Chicago Transit Authority Board Finance Audit and Budget Committee met Dec. 13.
Here is the minutes provided by the Committee:
ROLL CALL: Present: Committee Chairman Silva, Irvine, Peterson, Youngblood, Miller, and Alva Rosales.
There was a quorum of six committee members present.
COMMITTEE ACTION: The committee reviewed the Finance report and approved the November 13th, 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 adopting a budget for Calendar Year 2018 and financial plan for Calendar Years 2019—2020.
2 An ordinance approving the fiscal year 2018-2022 Capital Improvement Program and authorizing the filing and execution of grant and cooperative agreements and the amendments and related materials.
3 An ordinance authorizing implementation of fare structure revisions.
4 An ordinance authorizing an intergovernmental agreement with the City of Chicago to provide ground transportation taxes to the Authority for capital expenditures.
5 An ordinance authorizing the establishment of a short-term borrowing program for operating purposes secured by sales tax receipts; authorizing the issuance, from time to time, of obligations secured by sales tax receipts in a principal amount outstanding at any one time not in excess of $25,000,000 pursuant to such short-term borrowing program; and authorizing the execution and delivery of one or more supplemental indentures under which such obligations are issued.
6 An ordinance authorizing an intergovernmental agreement with the County of Cook, Illinois for the Sheriff of Cook County to provide grounds keeping and maintenance work on Authority property.
7 An ordinance authorizing a lease of property located at 350 North Orleans Street, Chicago, Illinois.
8 An ordinance authorizing the lease of property located at 1130 West Lawrence Avenue for Red and Purple Modernization Project.
9 Contract Number B17OP00006: $375,000.00
10 Contract Number B17OP02028R: $500,000.00
11 Contract Number B16OP01851R3: $625,000.00
12 Contract Number B17OP00192: $2,862,899.81
13 Contract Number B14OP04370H: $84,000.00
14 Contract Number B17OP04195: $3,600,000.00
MOTION TO ADJOURN: Chairman Silva asked for a motion to adjourn the Finance, Audit, and Budget committee meeting of December 13th, 2017. After the motion was moved, the motion was approved by unanimous voice vote.
http://www.transitchicago.com/assets/1/agendas_minutes/FAB_Minutes_-_12_13_17.pdf
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