h e i r
s u g g e s t i o n s h a v e b e e n p a s s e d o n t o C a l t r a n s f o r i m p l e m e n t a t i o n . W e w e r e a l s o a b l e t o
c o n v i n c e L e g i s l a t o r s t o k e e p f u n d i n g i n t a c t f o r t h e S t a t e L o c a l P a r t n e r s h i p P r o g r a m ( S B
3 0 0 ) i n t h e B u d g e t t h i s y e a r .
W i l l K e m p t o n f r o m t h e S a n t a C l a r a T r a n s p o r t a t i o n A u t h o r i t y h a s , f o r t h e p a s t t h r e e y e a r s ,
b e e n g r a c i o u s e n o u g h t o a r r a n g e a l l o f t h e m e e t i n g s , p r e p a r e a n d m a i l o u t a g e n d a s ,
k e e p m i n u t e s o f t h e m e e t i n g s , a n d d o o t h e r c l e r i c a l a n d m a i l i n g t a s k s a t n o c o s t t o t h e
m e m b e r s . H e h a s i n f o r m e d u s t h a t h e c a n n o l o n g e r d o t h i s a n d s u g g e s t e d t h a t t h e
C o a l i t i o n s h o u l d c o n s i d e r c o n t r a c t i n g f o r t h i s s u p p o r t . T h e m a x i m u m a m o u n t o f t h e
p r o p o s e d c o n t r a c t f o r t h e n e x t y e a r i s $ 3 0 , 0 0 0 . T h e s h a r e r e q u e s t e d f r o m o u r
C o m m i s s i o n i s $ 2 , 5 0 Q .
S T A F F R E C O M M E N D A T I O N :
A p p r o v e a c o n t r i b u t i o n o f u p t o $ 2 , 5 0 0 a s t h e R i v e r s i d e C o u n t y s h a r e o f f u n d i n g c l e r i c a l
s u p p o r t f o r t h e S e l f H e l p C o u n t i e s C o a l i t i o n .
P B : s c
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A G E N D A I T E M # 6
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t & F i n a n c e C o m m i t t e e
F R O M : D e a n M a r t i n , C o n t r o l l e r
S U B J E C T : U p d a t e f r o m F i n a n c i a l A d v i s o r
D o u g A u s l a n d e r , S e n i o r V i c e P r e s i d e n t o f K e m p e r S e c u r i t i e s G r o u p . w i l l m a k e a n o r a l
p r e s e n t a t i o n t o t h e f u l l C o m m i s s i o n o n r e c e n t d e v e l o p m e n t s w i t h r e s p e c t t o t h e
C o m m i s s i o n ' s d e b t f i n a n c i n g .
S T A F F R E C O M M E N D A T I O N :
R e c e i v e a n d f i l e .
D M : s c
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A G E N D A I T E M # 7
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
September 5, 1991
TO: Administrative Committee
Budget & Finance Committee
FROM: Dean Martin, Controller
THROUGH: Jack Reagan, Executive Director
SUBJECT: Commercial Paper Documentation
At the January 9, 1991 Commission meeting, an initial Resolution was approved
authorizing the issuance of up to $100,000,000 of Tax Exempt Commercial Paper
supported by sales tax revenues. Our financial advisors were recommending the
commercial paper program as a means of issuing short term indebtedness with the
flexibility to repay as soon as possible. This instrument serves to complement our long
term fixed bond issue and thus strengthens the comprehensive financing program as
developed by staff and our financial advisors and provides a financing tool that is close
to a "pay-as-you-go" policy.
The Resolution authorized the Executive Director to move forward in putting the program
together including developing the documentation and obtaining a bank credit facility to
support the commercial paper. This documentation is now being provided for
Commission review and approval. The documentation enclosed herein is the Resolution
authorizing issuance including all terms and conditions for issuance, the Dealer
Agreement with Goldman Sachs, the Issuing and Paying Agent Agreement with Security
Pacific National Bank, and the Line of Credit Agreement with the Industrial Bank of Japan.
Though the documentation is in substantially complete form, there are still some
provisions that are being or may need to be negotiated. Those provisions primarily relate
to fees to be charged to the Commission and perhaps some minor wording changes.
At an earlier Commission meeting, there were some preliminary discussions on the bank
line of credit agreement. At that time, there was considerable concern expressed over
a provision within the agreement which placed the Commission in the position of
indemnifying the bank for its own negligence. At the direction of the Commission, staff
and legal counsel worked with the bank to remove this onerous provision. Attorneys for
both sides successfully worked out wording changes which better protect the
Page Two
September 5, 1991
Commercial Paper Documentation
Commission and potentially provides the bank with a slight fee increase to compensate
for what the bank perceives to be a heightened risk position.
STAFF RECOMMENDATION:
Approve the resolution and related documents subject to the Executive Director
approving any minor word changes and filal fee structures.
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I s s u i n g a n d P a y i n g A g e n t A g r e e m e n t
S e c u r i t y P a c i f i c N a t i o n a l
T r u s t C o m p a n y ( N e w Y o r k )
2 R e c t o r S t r e e t , 9 t h f l o o r
N e w Y o r k , N e w Y o r k 1 0 0 0 6
A t t n : C o r p o r a t e T r u s t D i v i s i o n
R e : I s s u e D e s c r i p t i o n
C o m m e r c i a l P a p e r P r o g r a m
G e n t l e m e n a n d L a d i e s :
T h i s l e t t e r w i l l s e t f o r t h t h e u n d e r s t a n d i n g s m a d e a m o n g y o u a n d
t h e u n d e r s i g n e d , , a c o r p o r a t i o n
( " " ) , w h e r e b y y o u h a v e a g r e e d t o a c t a s d e p o s i t a r y
f o r t h e s a f e k e e p i n g o f c e r t a i n n o t e s o f w h i c h m a y b e i s s u e d
a n d s o l d i n t h e c o m m e r c i a l p a p e r m a r k e t ( t h e " C o m m e r c i a l P a p e r
N o t e s " ) , a s i s s u i n g a g e n t o n b e h a l f o f i n c o n n e c t i o n w i t h
t h e i s s u a n c e o f t h e C o m m e r c i a l P a p e r N o t e s a n d a s p a y i n g a g e n t t o
u n d e r t a k e c e r t a i n o b l i g a t i o n s a s d e s c r i b e d b e l o w o n b e h a l f o f t h e
h o l d e r s o f t h e C o m m e r c i a l P a p e r N o t e s .
1 . A p p o i n t m e n t o f A g e n t . h e r e b y r e q u e s t s t h a t y o u
a c t , o n t h e t e r m s a n d c o n d i t i o n s s p e c i f i e d h e r e i n , a s i s s u i n g
a n d p a y i n g a g e n t f o r t h e C o m m e r c i a l P a p e r N o t e s w h i c h s h a l l
f r o m t i m e t o t i m e d e l i v e r o r c a u s e t o b e d e l i v e r e d t o y o u . T h e
C o m m e r c i a l P a p e r N o t e s w i l l b e s u b s t a n t i a l l y i n t h e f o r m a t t a c h e d
h e r e t o a s E x h i b i t A a n d w i l l b e p l a c e d t h r o u g h ( t h e
" D e a l e r " ) . I f C o m m e r c i a l P a p e r N o t e s w i l l b e a r i n t e r e s t , E x h i b i t
A w i l l b e m o d i f i e d a c c o r d i n g l y . A t n o t i m e w i l l t h e a g g r e g a t e
a m o u n t o f s u c h N o t e s o u t s t a n d i n g e x c e e d
- 1 -
2. Supply of Commercial Paper Notes. will from time
to time furnish you with an adequate supply of Commercial Paper
Notes, which will be serially numbered and will have been
executed by manual or facsimile signature of an Authorized
Representative (as hereafter defined), with the principal
amount, payee, date of issue, maturity date, amount of
interest (if an interest -bearing Commercial Paper Note) and
maturity value left blank. Pelding receipt of instructions
pursuant to this Agreement, you will hold the Commercial
Paper Notes in safekeeping for the account of in
accordance with your customary practice. The Commercial
Paper Notes shall be printed on a manifold that will produce
one original and three nonnegotiable copies.
3. Authorized Representatives. From time to
time will furnish you with a certificate certifying
the incumbency and specimen signatures of officers or agents of
authorized to execute Commercial Paper Notes on behalf
of by manual or facsimile signature and/or to
take other action hereunder on behalf of (each an
"Authorized Representative"). Until you receive a
subsequent incumbency certificate of , you are entitled to
rely on the last such certificate delivered to you for purposes of
determining the Authorized Representatives.
-2-
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Y o u s h a l l n o t h a v e a n y r e s p o n s i b i l i t y t o t o d e t e r m i n e b y
w h o m o r b y w h a t m e a n s a f a c s i m i l e s i g n a t u r e m a y h a v e b e e n a f f i x e d o n
t h e C o m m e r c i a l P a p e r N o t e s , o r t o d e t e r m i n e w h e t h e r a n y f a c s i m i l e
o r m a n u a l s i g n a t u r e r e s e m b l e s t h e s p e c i m e n s i g n a t u r e ( s ) f i l e d
w i t h y o u b y a d u l y a u t h o r i z e d o f f i c e r o f A n y C o m m e r c i a l
P a p e r N o t e s b e a r i n g t h e m a n u a l o r f a c s i m i l e s i g n a t u r e o r a p e r s o n
w h o i s a n A u t h o r i z e d R e p r e s e n t a t i v e o n t h e d a t e s u c h
s i g n a t u r e i s a f f i x e d s h a l l b i n d a f t e r t h e c o m p l e t i o n t h e r e o f
b y y o u n o t w i t h s t a n d i n g t h a t s u c h p e r s o n s h a l l h a v e d i e d
o r s h a l l h a v e o t h e r w i s e c e a s e d t o h o l d h i s o f f i c e o n t h e d a t e
s u c h C o m m e r c i a l P a p e r N o t e i s c o u n t e r s i g n e d o r d e l i v e r e d t o y o u .
4 . C o m p l e t i o n , A u t h e n t i c a t i o n a n d D e l i v e r y o f C e r t i f i c a t e s
o f D e p o s i t . ( a ) I n s t r u c t i o n s f o r t h e i s s u a n c e o f C o m m e r c i a l
P a p e r N o t e s w i l l b e g i v e n v i a a t i m e - s h a r i n g t e r m i n a l , i f
a v a i l a b l e , o r b y t e l e p h o n e , p r o m p t l y c o n f i r m e d i n w r i t i n g
( f a c s i m i l e ) e i t h e r b y a n A u t h o r i z e d R e p r e s e n t a t i v e , o r b y
a n y o f f i c e r o r e m p l o y e e o f t h e D e a l e r ( " A u t h o r i z e d D e a l e r
R e p r e s e n t a t i v e " ) w h o h a s b e e n d e s i g n a t e d b y a n A u t h o r i z e d
R e p r e s e n t a t i v e i n w r i t i n g t o y o u a s a p e r s o n a u t h o r i z e d
t o g i v e s u c h i n s t r u c t i o n s h e r e u n d e r , p r o v i d e d t h a t i n s t r u c t i o n s
m a y b e g i v e n b y t e l e p h o n e ( b y o n l y ) o r i n w r i t i n g i f
t h e s y s t e m i s u n a v a i l a b l e o r i s i n o p e r a t i v e . U p o n r e c e i p t o f
i n s t r u c t i o n s a s d e s c r i b e d i n t h e p r e c e d i n g s e n t e n c e , y o u w i l l
w i t h d r a w t h e n e c e s s a r y C o m m e r c i a l P a p e r N o t e ( s ) f r o m s a f e k e e p i n g
a n d , i n a c c o r d a n c e w i t h s u c h i n s t r u c t i o n s , s h a l l :
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(1) complete each Commercial Paper Note as to principal
amount (which shall not be less than $100,000), payee, date of
issue, maturity date, (which shall not be more than 270 days from
the date of issue), amount of interest (if any) and maturity
value; and
(2) manually countersign each Commercial Paper Note by any
one of your officers or employees duly authorized and designated
for this purpose; and
(3) deliver the Commercial Paper Note(s) to the Dealer or
its agent within the Borough of Manhattan, City and State of New
York, which delivery shall be against receipt for payment as
herein provided or as otherwise provided in such instructions.
(If such instructions do not provide for such receipt, the Dealer
shall nevertheless pay the purchase price for the Commercial
Paper Note(s) in accordance with Paragraph 5).
Of the three nonnegotiable copies of each Commercial Paper Note,
two shall be retained by you and one shall be sent promptly to
(b) Instructions given via the time-sharing terminal must
be entered by 12:00 noon New York time, and instructions
delivered by telephone or in writing must be received by you by
12:00 p.m., New York time, if the Commercial Paper Note(s) are to
be delivered the same day. Telephone instructions shall be
confirmed in writing the same day.
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( c ) u n d e r s t a n d s t h a t a l t h o u g h y o u h a v e b e e n
i n s t r u c t e d t o d e l i v e r C o m m e r c i a l P a p e r N o t e s a g a i n s t p a y m e n t ,
d e l i v e r y o f C o m m e r c i a l P a p e r N o t e s w i l l , i n a c c o r d a n c e w i t h t h e
c u s t o m p r e v a i l i n g i n t h e c o m m e r c i a l p a p e r m a r k e t , b e m a d e b e f o r e
r e c e i p t o f p a y m e n t i n i m m e d i a t e l y a v a i l a b l e f u n d s . T h e r e f o r e ,
o n c e y o u h a v e d e l i v e r e d a C o m m e r c i a l P a p e r N o t e t o t h e D e a l e r o r
i t s a g e n t a s p r o v i d e d i n P a r a g r a p h 4 ( a ) ( 3 ) , s h a l l b e a r
t h e r i s k t h a t t h e D e a l e r o r i t s a g e n t f a i l s t o r e m i t p a y m e n t f o r
t h e C o m m e r c i a l P a p e r N o t e t o y o u . I f i s u n d e r s t o o d t h a t e a c h
d e l i v e r y o f C o m m e r c i a l P a p e r N o t e s h e r e u n d e r s h a l l b e s u b j e c t t o
t h e r u l e s o f t h e N e w Y o r k C l e a r i n g H o u s e i n e f f e c t a t t h e t i m e o f
s u c h d e l i v e r y .
S . P r o c e e d s o f S a l e o f t h e C o m m e r c i a l P a p e r N o t e s .
C o n t e m p o r a n e o u s l y w i t h t h e e x e c u t i o n a n d d e l i v e r y o f t h i s
A g r e e m e n t , a n d f o r t h e p u r p o s e s o f t h i s A g r e e m e n t , y o u w i l l
e s t a b l i s h a n a c c o u n t d e s i g n a t e d t h e N o t e A c c o u n t
i n n a m e ( t h e " N o t e A c c o u n t " ) . O n e a c h d a y o n w h i c h
t h e D e a l e r o r i t s a g e n t t a k e s d e l i v e r y o f C o m m e r c i a l P a p e r N o t e s ,
i t s h a l l p a y t h e p u r c h a s e p r i c e f o r s u c h C o m m e r c i a l P a p e r N o t e s
i n i m m e d i a t e l y a v a i l a b l e f u n d s f o r c r e d i t t o t h e N o t e A c c o u n t .
F r o m t i m e t o t i m e u p o n t e l e p h o n i c o r w r i t t e n i n s t r u c t i o n s
r e c e i v e d b y y o u f r o m a n A u t h o r i z e d R e p r e s e n t a t i v e , y o u
a g r e e t o t r a n s f e r i m m e d i a t e l y a v a i l a b l e f u n d s f r o m t h e
N o t e A c c o u n t t o a n y b a n k o r t r u s t c o m p a n y f o r o u r a c c o u n t .
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6. Payment of Matured Commercial Paper Notes. By 1:00 p.m.
New York time on the date that any Commercial Paper Notes are
scheduled to mature, there shall have been transferred to you for
deposit in the Note Account immediately available funds at least
equal to the amount of Commercial Paper Notes maturing on such
date. When any matured Commercial Paper Note is presented to you
for payment by the holder thereof, payment shall be made from and
charged to the Note Account to the extent funds sufficient to
effect such payment are available in said account.
•
7. Reliance on Instructions. You shall incur no liability
to in acting hereunder upon telephonic or other instructions
contemplated hereby which the recipient thereof believed in good
faith to have been given by an Authorized Representative
or Authorized Dealer Representative, as the case may be. In the
event a discrepancy exists with respect to the telephonic
instructions as recorded and understood by you will be deemed
the controlling and proper instructions. It is understood that
all telephonic instructions will be recorded by you and
hereby consents to such recording.
8. Cancellation of Commercial Paper Notes.
You will in
due course cancel Commercial Paper Note(s) presented for payment
and return them to Promptly upon the written request
of , you agree to
cancel and return to all unissued
Commercial Paper Notes in your possession at the time of such
request.
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9 . R e p r e s e n t a t i o n s a n d W a r r a n t i e s o f E a c h
i n s t r u c t i o n g i v e n t o y o u i n a c c o r d a n c e w i t h P a r a g r a p h 4 s h a l l
c o n s t i t u t e a r e p r e s e n t a t i o n a n d w a r r a n t y t o y o u b y
t h a t t h e r e p r e s e n t a t i o n s a n d w a r r a n t i e s s e t o u r i n
E x h i b i t B h e r e t o a r e t r u e a n d c o r r e c t o n t h e d a t e o f t h e
i n s t r u c t i o n a s i f m a d e o n s u c h d a t e .
1 0 . N o t i c e ; A d d r e s s e s . ( a ) A l l c o m m u n i c a t i o n s b y o r o n
b e h a l f o f o r t h e d e a l e r , b y t e l e p h o n e o r o t h e r w i s e ,
r e l a t i n g t o t h e c o m p l e t i o n , d e l i v e r y o r p a y m e n t o f t h e C o m m e r c i a l
P a p e r N o t e ( s ) a r e t o b e d i r e c t e d t o y o u r C o m m e r c i a l P a p e r
I s s u a n c e U n i t o f t h e C o r p o r a t e T r u s t D i v i s i o n ( o r s u c h o t h e r
d e p a r t m e n t o r d i v i s i o n w h i c h y o u s h a l l s p e c i f y i n w r i t i n g t o
o r t h e D e a l e r ) . w i l l s e n d a l l C o m m e r c i a l P a p e r
N o t e s t o b e c o m p l e t e d a n d d e l i v e r e d b y y o u t o y o u r C o m m e r c i a l
P a p e r I s s u a n c e U n i t o f t h e C o r p o r a t e T r u s t D i v i s i o n ( o r s u c h
o t h e r d e p a r t m e n t o r d i v i s i o n a s y o u s h a l l s p e c i f y i n w r i t i n g t o
. Y o u w i l l a d v i s e a n d t h e D e a l e r f r o m t i m e t o
t i m e o f t h e i n d i v i d u a l s g e n e r a l l y r e s p o n s i b l e f o r t h e
a d m i n i s t r a t i o n o f t h i s A g r e e m e n t a n d w i l l f r o m t i m e t o t i m e
c e r t i f y i n c u m b e n c y a n d s p e c i m e n s i g n a t u r e s o f o f f i c e r s o r
e m p l o y e e s a u t h o r i z e d t o c o u n t e r s i g n C o m m e r c i a l P a p e r N o t e s a n d
w i l l s u p p l y a l i s t o f e m p l o y e e s a u t h o r i z e d t o r e c e i v e t e l e p h o n e
i n s t r u c t i o n s .
- 7 -
(b) Notices and other communications hereunder shall
(except to the extent otherwise expressly provided) be in writing
and shall be addressed as follows, or to such other address as
the party receiving such notice shall have previously specified
to the party sending such notice:
if to at:
if to you at:
(a) concerning the daily issuance of
Commercial Paper Note:::
Security Pacific National Trust
Company (New York)
2 Rector Street
New York, New York
Corporate Trust Division
Telecopy No.: 212/978-5140
(b) concerning all other matters:
Security Pacific National Trust
Company (New York)
2 Rector Street
New York, New York
Attn: Corporate Trust Division
Telecopy No.: 212/978-5060
if to dealer at:
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N o t i c e s s h a l l b e d e e m e d d e l i v e r e d w h e n r e c e i v e d a t t h e a d d r e s s
s p e c i f i e d a b o v e . F o r p u r p o s e s o f t h i s p a r a g r a p h , " w h e n r e c e i v e d "
s h a l l m e a n a c t u a l r e c e i p t ( i ) o f a n e l e c t r o n i c c o m m u n i c a t i o n b y a
t e l e x m a c h i n e , t e l e c o p i e r o r t i m e - s h a r i n g t e r m i n a l s p e c i f i e d i n
o r p u r s u a n t t o t h i s A g r e e m e n t ; ( i i ) o f a n o r a l c o m m u n i c a t i o n b y
a n y p e r s o n a n s w e r i n g t h e t e l e p h o n e a t y o u r o f f i c e s p e c i f i e d i n
s u b p a r a g r a p h 1 0 ( a ) h e r e o f a n d o t h e r w i s e a t t h e o f f i c e o f t h e
i n d i v i d u a l o r d e p a r t m e n t s p e c i f i e d i n o r p u r s u a n t t o t h i s
A g r e e m e n t ; o r ( i i i ) o f a w r i t t e n c o m m u n i c a t i o n h a n d - d e l i v e r e d a t
t h e o f f i c e s p e c i f i e d i n o r p u r s u a n t t o t h i s A g r e e m e n t .
1 1 . A d d i t i o n a l I n f o r m a t i o n . U p o n t h e r e a s o n a b l e r e q u e s t o f
g i v e n a t a n y t i m e a n d f r o m t i m e t o t i m e , y o u s h a l l p r o m p t l y
p r o v i d e w i t h i n f o r m a t i o n w i t h r e s p e c t t o t h e C o m m e r c i a l
P a p e r N o t e ( s ) i s s u e d a n d p a i d h e r e u n d e r . S u c h r e q u e s t s h a l l b e
i n w r i t t e n f o r m a n d s h a l l i n c l u d e t h e s e r i a l n u m b e r , p r i n c i p a l
a m o u n t , d a t e o f i s s u e , m a t u r i t y d a t e a n d a m o u n t o f i n t e r e s t , i f
a n y , o f e a c h C o m m e r c i a l P a p e r N o t e w h i c h h a s b e e n i s s u e d o r p a i d
b y y o u a n d f o r w h i c h t h e r e q u e s t i s b e i n g m a d e . Y o u a n d
s h a l l d i s c u s s f r o m t i m e t o t i m e t h e e x t e n t t o w h i c h s u c h
i n f o r m a t i o n i s r e a s o n a b l y a v a i l a b l e a n d t h e t i m e s a t w h i c h y o u
c a n r e a s o n a b l y f u r n i s h s u c h i n f o r m a t i o n .
12. Liability. Neither you nor your officers, employees or
agents shall be liable for any act or omission hereunder, except
in the case of gross negligence or willful misconduct. Your
duties and obligations and those of your officers and employees
shall be determined by the express provisions of this Agreement,
and they shall not be liable except for the performance of such
duties and obligations as are specifically set forth herein, and
no implied covenants shall be read into this Agreement against
them. Neither you nor your officers or employees shall be
required to ascertain whether any issuance or sale of Commercial
Paper Note(s) (or any amendment or termination of this Agreement)
has been duly authorized or is in compliance with any other
agreement to which is a party (whether or not you are a
party to such other agreement).
13. Indemnification. agrees to indemnify and hold you
and your officers, employees and agents harmless from and against
all liabilities, claims, damages, costs and expenses (including
legal fees and expenses) relating to or arising out of their
actions or inactions in connection with this Agreement, except to
the extent they are caused by your gross negligence or willful
misconduct. This indemnity shall survive termination of this
Agreement.
14. Benefit of Agreement. This Agreement is solely for the
benefit of the parties hereto, and no other person shall acquire
or have any right under or by virtue hereof.
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1 5 . T e r m i n a t i o n . T h i s A g r e e m e n t m a y b e t e r m i n a t e d a t a n y
t i m e b y e i t h e r y o u o r b y 1 5 d a y s ' p r i o r w r i t t e n n o t i c e t o
t h e o t h e r , b u t s u c h t e r m i n a t i o n s h a l l n o t a f f e c t t h e r e s p e c t i v e
l i a b i l i t i e s o f t h e p a r t i e s h e r e u n d e r a r i s i n g p r i o r t o s u c h
t e r m i n a t i o n .
1 6 . G o v e r n i n g L a w . T h i s A g r e e m e n t i s t o b e d e l i v e r e d a n d
p e r f o r m e d i n , a n d s h a l l b e c o n s t r u e d a n d e n f o r c e d i n a c c o r d a n c e
w i t h , a n d t h e r i g h t s o f t h e p a r t i e s s h a l l b e g o v e r n e d b y , t h e l a w
o f t h e S t a t e o f N e w Y o r k .
1 7 . F e e s . Y o u s h a l l r e c e : . v e f e e s f r o m f o r a c t i n g a s
D e p o s i t a r y , i s s u i n g a n d p a y i n g a g e n t h e r e u n d e r i n s u c h a m o u n t s a s
y o u a n d s h a l l a g r e e f r o m t i m e t o t i m e i n w r i t i n g .
P l e a s e i n d i c a t e y o u r a g r e e m e n t w i t h a n d a c c e p t a n c e o f t h e
f o r e g o i n g t e r m s a n d p r o v i s i o n s b y s i g n i n g t h e c o u n t e r p a r t o f
t h i s l e t t e r e n c l o s e d h e r e w i t h a n d r e t u r n i n g i t t o
B y
I t s
A g r e e d t o a n d a c c e p t e d t h i s d a y o f
S E C U R I T Y P A C I F I C N A T I O N A L
T R U S T C O M P A N Y ( N E W Y O R K )
a s I s s u i n g a n d P a y i n g A g e n t
B y
I t s
- 1 1 -
Exhibit 8
, a corporation •
hereby represents and warrants to you that:
1. Due Incorporation. has been duly incorporated
and is validly existing in good standing as a corporation under
the laws of the State of and has all requisite corporate
power and authority under its certificate of incorporation and
the law of to conduct its business as proposed to be
conducted.
2. Authorization of Agreements; No Conflict. The
execution, delivery and performance by of the Issuing and
Paying Agency Agreement (the "Agreement"), the appointment of you
to act for the Issuer under the Agreement and the issuance and
delivery of the Notes (as defined in the Agreement) are within
corporate powers, have been duly authorized by all
necessary corporate action, and do not contravene (i) certificate
of incorporation or bylaws or (ii) any statute, order, rule,
regulation, judgment or contractual restriction binding on or
purporting to bond or affect
3. No Governmental Consent Required. No authorization or
approval or other action by, and no notice to or filing with, any
governmental authority or regulatory body is required for the due
execution, delivery and performance by or the consummation
of other transactions by contemplated by the Agreement.
-12-
•
•
"
"
"
4 . V a l i d a n d B i n d i n g . T h e A g r e e m e n t i s , a n d , w h e n
e x e c u t e d , a u t h e n t i c a t e d , d e l i v e r e d a n d p a i d f o r a s r e q u i r e d b y
t h e A g r e e m e n t , t h e N o t e s w i l l b e , l e g a l , v a l i d a n d b i n d i n g
o b l i g a t i o n s o f e n f o r c e a b l e a g a i n s t
i n a c c o r d a n c e w i t h
i t s o r t h e i r t e r m s , s u b j e c t t o a p p l i c a b l e b a n k r u p t c y , i n s o l v e n c y ,
r e o r g a n i z a t i o n o r o t h e r s i m i l a r l a w s r e l a t i n g t o o r a f f e c t i n g t h e
e n f o r c e m e n t o f c r e d i t o r s ' r i g h t g e n e r a l l y a n d s u b j e c t , a s t o
e n f o r c e a b i l i t y , t o g e n e r a l p r i n c i p l e s o f e q u i t y ( r e g a r d l e s s o f
w h e t h e r e n f o r c e m e n t i s s o u g h t i n a p r o c e e d i n g i n e q u i t y o r a t
l a w ) , a n d ( c ) r i g h t s t o i n d e m n i t y h e r e u n d e r m a y b e l i m i t e d b y
a p p l i c a b l e f e d e r a l o r s t a t e s e c u r i t i e s l a w s .
- 1 3 -
CERTIFICATE OF INCUMBENCY
I, of
,a Corporation, do
hereby certify that the persons named below are, and at all times
since the date of their last election, on , have been
duly elected, qualifed and acting officers of the Company,
holding the offices set opposite their respective names; that I
an familiar with the signature of such officers and that the
signatures set opposite their respective names are their genuine
signatures:
NAME & TITLE SIGNATURE
•
•
WITNESS my hand and the corporate seal of the Company this
day of ,
(CORPORATE SEAL)
I, , of
, do hereby certify that I am
familiar with the signature of of the
Company, and that the signature set opposite his name in the
foregoing certificate is his genuine signature.
IN WITNESS WHEREOF, I have signed this certificate this
day of
-14-
•
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"
"
D E A L E R A G R E E M E N T
T h i s D e a l e r A g r e e m e n t d a t e d a s o f _ , 1 9 9 1 c o n f i r m s o u r a g r e e m e n t w h e r e b y G o l d m a n S a c h s
w i l l a c t a s t h e e x c l u s i v e d e a l t i � i t h r e s p e c t t o t h e R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n S a l e s T a x
R e v e n u e C o m m e r c i a l P a p e r N o t e s ( L i m i t e d T a x B o n d s ) ( t h e ' C o m m e r c i a l P a p e r N o t e s ' ) t o b e i s s u e d b y
t h e R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n ( t h e ' C o m m i s s i o n " ) i n a n a g g r e g a t e p r i n c i p a l a m o u n t
n o t t o e x c e e d $ 1 0 0 , 0 0 0 , 0 0 0 o u t s t a n d i n g a t a n y o n e t i m e . E a c h o f t h e C o m m e r c i a l P a p e r N o t e s s h a l l ( a )
b e i s s u e d i n b e a r e r f o r m ; ( b ) b e i s s u e d i n d e n o m i n a t i o n s o f $ 1 0 0 , 0 0 0 o r a n y m u l t i p l e o f $ 1 , 0 0 0 i n e x c e s s
t h e r e o f ; ( c ) h a v e a m a t u r i t y n o t e x c e e d i n g 2 7 0 d a y s f r o m t h e d a t e o f i s s u e ; p r o v i d e d n o m a t u r i t y m a y b e
l a t e r t h a n t h e M a x i m u m M a t u r i t y D a t e ( a s d e f i n e d i n t h e R e s o l u t i o n ) ; ( d ) n o t c o n t a i n a n y c o n d i t i o n o f
r e d e m p t i o n o r r i g h t t o p r e p a y ; a n d ( e ) b e i s s u e d a t a r a t e o f i n t e r e s t n o t t o e x c e e d { 1 0 % ) p e r a n n u m .
1 . T h e C o m m i s s i o n r e p r e s e n t s a n d w a r r a n t s t h a t A ) t h e C o m m i s s i o n h a s t a k e n a l l n e c e s s a r y a c t i o n
a n d h a s f u l l p o w e r : ( i ) t o e n t e r i n t o t h i s D e a l e r A g r e e m e n t ; ( i i ) e n a c t t h e R e s o l u t i o n ; ( i i i ) t o e n t e r
i n t o t h e { C r e d i t A g r e e m e n t } { L i q u i d i t y A g r e e m e n t } w h i c h h a s b e e n p r o v i d e d t o G o l d m a n S a c h s :
a n d ( i v ) t o i s s u e a n d d e l i v e r t h e C o m m e r c i a l P a p e r N o t e s f r o m t i m e t o t i m e a n d t o e n t e r i n t o t h e
t r a n s a c t i o n s c o n t e m p l a t e d b y t h e R e s o l e ' l i o n a n d t h i s D e a l e r A g r e e m e n t a n d t o c a r r y o u t i t s
o b l i g a t i o n s t h e r e u n d e r a n d h e r e u n d e r ; a r : d B ) t h e C o m m e r c i a l P a p e r N o t e s w h e n i s s u e d u n d e r
t h e R e s o l u t i o n , t h e { C r e d i t A g r e e m e n t } { L i q u i d i t y A g r e e m e n t } a n d t h i s D e a l e r A g r e e m e n t , u p o n
e x e c u t i o n a n d d e l i v e r y b y t h e C o m m i s s i o n , w i l l c o n s t i t u t e t h e l e g a l , v a l i d a n d b i n d i n g o b l i g a t i o n s
o f t h e C o m m i s s i o n a n d s h a l l b e e n f o r c e a b l e i n a c c o r d a n c e w i t h t h e i r r e s p e c t i v e t e r m s , b u t a r e
l i m i t e d b y a p p l i c a b l e b a n k r u p t c y , r e o r g a n i z a t i o n , m o r a t o r i u m , i n s o l v e n c y , o r o t h e r s i m i l a r l a w s ,
h e r e t o f o r e o r h e r e a f t e r e n a c t e d a f f e c t i n g t h e e n f o r c e m e n t o f c r e d i t o r ' s r i g h t s o r r e m e d i e s .
2 . G o l d m a n S a c h s a n d t h e C o m m i s s i o n a g r e e t h a t a n y C o m m e r c i a l P a p e r N o t e s w h i c h G o l d m a n
S a c h s m a y p u r c h a s e o r f o r w h i c h G o l d m a n S a c h s m a y a r r a n g e t h e s a l e w i l l b e p u r c h a s e d o r s o l d
o n a b e s t e f f o r t s b a s i s b a s e d u p o n t h e t e r m s a n d c o n d i t i o n s a n d i n t h e m a n n e r p r o v i d e d f o r i n
t h e R e s o l u t i o n a n d t h i s D e a l e r A g r e e m e n t .
3 . A l l t r a n s a c t i o n s i n C o m m e r c i a l P a p e r N o t e s b e t w e e n G o l d m a n S a c h s a n d : , I l e C o m m i s s i o n s h a l l
b e i n a c c o r d a n c e w i t h t h e R e s o l u t i o n a n d t h e c u s t o m a n d p r a c t i c e i n t h e c o m m e r c i a l p a p e r
m a r k e t a s s u c h c u s t o m a n d p r a c t i c e i s g o v e r n e d b y N e w Y o r k C l e a r i n g H o u s e g u i d e l i n e s t o t h e
e x t e n t s u c h c u s t o m a n d p r a c t i c e i s n o t i n c o n s i s t e n t w i t h t h e R e s o l u t i o n . T h e p u r c h a s e o f
C o m m e r c i a l P a p e r N o t e s b y G o l d m a n S a c h s , o r s a l e s a r r a n g e d b y G o l d m a n S a c h s , s h a l l b e
n e g o t i a t e d a n d a g r e e d u p o n o r a l l y b e t w e e n G o l d m a n S a c h s p e r s o n n e l a n d a n A u t h o r i z e d
R e p r e s e n t a t i v e o f t h e C o m m i s s i o n ( a s d e f i n e d i n t h e R e s o l u t i o n ) a n d , s u b j e c t t o t h e s t a n d a r d s
s e t f o r t h i n t h e R e s o l u t i o n , t h e p r i n c i p a l a m o u n t o f C o m m e r c i a l P a p e r N o t e s t o b e s o l d , t h e r a t e
a p p l i c a b l e t h e r e t o , a n d t h e m a t u r i t y t h e r e o f s h a l l b e s o d e t e r m i n e d . G o l d m a n S a c h s s h a l l n o t b e
o b l i g a t e d t o p u r c h a s e a n y C o m m e r c i a l P a p e r N o t e s u n l e s s a n d u n t i l a g r e e m e n t h a s b e e n
r e a c h e d i n e a c h c a s e o n t h e f o r e g o i n g p o i r n s , a n d G o l d m a n S a c h s h a s a g r e e d t o s u c h p u r c h a s e .
G o l d m a n S a c h s s h a l l c o n f i r m e a c h t r a n s a c t i o n m a d e w i t h o r a r r a n g e d b y i t t o t h e C o m m i s s i o n
b y t e l e p h o n e n o t l a t e r t h a n 1 : 0 0 p . m . , N e w Y o r k C i t y t i m e , o n t h e d a t e o f e a c h t r a n s a c t i o n a n d
i n w r i t i n g t o t h e C o m m i s s i o n .
a . G o l d m a n S a c h s a g r e e s t o o f f e r a n d s e l l t h e C o m m e r c i a l P a p e r N o t e s i n c o m p l i a n c e w i t h a l l
a p p l i c a b l e f e d e r a l s e c u r i t i e s l a w s a n d a p p l i c a b l e ' B l u e S k y o r s t a t e s e c u r i t i e s l a w s .
5 . T h e C o m m i s s i o n a g r e e s t h a t , o n o r p r i o r t o t h e d a t e C o m m e r c i a l P a p e r N o t e s a r e f i r s t i s s u e d , t h e
C o m m i s s i o n s h a l l d e l i v e r o r c a u s e t o b e d e l i v e r e d t o G o l d m a n S a c h s t h e w r i t t e n a p p r o v i n g
o p i n i o n o f B o n d C o u n s e l t o t h e C o m m i s s i o n , i n f o r m a c c e p t a b l e t o G o l d m a n S a c h s . I f o n a n y
d a t e B o n d C o u n s e l i n f o r m s t h e C o m m i s s i o n t h a t , b e c a u s e o f a c h a n g e i n l a w o r o t h e r w i s e ,
-.4
purchasers of the Commercial Paper Notes may no longer rely on the most recent opinion of
Bond Counsel delivered to Goldman Sachs pursuant to this paragraph, the Commission agrees
that (i) 4 shall immediately so notify Goldman and (ii) it shall not issue any Commercial Paper
Notes at any time thereafter until such Bond Counsel, or other Bond Counsel acceptable to
Goldman Sachs, issues an opinion in connection with the sale of Commercial Paper Notes
acceptable in substance to Goldman Sachs.
6. The responsibilities of Goldman Sachs hereunder will include (i) the soliciting of purchases of
Commercial Paper Notes by investors on a best effort basis, (ii) assisting the Commission and the
Issuing and Paying Agent (as defined in the Resolution) in effecting and processing such
purchases, and (iii) performing such other related functions as may be requested by an
Authorized Representative and agreed to by Goldman Sachs.
7 Goldman Sachs shall pay for the Commercial Paper Notes purchased by Goldman Sachs or sold
by Goldman Sachs in immediately available funds on the Business Day such Commercial Paper
Notes executed in a manner satisfactory to Goldman Sachs and in accordance with the terms of
the Resolution, are delivered to Goldman Sachs. The proceeds of such purchase or sale shall
be paid to the Issuing and Paying Agent and applied in accordance with instructions from the
Commission and the terms and provisions of the Resolution.
8. The Commission and Goldman Sachs agree that upon the purchase of Commercial Paper Notes
by Goldman Sachs or the sale of Commercial Paper Notes arranged by Goldman Sachs for the
benefit of the Commission, Goldman Sachs will be compensated at the rate of 1/8 of 1.0% per
annum on the par amount of Commercial Paper Notes sold, billed quarterly, in arrears. The fee
is calculated as foNows: Par amount x number of days to maturity x 1/8% of 1% divided by 366
days. Goldman Sachs shall be responsible for paying its customary and necessary out-of-pocket
expenses (including travel, lodging and meals), fees, assessments and other expenses as a
dealer. If Goldman Sachs chooses to use an underwriter's counsel, it will be responsible for all
costs associated with the engagement and use of such counsel.
9. Goldman Sachs is entitled to rely upon the Authorized Representative or other persons authorized
to act on behalf of the Commission as set forth in the Resolution to effect authorization of the sale
and terms of Commercial Paper Notes until otherwise notified in writing by the Commission.
10. Attached hereto as Exhibit A is a form of a certificate of the {Auditor -Controller} certifying as to
the incumbency of those officers of the Commission authorized to sign the Commercial Paper
Notes on behalf of the Commission and containing the true signatures of each of such persons.
The certificate shall be executed at or prior to closing and recertified as necessary.
11. The Commission agrees to notify Goldman Sachs promptly upon the occurrence of any event
which would render any material fact, disclosed in any financial or other report document provided
to Goldman Sachs by the Commission in connection with Goldman Sachs' preparation of the
Commercial Paper Memorandum, untrue or misleading in any material respect. The Commission
will also place Goldman Sachs on its distribution list for all Commission press releases and public
announcements.
12 The Commission and Goldman Sachs agree that the Commercial Paper Memorandum produced
annually by Goldman Sachs and distributed to commercial paper investors will be the
responsibility of Goldman Sachs.
13. This Dealer Agreement may be terminated oy the Commission at any time and by Goldman Sachs
by written notice to the Commission upon 30 days prior written notice to the Commission, except
that Goldman Sachs may cease offering Commercial Paper Notes d, for any reason the
Commercial Paper Memorandum is not accurate and complete in Goldman Sachs sole judgment
•
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F.�•
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or A, in Goldman Sachs sole judgment, the financial condition of the Commission has deteriorated
in any material respect or if the ratings on the Commercial Paper Notes are reduced or withdrawn.
Notwithstanding anything to the contrary in this Deafer Agreement, Goldman Sachs may, but shall
not be obligated to, purchase Commercial Paper Notes at any time from the Commission.
14. This Dealer Agreement shall be governed by the laws of the State of Caldornia; provided however,
that the laws of the state in which the principal office of Goldman Sachs is located shall govern
the performance of duties of the Dealer.
15. This Dealer Agreement may be executed in several counterparts, all or any of which shall be
regarded for all purposes as one original and shall constitute and be but one and the same
instrument. The terms of this Dealer Agreement may not be waived, altered, modified, amended
or supplemented in any manner whatsoever except by written instrument signed by both of the
parties hereto.
GOLDMAN, SACHS 8 CO. RIVERSIDE COUNTY TRANSPORTATION
COMMISSION
ey: By:
Title. Executive Director
(seal)
Attest
Auditor -Controller
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A G E N D A I T E M # 8
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t & F i n a n c e C o m m i t t e e
F R O M : M a r i l y n W i l l i a m s , S e n i o r S t a f f A n a l y s t
T H R O U G H : J a c k R e a g a n , E x e c u t i v e D i r e c t o r
S U B J E C T : M e a s u r e A L e a s e P a r k - n - R i d e P r o g r a m
T o i m p l e m e n t t h e M e a s u r e A L e a s e P a r k - n - R i d e P r o g r a m , t h e C o m m i s s i o n t o o k a c t i o n
i n M a y 1 9 9 0 t o a w a r d t w o c o n t r a c t s w i t h c o n s u l t a n t s t o n e g o t i a t e s e r v i c e s w i t h p r i v a t e
p r o p e r t y o w n e r s f o r p a r k - n - r i d e s p a c e s . F o r m a l a g r e e m e n t s w e r e c o m p l e t e d w i t h
S t e v e n s / G a r l a n d A s s o c i a t e s , I n c . a n d I n l a n d T r a n s p o r t a t i o n S e r v i c e s A u g u s t 1 5 , 1 9 9 1 a t
a n h o u r l y r a t e n o t t o e x c e e d $ 6 5 . 0 0 / h o u r .
O v e r t h e y e a r l o n g e f f o r t e a c h c o n s u l t a n t w a s a s s i g n e d a t o t a l o f 3 0 p r o p e r t y s i t e s t o
c o n t a c t . T h e p r o p e r t i e s w e r e s e l e c t e d f r o m a C a ! t r a n s l i s t o f i d e n t i f i e d e x i s t i n g p a r k i n g
l o c a t i o n s w h i c h h a d b e e n e v a l u a t e d a n d p r i o r i t i z e d . O n e c o n s u l t a n t w a s a s s i g n e d t h e
e v e n n u m b e r e d l o c a t i o n s a n d t h e o t h e r t h e o d d n u m b e r e d . D u r i n g d i s c u s s i o n s w i t h
p r o p e r t y o w n e r s o t h e r l e a d s d e v e l o p e d w h i c h e a c h c o n s u l t a n t p u r s u e d o n t h e i r o w n .
T h e p r o c e s s o f s e l l i n g p a r k - n - r i d e t o p r i v a t e p r o p e r t y o w n e r s a n d n e g o t i a t i n g a l e a s e
a g r e e m e n t i s v e r y l a b o r i n t e n s i v e . F o r i n s t a n c e , i f t h e p r o p e r t y i s a m u l t i p l e t e n a n t s i t e ,
t h e p r o p e r t y o w n e r / m a n a g e r m u s t s e e k a p p r o v a l f r o m a l l t e n a n t s o r i f i t i s a s i n g l e t e n a n t
s i t e o f a c h a i n s t o r e , t h e c o r p o r a t e o f f i c e m u s t a l s o a p p r o v e t h e a g r e e m e n t . O v e r t h e o n e
y e a r c o n t r a c t p e r i o d , t h e f o l l o w i n g h a s b e e n a c c o m p l i s h e d :
S i g n e d U n d e r
C o n s u l t a n t A g r e e m e n t s N e g o t i a t i o n
I n l a n d T r a n s p o r t a t i o n S e r v i c e s :
I n d i a n P l a z a
O r t e g a M a r k e t
L a S i e r r a U n i v e r s i t y
G r a c e B i b l e C h u r c h
C h i e f A u t o P a r t s
T O T A L
5 0 s p a c e s
2 0 s p a c e s
1 0 0 s p a c e s
5 0 s p a c e s
2 2 0 s p a c e s
3 0 s p a c e s
3 0 s p a c e s
Page Two
September 5, 1991
Measure A Lease Park-N-Ride Program
Stevens/Garland Associates:
Canyon Springs Plaza
Riverside Plaza
University of Riverside
TOTAL
0 spaces
75 spaces
75 spaces
100 spaces
250 spaces
A review of park-n-ride activities by Ca!trans and RCTC provides a perspective of existing
conditions and future potential:
Existing permanent spaces 755
Future permanent spaces (near term) 1,495
Signed lease spaces 220
Lease spaces under negotiation 1,430*
TOTAL 3,900
* Includes County of Riverside and Ken Calvert Realty properties on Pacific
Palisades.
To maintain flexibility in responding to changing developments as new park-n-ride sites
come on-line, staff recommends that the existing two consultant agreements be extended
for a one year period to allow completion of existing negotiations. Staff would then elect
to assign new locations to one or both of the consultants on an as needed basis. Both
consultants have agreed to maintain the existing $65.00 per hour rate.
STAFF RECOMMENDATION:
That the Commission approve, subject to review by Legal Counsel, amendment of the
existing contracts for services with Inland Transportation Services and Stevens/Garland
Associates, Inc. for the period from August 15, 1991 to August 15, 1992 at an hourly rate
not to exceed $65.00/hour.
MW:sc
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A G E N D A I T E M # 9
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R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t & F i n a n c e C o m m i t t e e
F R O M : H i d e o S u g i t a , A s s i s t a n t D i r e c t o r o f P l a n n i n g a n d P r o g r a m m i n g
T H R O U G H : J a c k R e a g a n , E x e c u t i v e D i r e c t o r
S U B J E C T : T r a n s i t I n t e g r a t i o n P l a n f o r t h e U n i o n P a c i f i c C o m m u t e r R a i l S e r v i c e
P r o p o s i t i o n 1 1 6 g u i d e l i n e s r e q u i r e a p p l i c a t i o n s f o r P r o p 1 1 6 b o n d f u n d s b e a c c o m p a n i e d
b y a t r a n s i t i n t e g r a t i o n p l a n f o r t h e r a i l s e r v i c e . S t a f f i s w o r k i n g w i t h c o n s u l t a n t s ( C a r l
S c h i e r m e y e r , B o o z , A l l e n & H a m i l t o n ) t o d e v e l o p a s c o p e o f w o r k a n d c o s t p r o p o s a l f o r
p r o d u c i n g t h e t r a n s i t i n t e g r a t i o n p l a n .
S t a f f i s p r o p o s i n g t o i n v o l v e B o o z , A l l e n & H a m i l t o n d u e t o t h e " E x p r e s s B u s C o m m u t e
O p t i o n C o s t a n d R i d e r s h i p S k e t c h P l a n A n a l y s i s " t h e y p r o d u c e d e a r l i e r t h i s y e a r . S t a f f
r e c o m m e n d s t h e u s e o f t h e f i n d i n g s a n d r e c o m m e n d a t i o n s o f t h e r e p o r t a s a s t a r t i n g
p o i n t t o d e v e l o p t h e t r a n s i t i n t e g r a t i o n p l a n f o r t h e U n i o n P a c k l i n e c o m m u t e r r a i l
s t a t i o n s i n R i v e r s i d e C o u n t y .
S t a f f w i l l b e w o r k i n g w i t h t h e c o n s u l t a n t s t o d e v e l o p t h e s c o p e o f w o r k a n d c o s t p r o p o s a l
f o r p r o d u c i n g t h e p l a n a n d p r e s e n t i t t o t h e C o m m i s s i o n a t t h e S e p t e m b e r 1 1 , 1 9 9 1
m e e t i n g .
S T A F F R E C O M M E N D A T I O N :
T o b e p r e s e n t e d a t t h e S e p t e m b e r 1 1 , 1 9 9 1 R C T C m e e t i n g .
H S : s c
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A G E N D A I T E M # 1 0
"
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
September 5, 1991
TO: Administrative Committee
Budget & Finance Committee
FROM: Jack Reagan, Executive Director
SUBJECT: Additional Contract Revision for Morrison-Knudsen for ATSF Rail
Negotiations
The Joint Offer Committee, responsible for coordinating negotiations with Santa Fe for
acquisition of rights -of -way and use rights, wishes to again use RCTC contract with
Morrison-Knudsen Engineers as the mechanism for additional needed analysis. In
general, the analysis would measure the impact of potentially shifting some commuter
and freight services from the San Bernardino Subdivision to other rail lines, including the
Union Pack.
Estimated costs for the additional work would be approximately $42,000; the scope of
work has not yet been received but should be available for the RCTC agenda packet.
The other agencies involved with the negotiations would share in the costs on a prorata
basis, so RCTC's actual costs should be approximately 25% - 20% if San Diego County
agrees to pay its share. Orange County has proposed to offset its "owed" funds for such
analysis with full funding of a Riverside/Orange County Commuter Rail Implementation
Study. With such an offset, RCTC's share could range from 40% to 50% of the costs.
STAFF RECOMMENDATION:
That the Commission: (1) authorize the Executive Director to execute the contract
amendment in the amount of $42,000; and (2) work with other participants of the Joint
Offer Committee to seek reimbursement of appropriate costs; OCTA and RCTC may
arrange for offsets as described above.
JR:sc
"
"
"
A G E N D A I T E M # 1 1
"
"
R I V E R S I D E C O U N T Y T R A N S P O R T A T I O N C O M I V I I S S I O N
S e p t e m b e r 5 , 1 9 9 1
T O : A d m i n i s t r a t i v e C o m m i t t e e
B u d g e t & F i n a n c e C o m m i t t e e
F R O M : H i d e o S u g i t a , A s s i s t a n t D i r e c t o r o f P l a n n i n g a n d P r o g r a m m i n g
T H R O U G H : J a c k R e a g a n , E x e c u t i v e D i r e c t o r
S U B J E C T : F Y 1 9 9 2 - 9 3 T r a n s i t C a p i t a l I m p r o v e m e n t P r o g r a m P r o j e c t A p p l i c a t i o n
T h e F Y 1 9 9 2 - 9 3 T r a n s i t C a p i t a l I m p r o v e m e n t ( T C I ) P r o g r a m p r o j e c t a p p l i c a t i o n s a r e d u e
t o t h e C a l i f o r n i a T r a n s p o r t a t i o n C o m m i s s i o n a n d C a l t r a n s b y O c t o b e r 1 , 1 9 9 1 . I n o r d e r
t o m e e t t h e s u b m i t t a l d e a d l i n e , s t a f f i s r e q u e s t i n g C o m m i s s i o n a u t h o r i z a t i o n t o f i l e a n
a p p l i c a t i o n f o r l a n d a c q u i s i t i o n , d e s i g n , e n g i n e e r i n g a n d c o n s t r u c t i o n o f c o m m u t e r r a i l
s t a t i o n s ( 2 ) i n R i v e r s i d e c o u n t y f o r t h e c o m m u t e r r a i l s e r v i c e t o b e r u n o n t h e U n i o n
P a c i f i c r a i l l i n e .
S t a f f w i l l b e w o r k i n g w i t h C a r l S c h i e r m e y e r a n d B e c h t e l t o d e v e l o p c o s t e s t i m a t e s f o r t h e
s t a t i o n s w h i c h w i l l p r o b a b l y b e i n t h e r a n g e o f $ 1 0 t o $ 1 2 m i l l i o n t o t a l . A s y o u w i l l r e c a l l ,
t h e T C I p r o g r a m p r o v i d e s s t a t e p a r t i c i p a t i o n o n a 5 0 / 5 0 m a t c h i n g b a s i s , t h e r e f o r e , t h e
C o m m i s s i o n w i l l b e r e q u i r e d t o p l e d g e u p t o $ 5 o r $ 6 m i l l i o n i n M e a s u r e " A " f u n d s .
S t a f f e s t i m a t e s , g i v e n d i r e c t i o n f r o m t h e J P A s t a f f t h a t 2 s t a t i o n s w i l l b e r e q u i r e d i n
R i v e r s i d e C o u n t y f o r t h e s e r v i c e o n t h e U n i o n P a c i f i c r a i l l i n e . O n e w i l l b e l o c a t e d i n t h e
d o w n t o w n a r e a ( c o n s i s t e n t w i t h t h e s t a t i o n i d e n t i f i e d i n e a r l i e r r e p o r t s " R i v e r s i d e - O r a n g e
C o u n t y C o m m u t e r R a i l F e a s i b i l i t y A s s e s s m e n t " a n d M o r r i s o n - K n u d s e n T a s k 2 R e p o r t
" C o n v e n t i o n a l C o m m u t e r R a i l ' ) . T h e o t h e r w i l l b e l o c a t e d e i t h e r a t l i m o n i t e a n d V a n B u r e n
o r B e l l e g r a v e / G a l e n a a n d V a n B u r e n .
S T A F F R E C O M M E N D A T I O N :
A u t h o r i z e s t a f f t o p r o c e e d i n d e v e l o p i n g a n d s u b m i t t i n g a n F Y 1 9 9 2 - 3 T C I a p p l i c a t i o n f o r
l a n d a c q u i s i t i o n , e n g i n e e r i n g , d e s i g n a n d c o n s t r u c t i o n o f s t a t i o n s f o r t h e c o m m u t e r r a i l
s e r v i c e t o b e r u n o n t h e U n i o n P a c i f i c l i n e . A d d i t i o n a l l y , a u t h o r i z e a c o m m i t m e n t o f
M e a s u r e " A " f u n d s t o m e e t T C I p r o g r a m m a t c h i n g r e q u i r e m e n t s .
H S : s c
AGENDA ITEM #12
September 5,
TO:
FROM:
THROUGH:
SUBJECT:
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
1991
Administrative Committee
Budget & Finance Committee
Dean Martin, Controller
Hideo Sugita
Jack Reagan, Executive Direc :or
JPA Commuter Rail Budget
In the original budget submitted to the Commission by the Interim Rail Joint Powers
Authority, the Commission approved certain portions of the budget relating to staffing and
direct costs. The total of these costs approved at the time were $628,200 which was
included in the Commission's approved 91/92 budget. Additionally as part of the budget,
the Commission authorized $2,100,000 for the procurement of equipment. The
Commission withheld approval on all other items(i.e., maintenance facility and insurance
costs) in the JPA Rail budget pending the outcome of negotiations with Santa Fe.
Since that time several developments have occurred which require a second look at the JPA
Rail budget. The imminent deal with Union Pacific is making commuter rail a reality.
Negotiations have resumed with Santa Fe with some progress being made(although there
is still a wide difference between our proposal and Santa Fe's) that moves us closer to
establishing a commuter rail line to Orange County. With these events occurring, it would
be advisable to reconsider the portions of the rail budget previously not approved. That
original budget included $2,580,000 for the Taylor Yard maintenance facility and $179,100
for insurance costs for which Commission approval was withheld. These items were not
included in the Commission's budget for fiscal year 91/92. However, it should be noted
that the fiscal year 91/92 budget was approved with a surplus of almost $60,000,000.
We have just received a revised 91/92 JPA rail budget which includes an increase of
$31,200 for staffing, startup, and direct costs. This change is based on more current data
available to the JPA staff and is represents a less than 5% increase from the original budget
estimate of 628,200. LACTC has further informed us that there were costs incurred for
fiscal year 90/91 which they have paid in full and for which they will be requesting
proportionate reimbursement from the Commission. Those costs are for consultants,
primarily DeLeuw Cather who serves essentially as the rail project manager. Our share of
those costs amounts to $35,510. Commission staff recommends approval of the additional
funding needed.
Page Two
September 5, 1991
JPA Commuter Rail Budget
STAFF RECOMMENDATION:
Approve the JPA Rail budget in its entirety for a total amount not to exceed 5,518,600 and
the prior year costs for a total of approximately $35,510.
HS:sc
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