1 / 7

Modifying Measure A’s Borrowing Limit July 14, 2010

Modifying Measure A’s Borrowing Limit July 14, 2010. Measure A Legal Details. Comparing the Limits. Current Situation. $180 million of debt limit utilized Delivery Plan restructured Numerous projects nearing construction Favorable interest rates & bids Opportunity to create jobs.

margaret-duke
Download Presentation

Modifying Measure A’s Borrowing Limit July 14, 2010

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Modifying Measure A’s Borrowing LimitJuly 14, 2010

  2. Measure A Legal Details

  3. Comparing the Limits

  4. Current Situation • $180 million of debt limit utilized • Delivery Plan restructured • Numerous projects nearing construction • Favorable interest rates & bids • Opportunity to create jobs

  5. Proposal GOAL: Increase limit to provide flexibility without sacrificing prudence or oversight • $975 million limit – slightly less than 25% of projected revenue total • Higher limit does not result in immediate action – Commission approval of all financings are maintained

  6. Costs • RCTC must reimburse county • 2002 cost was $372,000 • Election costs are Measure A eligible • Private sector financed campaign still needed

  7. Next Steps • Communicate ballot measure to Supervisors • Obtain vote from Supervisors - July 27 or at special meeting • Seek voter approval in November

More Related