Chicago Transit Authority Board Finance Audit and Budget Committee met May 9.
Here is the minutes provided by the Committee:
Roll Call: Present: Committee Chairman Silva, Irvine, Peterson, Miller, Alva Rosales, Youngblood. There was a quorum of six committee members present.
Committee Action: The committee reviewed the Finance report and approved the April 18th, 2018 committee minutes. The committee also deferred to the June meeting, the Independent Auditors Report.
Then, after extensive review by the committee, Chairman Silva asked for a motion to place all 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 approved items are as follows:
1 An ordinance authorizing the establishment of a short-term borrowing program for capital purposes secured by sales tax receipts and/or certain IGA revenues; authorizing the issuance, from time to time, of obligations secured by such revenues in aggregate principal amount outstanding at any one time not in excess of $150,000,000.00 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.
2 An ordinance authorizing a lease of retail space and license agreements for basement space and adjacent property located at 4620 North Broadway Street, Chicago, Illinois (Wilson-Red Line)
3 An ordinance authorizing an intergovernmental agreement with the Regional Transportation Authority for Ventra cards for RTA’s Special Fare Programs.
4 An ordinance authorizing a lease of concession space located at 2523 North Kedzie Boulevard, Chicago, Illinois (Blue Line)
5 An ordinance authorizing an intergovernmental agreement with the City of Chicago through its Office of Emergency Management and Communications, for security camera maintenance and installation services.
6 Contract Number B14OP03283: $17,500.00
7 Contract Number B17OP00750: $584,447.00
Motion To Adjourn: Chairman Silva asked for a motion to adjourn the Finance, Audit, and Budget committee meeting of May 9th, 2018. After the motion was moved, the motion was approved by unanimous voice vote.
https://www.transitchicago.com/assets/1/21/FAB_Minutes_-_5.9.8.pdf?20586
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