Chicago Transit Authority Board of Finance Audit and Budget Committee met June 14.
Here is the minutes provided by the Committee:
Agenda: The posted agenda for the meeting can be found at www.transitchicago.com, “About CTA”,
“Transit Board Meetings”, “Meeting Notices, Agendas, and Minutes”, “6/14/2017”, “Committee on Finance Audit, and Budget”, “Agenda”.
Roll Call: Present: Committee Chairman Silva, Irvine, Peterson, Alva Rosales, Youngblood, Miller.
There was a quorum of six committee members present.
Committee Action: The committee reviewed the Finance report and approved the May 10th, 2017 committee minutes.
Then, after extensive review by the committee, Chairman Silva asked for a motion to place the
recommended approved items on the omnibus for Board approval. The recommended items included all agenda items.
After the motion was moved and seconded, the motion was approved with six yes votes. The recommended omnibus contained the following items:
1 An ordinance authorizing the execution and delivery of one or more supplemental indentures under which the Chicago Transit Authority may issue one or more series of obligations for refunding purposes with an aggregate principal amount not to exceed $290,000,000 secured by a pledge of Capital Grant Receipts from the 5307 Urbanized Area Formula Funds and 5337 State of Good Repair FTA program.
2 An ordinance authorizing a co-promotional agreement with the City of Chicago through its Department of Fleet and Facility Management.
3 An ordinance authorizing a lease of retail concession space and a license of the back lot located at 319 East Garfield Boulevard, Chicago, Illinois (Green Line).
4 An ordinance authorizing an intergovernmental agreement with the State of Illinois through its Department of Transportation to access geographic information system data.
5 An ordinance authorizing a sublease of a portion of 120 North Racine Avenue, Chicago, Illinois.
6 An ordinance authorizing the purchase of primary and excess property insurance coverage for Policy Year 2017-2018
7 Contract Number B13OP04274: $30,000.00
8 Contract Number B17OP00439: $353,177.00
9 Contract Number B14OP00638: $200,000.00
10 Contract Number B16OP00894: $1,415,000.00
11 Contract Number C17FI101924977: $698,730.20
12 Contract Number C17FT101957232: $14,500,000.00
13 Contract Number B14OP03786: $2,146,284.84 (6 month time extension)
14 Contract Number B10FR04032: $222,000.00 (6 month time extension)
15 Contract Number B17OP00189: $1,350,000.00
Motion to Adjourn: Chairman Silva asked for a motion to adjourn the Finance, Audit, and Budget committee meeting of June 14th, 2017. After the motion was moved, the motion was approved by unanimous voice vote.
http://www.transitchicago.com/assets/1/agendas_minutes/FAB_Minutes_-_6_14_17.pdf
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