FC011315 RESOLUTION NO. 15-31...M:\Board\Resolutions\2015RES\R15-31 Annual Policies.docx Page 3 of 4 Training and Business Expense Reimbursement Policy as presented in Attachment 6;

$Page 1: FC011315 RESOLUTION NO. 15-31...M:\Board\Resolutions\2015RES\R15-31 Annual Policies.docx Page 3 of 4 Training and Business Expense Reimbursement Policy as presented in Attachment 6;$
FC011315 RESOLUTION NO. 15-31

M:\Board\Resolutions\2015RES\R15-31 Annual Policies.docx Page 1 of 4

RESOLUTION APPROVING THE REVISED RULES OF ORDER; THE REVISED DEBT,

FISCAL, INVESTMENT AND PROCUREMENT POLICIES; AND THE REVISED TRAVEL,

CONFERENCE, TRAINING AND BUSINESS EXPENSE REIMBURSEMENT POLICY

WHEREAS, The Transportation Authority develops and implements policies and

procedures to organize and formalize agency activities, and to ensure compliance with current

statutes and Transportation Authority objectives; and

WHEREAS, It is Transportation Authority direction to review its Debt Policy annually, to

maintain prudent debt management principles and to maximize the Transportation Authority’s debt

capacity, and its Investment Policy annually, to ensure policy language remains consistent with its

governing code, while continuing to meet the primary investment objectives of safety of principal,

liquidity, and a return on investment consistent with both the risk and cash flow characteristics of

the Transportation Authority’s portfolio; and

WHEREAS, While the Transportation Authority is not required to review its Fiscal and

Procurement Policies, it is good management practice to do so on a regular basis, and

WHEREAS, The Rules of Order establish procedures to ensure that Board and Committee

meetings are conducted in a clear and efficient manner, and in compliance with current statutes and

Transportation Authority policies and objectives; and

WHEREAS, The Debt Policy’s purpose is to organize and formalize debt issuance-related

policies and procedures; and

WHEREAS, The Fiscal Policy guides decisions pertaining to internal fiscal management,

including day-to-day operations, annual budget development and sales tax revenue allocation

requirements; and

WHEREAS, The Investment Policy reflects the requirements in state and federal law



regarding the administration of investments by public agencies, and establishes rules for the

investment of all funds directly administered by the Transportation Authority; and

WHEREAS, The Procurement Policy guides the decisions pertaining to procurement,

including the modes, methods and procedures for acquiring the materials, equipment and services

necessary to carry out the operations of the Transportation Authority; and

WHEREAS, The Travel, Conference, Training and Business Expense Reimbursement

Policy establishes a set of policies relating to travel, conference, training and business expenses, and

establishes procedures for reimbursement of commissioners and employees; and

WHEREAS, With assistance and guidance from the Transportation Authority’s bond

counsel, financial advisors and legal counsel, Transportation Authority staff are updating policies to

conform to applicable law and consistent with state and local government codes; and

WHEREAS, At its January 13, 2015 meeting, the Finance Committee considered the subject

request and unanimously recommended approval of the staff recommendation; now, therefore, be it

RESOLVED, That the Transportation Authority hereby adopts the Rules of Order as

presented in Attachment 1; and be it further

RESOLVED, That the Transportation Authority hereby adopts the Debt Policy as


RESOLVED, That the Transportation Authority hereby adopts the Fiscal Policy as


RESOLVED, That the Transportation Authority hereby adopts the Investment Policy as


RESOLVED, That the Transportation Authority hereby adopts the Procurement Policy as


RESOLVED, That the Transportation Authority hereby adopts the Travel, Conference,



Training and Business Expense Reimbursement Policy as presented in Attachment 6; and be it

further

RESOLVED, That the Executive Director is hereby authorized to communicate the policies

to all relevant parties.

Attachments (6): 1. Proposed Rules of Order2. Proposed Debt Policy3. Proposed Fiscal Policy4. Proposed Investment Policy5. Proposed Procurement Policy6. Proposed Travel, Conference, Training and Business Expense Reimbursement Policy


SAN FRAN

DRAFT

M:\Finance\201

Rule 1.1

Rule 1.2

Rule 1.3

Rule 1.4

Rule 1.5

Rule 1.6

Rule 1.7

Rule 1.8

Rule 1.9

Rule 1.10

Rule 1.11

Rule 1.12

Rule 1.13

Rule 1.14

Rule 1.15

Rule 1.16

Rule 1.17

NCISCO COUNT

5\Memos\01 Jan\Poli

As used irespective

“AdminisAdminist

“Adoptedadoption Transpor

“Transpo

“Board” Transpor

“Chair” Chair, the

“Code” sthe Trans

“Clerk” s

“Commitas standin

“Commuaddressed

“Measurethe purpoordinancestrictly pa

“Member

“Ordinanparties unand shall

“Précis” the Board

“Presidin

“Previou

“ResolutiTransporparties un

TY TRANSPORT

cies\Att 03 Draft Rules

in these Ruleely ascribed t

strative Codtrative Code.

d” in connecof such pr

rtation Autho

ortation Auth

shall meanrtation Autho

shall mean te Vice-Chair

shall mean thsportation Au

shall mean th

ttee” shall mng committee

unication” shd to the Boar

e” shall meanose of whiche, resolutionarliamentary

r” shall mean

nces” shall mnder the juriinclude but n

shall mean ad or committ

ng Officer” sh

s Question”

ion” shall mrtation Authonder the Tran

TATION AUTHO

s of Order 2015.docx

CHAPTE

es, the followto them by R

e” shall mea

ction with prroposed resoority.

hority” shall m

n the Boarority.

the Chair ofacting as Ch

he California uthority was

he Clerk of th

mean a commes.

hall mean anrd for consid

n and includeh requires actin or motion,in character.

n a member o

mean procedisdiction of not be limite

a summary otee folder.

hall mean the

shall be a cal

mean the procority which mnsportation A

ORITY

ER 1. DEFIN

wing words anRules 1.2 thro

an the San F

roposed resoolutions of o

mean the San

rd of Com

f the Transphair.

Public Utilitcreated.

he Transport

mittee of Tran

ny matter, oderation or ac

e a proposalion of the Tr, other than

of the Board

dures for estthe Transpo

ed to the Adm

of a measure

e Chair or ac

ll to end deb

cedures for may or may Authority’s ju

NITIONS

nd phrases shough 1.18.

Francisco Co

olutions or oror ordinance

n Francisco C

mmissioners

portation Au

ties Code, Se

tation Author

nsportation A

other than thction by the B

, in whatsoevransportationa motion d

d of Commiss

tablishing allortation Authministrative C

e prepared by

cting chair.

bate on a mat

establishing not be of a

urisdiction.

hall have the

ounty Trans

rdinances, shes by the Sa

County Tran

of the San

uthority or in

ection 131000

rity.

Authority, in

he measure, Board or its

ver form pren Authority bdesigned to a

sioners.

l rules of cohority and ofCode and em

y staff and p

tter.

all expressiopermanent

RULES OF OR

RESOLUTION 1

Pa

e meanings re

sportation A

hall mean anan Francisco

nsportation A

n Francisco

n the absenc

0 et seq., und

ncluding sele

in whatsoecommittees.

esented, fulfiby Code, amaccomplish a

onduct affectf a permane

mployment ru

presented as

ons of opinionature or af

RDER 15-XX

ge 1 of 14

eceptively

uthority’s

nd include o County

Authority.

o County

ce of the

der which

ct as well

ver form

illment of endment, an action

ting third ent nature ules.

a part of

on of the ffect third

SAN FRAN

DRAFT

M:\Finance\201

Rule 1.18

NCISCO COUNT

5\Memos\01 Jan\Poli

“Rules” Authority

TY TRANSPORT


shall mean y.

TATION AUTHO


the Rules o

ORITY

of Order off the San FFrancisco Co

RULES OF OR

RESOLUTION 1

Pa

ounty Trans

RDER 15-XX

ge 2 of 14

sportation

SAN FRAN

DRAFT

M:\Finance\201

Rule 2.1

Rule 2.2

Rule 2.3

Rule 2.4

Rule 2.5

Rule 2.6

Rule 2.7

NCISCO COUNT

5\Memos\01 Jan\Poli

Adoption oan affirmsuch RulChair or of order

Suspensiolaws and the affirmpresent, i(6) shall b

AmendmenCommitt

ParliamentChair sha

Organizationewly eleand Vicimmediatthe Code

Meetings aconforma[SectionsFranciscoResolutioBusiness TransporTransporSuperviso2003 as P

Except aat 11:00 aHoweverday. Com

*The act131263 o

*All meeBrown Athe Gove

Temporaryshall desi

TY TRANSPORT


CHAPT

of Rules of Ordmative recordles shall remcommittee cin the Board

n of Rules. Ewhich are d

mative vote in which casebe required. A

nt to Rules. Altee for consid

tary Authority. all issue a ruli

on and Electioected and cone-Chair of tely preside fe).

and Rules of Pance with th

s 131000 et so County Tron 486-03 (

and Tax Rrtation Authrtation Expeors ResolutioProposition K

as otherwise a.m. on the fr, when that

mmittee meet

ts of the Boof the Code).

etings of the Act (Chapter ernment Cod

y Meeting Placignate some o

TATION AUTHO


TER 2. OR

der. The Ruleded vote of a

main in effectchair may adod meeting.

Except this rudesignated in

of eight (8)e the unanimA motion to

ll proposed aderation and

On any queing.

on of Chair. Antinuing memthe Transp

following his

Procedures. *Ahe provisionsseq. of Divisransportation(Article 14, Regulations ority’s Admienditure Plaon 485-03 ofK.

determined bfourth Tuesdday is a hol

tings shall be

oard shall be

Board shall 9 commenci

de) and the T

ce. In the evother approp

ORITY

RGANIZATION

es of Order (a majority oft unless suspopt temporar

ule and Rulethese Rules

) members umous consent

suspend the

amendmentsrecommend

estion or poi

Annually at thmbers of the portation Aus or her elec

All proceedin of the Bay Asion 12.5 of n ReauthorizcommencingCode of thinistrative Cn for San f the Board o

by the Boardday of each mliday, the me held in Roo

e expressed

be conducteng with Sect

Transportatio

vent of the repriate place a

N AND MEE

(Rules) shall f the membepended or ary rules to ad

es which areby an asteri

unless there t of the meme rules is not

s to the Ruledation to the

int of order

he first mee Board of Couthority. Thction at the s

ngs of the TrArea Trafficthe Californ

zation Authg with Sect

he City and Code, and th

Francisco aof Superviso

d, regular memonth in the eeting shall bom 263 of Cit

by motion,

ed in the mation 54950 ofon Authority’

egular meetias its tempora

ETINGS

be adopted ers of the B

amended as pddress a spec

e restatementsk, any rule be less tha

mbers presentdebatable.

es shall be reBoard for ad

not containe

ting of the Bommissioner

he newly apsame meetin

ransportationc and Transpnia Public Utority Ordination 1401 o

County of he Transportadopted togeors by the vo

eetings of thLegislative C

be held on thty Hall.

resolution o

anner prescrif Part 1 of D’s adopted Su

ing place is uary meeting p

RULES OF OR

RESOLUTION 1

Pa

by motion cBoard. When

provided hecific situation

ts of other amay be susp

an eight (8) t, but not les

eferred to thedoption.

ed in these R

Board in Janrs shall elect ppointed Chng (Section 1

n Authority sportation Funtilities Code]ance, as ame

of the San FSan Franci

tation Authoether with Boters on Nov

he Board shalChamber of he following

or ordinance

ibed by the Division 2 of unshine Polic

unavailable, tplace.

RDER 15-XX

ge 3 of 14

carried by adopted,

rein. The n or point

applicable pended by

members s than six

e Finance

Rules, the

nuary, the the Chair

hair shall 131260 of

shall be in nding Act ], the San ended by Francisco isco), the

ority New Board of vember 4,

ll be held City Hall.

g business

e (Section

Ralph M. Title 5 of cy.

the Chair

SAN FRAN

DRAFT

M:\Finance\201

Rule 2.8

Rule 2.9

Rule 2.10

Rule 2.11

Rule 2.12

Rule 2.13

Rule 2.14

Rule 2.15

NCISCO COUNT

5\Memos\01 Jan\Poli

Special Mcalled, su

AttendancerespectivBoard ormembers

*Quorum. Aof busineof a majo

Rights of tpresentedcall of th

Call of theone of itchair andby specia

When theor Roommember

During abusiness matter in

Permissionsession if

*Power anpowers a

To pre

To apTransp

To de

To siAutho

To pAutho

The ViceChair (Se

Permissionpower an

TY TRANSPORT


Meetings of theubject to the R

e at Meetingve seats at thr one of its s and shall re

A majority oess, and all oority of the m

the Members d and no offe Board or c

Board or Coms committee

d be broughtal messengers

e Board or om 263 withois excused.

a call of themay be trans

n connection

n to Leave Meef the departu

nd Duties of Cand duties:

eside at all m

ppoint the mportation Au

cide the agen

gn contractsority; and

erform suchority.

e-Chair shall ection 3 of th

n to Remove nd duty to o

TATION AUTHO


e Board. A sRalph M. Br

s. All membe hour appocommittees.

eport such rec

of the membfficial acts of

members of th

Less Than Quoficial action ommittee, to

mmittee. Whets, those abset to the Legis appointed f

one of its comout an annou

Board or osacted as usuwith which t

eting. No meure would cau

Chair and Vice

meetings;

embership authority, exce

nda of Board

s, deeds, an

h additional

perform thhe Administr

Disruptive Peorder remove

ORITY

special meetiown Act, by

bers of the ointed for eac The Clerk cord in the m

ers of the Bof the Transpohe Board (Se

orum. In the shall be take

o reschedule

ther there beent membersslative Chamfor the purpo

mmittees is uuncement fr

one of its coual, except ththe call was m

ember shall leuse the loss o

e-Chair of the

nd the cChaept for the Ci

d meetings;

nd other ins

duties as

e duties of tative Code).

ersons. The Bed from the

ing of the Bthe Chair.

Transportach regular, sshall keep a

minutes.

oard constituortation Authection 13126

absence of aen by the methe same me

e a quorum os shall be sen

mber or to Roose.

under call, norom the Ch

ommittees, what no actionmade.

eave the Boaof a quorum.

Board. The

air and vViceitizens Advis

struments o

may be de

the Chair in

Board or comeeting roo

Board of Co

ation Authorspecial or reca record of t

utes a quoruthority requir2 of the Cod

a quorum noembers preseeting, to rec

or not, upon nt for by theoom 263 for

o member shhair or comm

when there in shall be take

ard or comm

Chair shall p

e-Cchair of tsory Commit

on behalf of

esignated by

the absence

ommittee Chom any pers

RULES OF OR

RESOLUTION 1

Pa

ommissioners

rity shall becessed meetinthe attendan

um for the trre the affirmade).

o informationent except toess or to adjo

a call of the e Board or cor committee

hall leave the mittee Chair

is a quorumen with respe

mittee meeting

possess the

the committettee;

f the Trans

y the Trans

e or incapaci

hair shall poon who com

RDER 15-XX

ge 4 of 14

s may be

e in their ng of the ce of the

ransaction ative vote

n may be o order a ourn.

Board or ommittee meetings

Chamber that the

m present, ect to the

g while in

following

ees of the

sportation

sportation

ity of the

ossess the mmits the

SAN FRAN

DRAFT

M:\Finance\201

NCISCO COUNT

5\Memos\01 Jan\Poli

followingcommitte

Disordermember

A breachdue and o

Disobediseated or

Any othe

Any perswhich remvote of tenforcem

Any law services given by or comm

In additiohas violalaw enfoSection 4shall caupresiding

TY TRANSPORT


g acts in respee:

rly, contempthereof, tend

h of the peacorderly cours

ience of any r to refrain fr

er unlawful in

son so remomoved, unlethe Board o

ment officer o

enforcementare requestethe presidin

mittee meeting

on to effectinted the order

orcement off403 or Sectiouse such persg officer.

TATION AUTHO


pect to a regu

tuous or insding to interr

ce, boisterouse of said me

lawful order rom addressin

nterference w

oved shall bess permission

or committeeor officers up

t officer or od by the preg officer for g.

ng removal or and decoruficer or officon 415 of thson to be pr

ORITY

ular or specia

solent behavrupt the due

us conduct oeeting;

of the presidng the Board

with the due a

e excluded fn to attend be, and such pon being so

officers on duesiding officthe purpose

of any personum of any mcers to place California rosecuted th

al meeting of

vior toward and orderly c

or violent dis

ding officer, d or committ

and orderly c

from furtherbe granted upexclusion sh requested by

uty and in atcer shall carre of maintain

n who, in themeeting, such

e such persPenal Code,

herefore, the

f the Board o

the Board ocourse of sai

sturbance ten

which shall itee, and

course of sai

r attendance pon motion ahall be effecy the presidin

ttendance at try out all orn order and d

e opinion ofpresiding ofon under ar, or any othecomplaint t

RULES OF OR

RESOLUTION 1

Pa

or a standing

or committeid meeting.

nding to inte

include an or

d meeting.

at the meetadopted by a

cted by attenng officer.

the meeting rders and insdecorum at t

f the presidinfficer may rerrest for vioer applicableto be signed

RDER 15-XX

ge 5 of 14

g or select

ee or any

errupt the

rder to be

ting from a majority ndant law

or whose structions the Board

ng officer, quest any

olation of e law, and d by such

SAN FRAN

DRAFT

M:\Finance\201

Rule 3.1

Rule 3.2

Rule 3.3

Rule 3.4

Rule 3.5

Rule 3.6

NCISCO COUNT

5\Memos\01 Jan\Poli

Call to Ordregular, adafter the Authority of those mcall and thabsence o(15) minushall elect the author

Order of Bu

1. Roll C

2. Appr

3. Chair

4. Execu

5. Cons

6. Old B

7. Intro

8. Publi

9. Adjou

Addressing rise in plrecognizedMembers

Member EnBoard, the

The commcommitteepresentati

CalendarAgreview andmay requecommitteerefer the ibe schedu

Calling of grouped)

TY TRANSPORT


CHAP

er and Roll Cdjourned, reccall to orderand shall re

members prehose absent.

of both the Cutes from the

one of theirrity of the Ch

usiness. The n

Call

roval of Minu

r’s Report

utive Directo

ent Agenda

Business

duction of N

ic Comment

urnment

the Board. Wlace or raised shall proceshall not be

ntitled to Floor.e presiding o

mittee chair,e, shall be acon concernin

enda. Prior d finalize witest of the Che meeting thissue to com

uled.

Items. The Cwhen the qu

TATION AUTHO


TER 3. BOAR

all. The Chacessed or sper, the Clerk cord those mesent as well In the abseChair and the scheduled or members tohair. The pre

normal Orde

utes

or’s Report

New Items

When a membe his or hereed to speakrecognized w

. When two fficer shall d

, or in his ccorded priong any matte

to preparatioth the Chair hair in writinhat an item b

mmittee withi

Chair shall duestion is call

ORITY

RD RULES A

air shall presiecial meetingshall call the

members preas those me

ence of the Che Vice- Chaonset of the

o act as Chairesiding office

r of Business

ber desires tr microphonk, confining when away fr

(2) or more mdesignate the

or her abseority in addrer submitted t

on of the call matters t

ng ten (10) bbe included on a reasonab

decide whethled, unless a

AND PROCED

ide at all Bog to order at e roll of the

esent and shaembers who Chair, the Viair, the memmeeting, by

r pro temporer shall proce

s for the Boa

to address thne, address discussion to

rom their sea

members arimember wh

nce or forbessing the Boto the Board

calendaragento be considebusiness dayson the calenble time or a

her items mamember req

DURES

oard meetingthe appoint

e members oall enter in tharrive subse

Vice-Chair shmbers presenty an order enre, who, whileed with the O

ard shall be a

he Board, thethe presidino the questioats.

ise at the samo is entitled t

bearance anooard for the d by the comm

da, the Exeered at the ms prior to the

ndaragenda. Tadvise the me

ay be acted quests that th

RULES OF OR

RESOLUTION 1

Pa

gs, and shall ted hour. Immof the Transhe minutes thequent to theall preside ant after waitinntered in thele so acting, sOrder of Bus

as follows:

e member shng officer, aon before th

me time to adto the floor.

other membepurpose of

mittee.

ecutive Direcmeeting. Anye scheduled The Chair shember why i

upon individhey be separa

RDER 15-XX

ge 6 of 14

call each mediately

sportation he names e first roll nd in the ng fifteen e minutes, shall have siness.

hall either and when he Board.

ddress the

er of the making a

ctor shall y member Board or

hall either it will not

dually (or te.

SAN FRAN

DRAFT

M:\Finance\201

Rule 3.7

Rule 3.8

Rule 3.9

Rule 3.10

Rule 3.11

Rule 3.12

Rule 3.13

Rule 3.14

Rule 3.15

NCISCO COUNT

5\Memos\01 Jan\Poli

Reading Twhen thepublic the

Introductiodecide wDirector

*Measurescalendaraof the Bo(ii) by a tare presentake immposted (S

Action by Mcommittedirectivesthe line oor commTranspor

Unless ofor adoptor comm

*All othemembersCode, or

Motions tomotions acknowle

Motion Nosecond, a

Division ofdivided ifmore subeach prooffered al

Seriatim Cconnectesection owhole sha

The Previo(3) memb

TY TRANSPORT


itles. The Cle abbreviatede nature of th

on of Measurehich items sshall prepare

s Not on the agenda, the Board that an two-thirds vont, a unanim

mediate actionSection 54954

Motion. All reee, actions os to the stall of the officialmemorative rtation Autho

therwise protion the affir

mittee, there b

er motions ss of the Tranother applic

o be Stated aare to be sec

edge member

ot Required. Tall measure re

f the Questionf it includes pbstantive prooposition shalone.

Consideration. d, any mem

or paragraph all then be vo

ous Question. Tbers, and if

TATION AUTHO


lerk may read working whe measure.

es. Unless prhall be refer

e a précis of e

CalendarAgenBoard shall aemergency eote of the fuous vote of tn and that th4.2 of the Go

esolutions, orn matters wstaff of the l duty, adoptnature, and

ority’s legal c

ovided by thermative vote being present

hall require nsportation Acable law (Sec

and Secondedconded unlers as they ma

The Board secommended

n. On the depropositions oposition shaall then be c

When a meber may havmay be am

oted upon.

The previousthe motion

ORITY

ad abbreviatewill clearly e

rovided for rred to whicheach item to

nda. Before cdopt a motio

exists, as defiull membershthose membehe need to taovernment C

rdinances, pawhich concern

Transportatition of the and such othounsel, may

ese Rules, a mof at least a

t not less tha

for adoptionAuthority, excction 131262

d. The Clerkss provided

ake motions a

shall consided to the Boar

emand of anso distinct in

all remain foconsidered a

easure underve the matte

mended while

s question shcarries, its e

ed titles of mexpress to th

by the Admh committeebe considere

considering on (i) by majined in Govehip, or if lessers present, dake action arCode).

arliamentary n only the inion Authoritnnual report

her actions be accompli

motion of a majority of

an a quorum.

n the affirmacept as other

2 of the Code

k shall state for otherwisand seconds.

er, without trd by the Com

ny member, n substance

or the decisioand voted u

r debate incler considerede being cons

hall only be aeffect shall b

measures onhe members

ministrative Ce or to the Bed by the Bo

an item of jority vote ofernment Cods than two-thdetermining rose after the

actions, all rnternal functty to performt, inquires, ac

as may bished by mot

parliamentarthe member

ative vote ofrwise providee).

all motions se in these R.

the necessitymmittee.

the Chair sthat one beinons of the B

upon separat

ludes points d by section sidered, and

admitted whbe to termin

RULES OF OR

RESOLUTION 1

Pa

n the calendaand to the

Code, the CBoard. The Eoard.

business nof the full mede Section 54hirds of the that there is

e calendar ag

recommendattioning of th

m some specictions of a cee approvedtion.

ry nature shas presentof t

f a majority ed by these R

prior to deRules. The C

y for a motio

hall order a ng taken awaBoard. Whentely as if it

which are uor paragrapthe proposi

en called fornate all debat

RDER 15-XX

ge 7 of 14

ar agenda listening

hair shall Executive

ot on the mbership

4956.5; or members a need to

genda was

tions of a he Board, ific act in eremonial

d by the

all require the Board

of all the Rules, the

ebate. All Chair shall

on and a

question ay, one of n divided, has been

ultimately phs. Each ition as a

r by three te on the

SAN FRAN

DRAFT

M:\Finance\201

Rule 3.16

Rule 3.17

Rule 3.18

Rule 3.19

Rule 3.20

Rule 3.21

Rule 3.22

NCISCO COUNT

5\Memos\01 Jan\Poli

matter peshall havimmediat

It shall reprevious

The prevnow put?

WithdrawaBoard. Bconsent o

Reconsideany memquestion.

To be recvote on been ann

Rescind. Wthe same done as a

*Voting Revote for of interes87100 et

No memvote is an

*A tie vo131262 o

Vote to be membersMinutes,

Identificatidentificameasures

Dispositionreceived b

Communcalendar

Communthe Clerk

TY TRANSPORT


ending, exceve the righttely put to a v

equire a twoquestion.

vious questio?”

al of Motion. ABefore it is acof a majority

ration. Whenmber voting

corded as haany question

nounced.

When a vote meeting for

a result of the

equirements anor against it st which shalseq. of the G

mber shall be nnounced.

ote on any mof the Code).

Entered in thes who voted and the vote

ion, Filing aation. Thereas.

n of Communicby the Clerk

nications receagenda for th

nications recek at the Board

TATION AUTHO


ept that the at to close avote.

-thirds vote

on shall be p

After the mocted upon, aof the memb

n a motion hwith the p

aving voted wn, a member

has been takr any membee vote which

nd Procedure. unless prohi

ll be discloseGovernment

permitted to

matter before

e Minutes. Affor and tho

es by ayes and

nd Indexing. after, the Cl

cations. Comwhen presen

eived prior tohe next follo

eived after thd meeting.

ORITY

author or mand the que

of the memb

ut in the fol

otion has beea motion mabers present.

has been madrevailing sid

with the prevr may change

ken by the Ber to move to is impossibl

*Every memibited from v

ed (Section 1Code, and al

o vote upon

e the Board

fter the Boardse who voted noes shall b

The Clerk lerk shall m

mmunicationsnted to the T

o the printingowing Board

he printing o

mover of the estion under

bers present

llowing form

en stated, it ay be withdr.

de and carriede to move

vailing side, ine a vote bef

Board and caro rescind thale to undo.

mber present voting by ap090 et seq. oll other relev

a question u

shall be dee

d has voted ed against thebe recorded

k shall assigmaintain a leg

shall be timTransportatio

g of the calemeeting.

of the calend

measure, mr discussion

to adopt a m

m: “Shall the

shall be in trawn by the

ed or lost, itto reconsid

n order to mfore the resu

rried or lost, at vote unles

when a meapplicable law of the Govervant laws or r

until the roll i

med to be a

upon any mae question shin the minut

gn to all mgislative reco

me- stamped on Authority’

ndar agenda

ar agenda sh

RULES OF OR

RESOLUTION 1

Pa

motion or am shall there

motion callin

previous qu

the possessiomover only

t shall be in der the vote

move to reconult of the rol

it shall be ins something

asure is put fbecause of

rnment Coderegulations).

is called or b

a disapproval

atter, the namhall be entertes.

measures apord and ind

and shall be’s office.

shall be not

hall be summ

RDER 15-XX

ge 8 of 14

mendment eupon be

ng for the

uestion be

on of the with the

order for e on that

nsider the ll call has

n order at has been

forth shall a conflict e, Section

before the

l (Section

me of the red in the

ppropriate dex of all

e deemed

ed on the

marized by

SAN FRAN

DRAFT

M:\Finance\201

Rule 3.23

Rule 3.24

Rule 3.25

Rule 3.26

NCISCO COUNT

5\Memos\01 Jan\Poli

*Posting othe calenmeasure to reach Board mconsidere

In the caoutside R

Minutes. M

*Meetingsmay ordeto be disCode).

*Public Cocalendar meeting Board onmeeting Membersnumber ominutes (

TY TRANSPORT


of the Calendandar agenda to be considnotificants neeting and twed (Sections 5

se of a reschRoom 244 in

Minutes will b

to Be Public. er a meeting scussed in cl

omment. Any agenda befoshall providen items of ithat are wits of the pubof minutes as(Section 5495

TATION AUTHO


rAgenda. The to all personered, and sucnot later thatwenty-four (59454.2, 549

heduled meetiCity Hall.

be kept of ea

Every Boardto be held inosed session

member of re it is actede an opportinterest to thhin the subj

blic may adds set by the C54.3 of the G

ORITY

Clerk shall ns known orch notice sha

an seventy-tw(24) hours b

956 of the Go

ing, notice o

ach Regular a

d meeting shan the closed sn by State law

the public i on by the B

tunity for mhe public wject matter j

dress the BoChair. The ChGovernment

post the caler presumed all be initiatewo (72) hourbefore any spovernment C

of the resched

and Special m

all be open tsession for cw (Section 5

is entitled toBoard. In addembers of t

which have njurisdiction

oard for up thair may limiCode).

endar agendto be intere

ed so as to bers before anpecial meetin

Code).

duled new m

meeting by th

to the public consideration54957 et seq

o comment odition, the lathe public tonot been disof the Tranto three (3) it the total te

RULES OF OR

RESOLUTION 1

Pa

a and send aested in the e reasonably

ny regularly sng is schedu

meeting shall b

he Clerk.

except that n of matters pq. of the Gov

on any matteast item at eao directly adscussed earli

nsportation Aminutes or

estimony to t

RDER 15-XX

ge 9 of 14

a copy of particular

y designed scheduled

uled to be

be posted

the Chair permitted vernment

er on the ach Board ddress the ier in the Authority.

for such thirty (30)

SAN FRAN

DRAFT

M:\Finance\201

Rule 4.1

Rule 4.2

Rule 4.3

Rule 4.4

Rule 4.5

NCISCO COUNT

5\Memos\01 Jan\Poli

Call to Ordshall call Immediatand shall membersthose abpresiding

Order of B

1. Roll c

2. Appr

3. Cons

4. Old B

5. Intro

6. Publi

7. Adjou

Standing Cand the committe

Any memthe memresult in committe5.2 of thwith respcounted

In the evambiguouhave juris

*Committeeach year

*Chair as Nthe ChairChair shaconstitutebut not aof the coacts of tmembers

TY TRANSPORT


CHAPTE

der and Roll Ceach regular,tely after therecord thos

s present as wsent. In the

g officer shall

usiness. The

call

roval of Minu

ent Agenda

Business

duction of N

ic Comment

urnment

Committees, Gmatters to bees may be es

mber of the bers of the sa quorum ofee shall be ene Administra

pect to the Cfor purposes

vent that thus, or not stsdiction over

ee Chair. The r (Section 3 (b

Non-Voting, Exr shall serve oall serve as ae a quorum. acting as a voommittee shathe committs of the comm

TATION AUTHO


R 4. COMMIT

Call. The com, adjourned, e call to ordee members pwell as thosee absence ofl proceed wit

normal Orde

utes

New Items

eneral Rules. Tbe referred tstablished as

Board who isaid committef the Board mntitled to voative Code an

Chair, the pars of determin

he scope of tated, the Chr a particular

committee b) of the Adm

x-Officio Membon each coma voting meIn the case

oting membeall constitutetee shall reqmittee (Sectio

ORITY

TTEE RULES

mmittee chairrecesses or ser, the Clerk present and e members wf the commth the Order

er of Busines

The standingto each are provided in

is not a memee in its delib

membership ote, except thnd Rule 4.5

rticipation of ning whether

committee ahair shall detmatter.

chair will beministrative

ber. In additiommittee as a nember when

of a tie voteer, may cast te a quorum fquire the affon 5.2 if the

S AND PROC

r shall presidspecial meetink shall call thshall enter in

who arrive sumittee chair,

of Business.

ss for commi

g committeeset forth in Section 5.2 o

mber of an aberations probeing presen

hat the Chairbelow, on su

f a non-mema quorum o

assignments termine and

e appointed Code).

on to the regnon-voting, e

his or her pe in any comthe deciding for the transfirmative votAdministrati

CEDURES

de at all comng to order a

he roll of then the minuteubsequent tothe vice-cha.

ittees shall b

s of the Tranthe Admini

of the Admin

assigned comovided such pnt, however, r may vote auch matters i

mber of the cof the commit

may be condesignate w

by the Chai

gular membeex-officio mepresence is n

mmittee, the vote. A maj

saction of bute of a majive Code).

RULES OF OR

RESOLUTION 1

Pag

mmittee meetat the appoine committee es the nameso the first rolair shall pres

e as follows:

nsportation Aistrative Codnistrative Co

mmittee may participationonly membe

as provided inin committeeommittee shttee is presen

nflicting, ovewhich commi

ir at the beg

ers of each coember, excepnecessary in Chair who i

jority of the usiness and aority of the

RDER 15-XX

e 10 of 14

tings, and nted hour. members

s of those ll call and side. The

Authority de. Select

ode.

join with n does not ers of said n Section e. Except all not be nt.

erlapping, ittee shall

ginning of

ommittee, pt that the

order to is present members

all official e quorum

SAN FRAN

DRAFT

M:\Finance\201

Rule 4.6

Rule 4.7

Rule 4.8

Rule 4.9

Rule 4.10

Rule 4.11

Rule 4.12

Rule 4.13

Rule 4.14

Rule 4.15

Rule 4.16

NCISCO COUNT

5\Memos\01 Jan\Poli

Time of Mthe beginpriority. Wshall be r

Meeting Ffor meetiCommitt

CalendarAgand finali

Calling of individuaseparate.

Reading thwhen thepublic the

Introductioconsidere

*MeasurescalendaramembersSection 5the membthere is acalendar

Action by Mcommittedirective line of ocommemAuthority

Motion to committemake mo

Division ofquestion away, oneWhen divhas been

Seriatim Cconnecte

TY TRANSPORT


eeting. Everynning of his Whenever a escheduled a

Frequency. Thing at least oee which sha

genda. Prior tize with the c

Items. The ally (or group

he Titles. Thee abbreviatede nature of th

on of Measureed by the com

s Not on the agenda, the ship of the c54956.5; or (ibers are presa need to takagenda was p

Motion. All reee, actions oto the staff

official duty, morative natuy’s legal coun

be Stated. Tee shall requiotions.

f the Questiondivided if it

e or more suvided, each poffered alon

Consideration. d, any memb

TATION AUTHO


y committee or her appomeeting fall

at the discreti

he regular schonce a monall meet only

to preparatiocommittee ch

committee ped) when th

Clerk may rd wording whe measure.

es. The Execmmittee.

CalendarAgencommittee

committee thii) by the twosent, by a unke immediatposted (Secti

esolutions, orn matters wof the Tranadoption o

ure, and sucnsel, may be a

The Clerk shire a second.

n. On the det includes prubstantive prproposition sne.

When a meber may hav

ORITY

shall meet atintment, or ls on a holidion of the co

hedule of thth for each at the call of

on of a calendhair all matte

chair shall e question is

read abbreviwill clearly e

cutive Direct

nda. Before cshall adopt

hat an emergo-thirds voteanimous vot

te action andion 54954.2 o

rdinances, pawhich concernnsportation Aof the annuah other actiaccomplished

hall state all The commi

emand of anyropositions sopositions shshall then be

easure underve the matter

t the time seta majority o

day or a quoommittee cha

he standing cof the commf the Chair.

daragenda, thers to be con

decide whes called, unle

iated titles ofexpress to th

tor shall pre

considering a motion

gency exists, e of its memte of those md that the neof the Gover

arliamentary n only the in

Authority to al report, inqions as may d by motion

motions priittee chair sh

y member, tso distinct inhall remain f

e considered

r debate inclr considered

t by the Chaof the commorum does noair.

committee mmittees, exce

he Executivesidered at th

ether items ss a member

f measure onhe members

epare a préci

an item of (i) by majoras defined i

mbers, or if lemembers preseed to take arnment Code

actions, all rnternal functperform som

quiries, actioy be approve.

ior to debathall acknowle

the committen substance for the decisiand voted u

ludes points d by sections

RULES OF OR

RESOLUTION 1

Pag

air, committeittee, in thatot result, the

meetings shalept for the P

e Director she meeting.

may be actr requests tha

n the calendaand to the

is of each ite

business nority vote ofin Governmess than two-sent, determiaction arose e).

recommendattioning of thme specific aons of ceremed by Trans

te. No motioedge member

ee chair shalthat one beiion of the co

upon separate

which are us or paragrap

RDER 15-XX

e 11 of 14

ee chair at t order of e meeting

ll provide Personnel

all review

ted upon at they be

ar agenda listening

em to be

ot on the f the full ent Code -thirds of ining that after the

tions of a he Board, act in the monial or sportation

on in the rs as they

ll order a ing taken ommittee. ely as if it

ultimately phs. Each

SAN FRAN

DRAFT

M:\Finance\201

Rule 4.17

Rule 4.18

Rule 4.19

Rule 4.20

Rule 4.21

Rule 4.22

Rule 4.23

Rule 4.24

Rule 4.25

NCISCO COUNT

5\Memos\01 Jan\Poli

section owhole sha

Withdrawacommitteconsent o

Reconsideany memquestion.

To be recvote on abeen ann

Rescind. Wat the sambeen don

*Voting Revote for of interesCode Sec

No memvote is an

A tie votthat the C

Vote to beof the methe Minu

Identificatidentificameasure.

Minutes. M

*Posting ocalendar to be connotificantmeeting o54956 of

*Public Cocalendar Authoritycommittepublic to

TY TRANSPORT


or paragraph all then be vo

al of Motion. Aee. Before it iof a majority

ration. Whenmber voting

corded as haany question

nounced.

When a vote me meeting

ne as a result

equirements anor against it st which shaction 87100 e

mber shall be nnounced.

te on any maChair may br

Entered in thembers who

utes, and the v

ion, Filing aation. Therea

Minutes will b

of CalendarAgeagenda to all

nsidered, andts not later or twenty-fo

f the Governm

omment. Any agenda whi

y before it ee meeting p directly add

TATION AUTHO


may be amoted upon.

After the mois acted uponof the memb

n a motion hwith the p

aving voted wn, any memb

has been takfor any memof the vote w

nd Procedure. unless prohi

all be discloseet seq. and all

permitted to

atter before treak a tie vote

he Minutes. Afvoted for anvotes by ayes

nd Indexing. after, the Cl

be kept of ea

enda. The Clel persons knod such noticethan seventyur (24) hourment Code).

member of ich is withinis acted on

prior to adjoudress the com

ORITY

mended while

otion has ben, a motion mbers present.

has been madrevailing sid

with the prever may chan

ken by a commber to movwhich is impo

Every memibited from ved (Governml other releva

o vote upon

the committee as provided

fter the comnd those whos and noes sh

The Clerk lerk shall m

ach Regular a

erk shall posown or presue shall be inity-two (72) hrs before a sp

the public in the subjec by the comurnment shalmmittee on it

e being cons

een stated it may be withd.

de and carriede to move

vailing side, innge a vote be

mmittee and ve to rescindossible to un

mber present voting by apment Code Sant laws and

a question u

ee shall be dd in Rule 4.5

mmittee has vo voted againhall be record

k shall assigmaintain a leg

and Special m

t the calendaumed to be intiated so as tohours before pecial meetin

is entitled toct matter jummittee. In ll provide antems of inter

sidered, and

shall be in tdrawn by the

ed or lost, itto reconsid

n order to mefore the resu

carried or lod that vote u

ndo.

when a motpplicable law Section 1090 regulations).

until the roll i

deemed to be.

voted upon anst the questided in the M

gn to all mgislative reco

meeting by th

ar agenda annterested in to be reasonaa regularly

ng is schedul

o comment ourisdiction o

addition, thn opportunityrest to the p

RULES OF OR

RESOLUTION 1

Pag

the proposi

the possessioe mover only

t shall be in der the vote

move to reconult of the rol

ost, it shall beunless some

tion is put fobecause of

et seq., Gov.

is called or b

e a disapprov

any matter, thion shall be e

Minutes.

measures apord and ind

he Clerk.

nd send a cothe particularably designedscheduled coled (Sections

on any mattef the Transhe last itemy for membe

public which

RDER 15-XX

e 12 of 14

ition as a

on of the y with the

order for e on that

nsider the ll call has

e in order thing has

forth shall a conflict vernment

before the

val except

he names entered in

ppropriate dex of all

py of the r measure d to reach ommittee s 54954.2,

er on the sportation

m at each ers of the have not

SAN FRAN

DRAFT

M:\Finance\201

NCISCO COUNT

5\Memos\01 Jan\Poli

been discTransporthree (3) may limit

TY TRANSPORT


cussed earlierrtation Authominutes or

t the total tes

TATION AUTHO


r in the meeority. Membfor such num

stimony to th

ORITY

eting that arebers of the pmber of minhirty (30) min

e within the public may anutes as set bnutes (Section

subject mattaddress the by the chair. n 54954.3 of

RULES OF OR

RESOLUTION 1

Pag

ter jurisdictiocommittee fThe commi

f Governmen

RDER 15-XX

e 13 of 14

on of the for up to ittee chair nt Code).

SAN FRAN

DRAFT

M:\Finance\201

Rule 5.1

Rule 5.2

Rule 5.3

NCISCO COUNT

5\Memos\01 Jan\Poli

Conduct ofimpute tunbecom

Smoking P

Honors isscategorie

1. EngroTranswith tthe St

2. Certif(5) Ccaccor

a) Nw

b) Ep

c) Dmp

3. Letteof Re

4. The Eeach by th

5. The resoluBoard

TY TRANSPORT


f Members. No another m

ming to a mem

Prohibited. Sm

sued by the Bs for transpo

ossed Resolusportation Athe Transportate Legislatu

ficate of Honcertificates ordance with t

No certificatewithin the pre

Each memberproposed reci

During the tmembers maprimary spon

rs of Recomecommendati

Executive Dof these hone staffs of in

Board shall utions, certifd meeting.

TATION AUTHO


CHAPTER

No member inmember or tmber.

moking during

Board of Commortation- relat

utions. Such Authority staf

rtation Authure upon leav

nor. Each mof Honor a yethe following

es shall be isevious twelve

r desiring to ipient to the

two (2) busiy indicate thsor shall then

mmendation. ion in the na

irector shall,nors, and sha

ndividual mem

be advisedficates of ho

ORITY

R 5. MISCELL

n debate shato other me

g Board or co

missioners. Thted activities:

resolutions ff leaving theority; and Mving office.

member of thear on behalfg procedure.

sued to a pee (12) month

issue a CertiClerk who w

iness days fheir desire tn permit the

Each membame of the Bo

, after consuall facilitate tmbers.

d at its regunor or letter

LANEOUS

all, directly orembers any

ommittee me

he Board ma:

shall be prepe service afte

Mayors, memb

he Board is af of the Boar

erson or entiths.

ificate of Howill advise oth

following thto join in onadditional m

ber of the Booard without

ultation with the preparati

ularly schedurs of recomm

r indirectly, bconduct or

eetings is pro

ay issues hon

pared for meer at least tenbers of Cong

authorized tord without fu

ty which has

onor shall proher members

he provision n sponsoring

members to si

oard is authot limit as to n

the Chair, pion of such c

uled meetinmendation a

RULES OF OR

RESOLUTION 1

Pag

by any form motive unw

ohibited.

nors in the

embers leavinn (10) years ogress, and me

o be issued uurther Board

s received a c

ovide the nams of the requ

of the namg the certificign the certif

orized to issunumber.

prescribe the certificates an

ng on any eawarded sinc

RDER 15-XX

e 14 of 14

of words worthy or

following

ng office; of service embers of

up to five d action in

certificate

me of the est.

me, other cate. The ficate.

ue Letters

form for nd letters

engrossed e the last

I

I

I

IV

SAN FRAN

DRAFT

M:\Finance\201

. INTRODUCT

The purpthe San Fsystematiapplicable

I. DEBT POLI

The prim M M

m A

it

II. SCOPE AND

This DebInvestmeFiscal Poselection

This Polichanges tnoticed athe Boarauthority program,Annual BPolicy represented

While adrecognizemay fromor exceptspecific a

V. ETHICS AN

Officers, program proper anmake imp

NCISCO COUNT

5\Memos\01 Jan\Poli

TION

pose of this PFrancisco Coic debt police provisions

CY OBJECTIVE

mary objectiveMaintain cost-Moderate debmanagement iAchieve the h

s objectives.

D DELEGATION

bt Policy shaent Policy (alicy, the issuaand managem

icy shall be to the policy and conducted. Responsibfor structuri

shall lie witBudget does equires that d to the Boar

dherence to tes that changm time to timtions to achi

authorization

ND CONFLICTS

and employwill not eng

nd lawful expartial decisio

TY TRANSPORT

cies\Att 04 Draft Debt

Policy is to orounty Transpcy (Debt Poof state and

E

es of the Tran-effective acc

bt principal anin coordinati

highest practi

N OF AUTHORIT

all govern, ex copy of whance and mament of relat

reviewed anare subject t

ed public mebility for iming, implemeth the Execunot constituthe Board

rd in the cont

this Policy iges in the ca

me produce sieve policy gfrom the Bo

OF INTEREST

yee or agentsgage in any

xecution of thons.

TATION AUTHO

t Policy 2015.docx

DE

rganize and fportation Auolicy). The Dfederal law a

nsportation Acess to the cand debt serviion with Trancal credit rati

TY

xcept as othehich is attacanagement ofted financial

nd updated to approval beting. Overa

mplementationenting, and mutive Directoute authorizatspecifically atext of and c

s required inapital marketsituations thagoals. In theoard is obtain

s of the Trapersonal buhe debt man

ORITY

EBT POLIC

formalize debuthority (the Debt Policy and to pruden

Authority’s dapital marketice paymentsnsportation Aings that also

erwise coverehed hereto)f all debt funand advisory

at least annby the Transll policy diren of the Demanaging theor. The Boartion for debauthorize ea

consistent wit

n applicable ts, agency prat are not covese cases, maned.

ansportation usiness activinagement pr

CY

bt issuance-rTransportatis, in every nt debt mana

debt and finats through prs through effAuthority proo allow the T

ed by the Trand the Tr

nded throughy services and

nually and msportation Auection of thisebt Policy, ae Transportard’s adoptionbt issuance foach debt finth the Annua

circumstancrograms andvered by theanagement f

Authority inities or invesogram, or w

related policition Authoriy case, subjeagement prin

ancing relatedrudent yet flefective plannioject sponso

Transportatio

ransportationansportation

h the capital md products.

more frequenuthority Boas Debt Policyand day-to-dation Authorn of the Tranor any capitanancing. Eacal Budget.

ces, the Trand other unfoe Policy and flexibility is a

nvolved in tstments that

which could i

DEBT PO

RESOLUTION 1

Pa

es and procety) and to e

ect to and linciples.

d activities arexible policieing and proje

ors; and on Authority

n Authority’sn Authority’smarkets, incl

ntly as requiard (Board) ay shall be proday responsibrity’s debt annsportation Aal projects. Tch financing

nsportation Aoreseen circurequire modappropriate,

the debt mant would conimpair their

LICY 15-XX

ge 1 of 18

edures for stablish a imited by

re to es; ect cash

to meet

s adopted s adopted uding the

ired. Any at a legally ovided by bility and

nd finance Authority

This Debt shall be

Authority umstances difications

provided

nagement nflict with

ability to

V

V

SAN FRAN

DRAFT

M:\Finance\201

V. STRATEGICThe TraPropositiand the FPlan sets Policy prguidance not be rePlan.

VI. STANDARD

The Trancases whfinancing

A. Cr

CATinTcucr

B. Lo

TcathuEpcadex

C. De

Tbteanfifi

D. O

Tth

NCISCO COUNT

5\Memos\01 Jan\Poli

C PLAN INTEGRansportation ion K Sales TFiscal Policy priorities and

rovides policon decision

ecommended

DS FOR USE OF

nsportation Ahere public g.

redit Quality.

Credit qualityAuthority’s oTransportation a manner Transportatiourrent creditredit rating a

ong-Term Capi

The Transporapital projecthe debt repaseful life of

Expenditure Policies, the Tapital investmebt financingxpenditures u

ebt Financing

The Transporut not limiteerm debt, cond inter-funinancing alteinancing stru

ngoing Debt Ad

The Transporhe term of t

TY TRANSPORT


RATION Authority’s

Tax (Prop K)to ensure prod strategies fy direction as pertaining

d for Board a

F DEBT FINANC

Authority’s dpolicy, equi

y is an impoobjectives ann Authority conducive t

n Authority’ratings assig

gencies.

ital Projects.

rtation Authots. When theayment periof the projectPlan or (3) foTransportatioment and thag shall not bunder federa

Mechanism.

rtation Authed to, tax-exemmercial pad borrowing

ernative that cture to the T

dministration a

rtation Authothe debt. At

TATION AUTHO

t Policy 2015.docx

multi-year ) Expendituroper allocatiofor allocatingand limitatioto internal fi

approval unle

CING

debt manageity and econ

ortant consind the assoc

debt manageto receiving ’s debt managned to the T

ority will issue Transportaod should not being finanorty (40) yearon Authorityat it is approbe used to fl tax principl

ority will evaempt and taxaper, sales taxg. The Tran

effectively Transportati

and Internal C

ority shall mat a minimum

ORITY

Strategic Pre Plan, shall on and finan

g Prop K funns for propo

fiscal manageess such issu

ement progranomic effici

ideration andciated the sizement activit

the highestagement objTransportatio

ue long-termation Authorot exceed thnced, (2) thrs from the dy recognizesopriate that tfund operatiles.

aluate the usxable debt, lox revenue an

nsportation Abalances theon Authority

ontrols.

aintain all debm, this repos

Plan (Strategbe used in c

ncing of Propnds under its osed financinement. Debt uance has be

am will promiency favor

d will be bze and freqties for new t credit ratinectives, and on Authority

m debt only tority finances he earliest ofhe end of thdate of issuans that futurethey pay a shing costs un

se of availabong-term debnd grant antiAuthority wie cost of thy.

bt-related recsitory will in

gic Plan), wcombination p K eligible pguiding prinng and the Fissuance foren incorpora

mote debt isdebt over

alanced withquency of is

debt issuancngs possibleto maintain

y’s outstandi

o finance andcapital projef the followihe term of nce. Inherente taxpayers whare of the a

nless such co

ble financial abt (both fixedicipation notill utilize the

he financing

cords for a pnclude all of

DEBT PO

RESOLUTION 1

Pa

which progrwith this De

projects. Theciples, while Fiscal Policy r capital projated into the

ssuance onlycash (pay-a

h the Transsuances of ces will be ce consistent ning or improing debt by t

d refinance lects by issuin

wing: (1) 120%the current t in its long-twill benefit asset cost. Losts qualify

alternatives id and variabltes, private pe most advawith the ris

period for nofficial statem

LICY 15-XX

ge 2 of 18

rams the ebt Policy e Strategic

the Debt provides

jects shall e Strategic

y in those s-you-go)

sportation debt. All onducted with the

oving the the major

long-term ng bonds, % of the sales tax

term debt from the

Long-term as capital

including, le), short-placement antageous sk of the

o less than ments, bid

V

SAN FRAN

DRAFT

M:\Finance\201

devwdtrATP

E. Re

TfucomrereTcoreTTC

VII. FINANCING

A. Pu

Wcr1.

2

NCISCO COUNT

5\Memos\01 Jan\Poli

ocuments, ovents notices

with bond prebt. To theranscript will

Authority willTransportatioPolicy, all deb

ebate Policy a

The Transporunds. These ompliance w

maximize the espective indequirements

Transportatioomplies withebate, yield li

The TranspoTransportatioConsultant.

G CRITERIA

urpose of Debt

When the Trriteria will be. NEW MO

New monprojects constructithe Debt PTheCapitaand the E

. REFUNDI

Refundingdebt. Refumodify inused, or refunding Policies oRefinancin

TY TRANSPORT


ordinances, s, tax certificroceeds, und extent thatsuffice (tran

l develop a n Authority

bt covenants

nd System.

rtation Authrecords wi

with all debt cinterest earn

denture, conand as per

n Authority h any tax cerimits and arb

ortation Authn Authority

t.

ransportatione utilized to e

ONEY FINAN

ney issues arefor allocatioion or majorPolicy, debt pal project funxpenditure PING FINANC

g bonds are iunding issuan

nterest rate ricovenants oissue on a

on the adminng Outstandi

TATION AUTHO

t Policy 2015.docx

indentures, cates, informderwriter andt official tra

nscripts may bstandard prowill establis

and any appl

hority will acill be designcovenants, annings on all nsistent withrmitted by will developrtificates rela

bitrage, and mhority will shall have th

n Authority devaluate the tCING. e financings on of Tranr rehabilitatioproceeds gen

nding requirePlan. CING. issued to retnces can be isk, or to reof existing da present-valnistration ofing Debt.

ORITY

trustee repomation regardd other agreeanscripts incbe hard copyocedure for sh internal clicable requir

ccurately accned to ensund with applifunds within

h consideratithe Transp a system of ating to its omaking any reretain recorhe authority

determines ttype of debt t

that generatnsportation

on of capital nerally may nements are ou

tire all or a pused to achi

estructure thedebt. The Tlue basis to f refunding f

orts, continuding the inveements, etc. corporate thy or stored oarchiving tr

controls to erements of ap

count for allure that theicable laws. Tn the investmion of appl

portation Auf reporting inoutstanding equired filingrds as requi

to retain th

the use of dto be issued.

te funding foAuthority assets. In ac

not be used eutlined in the

portion of anieve present-e payment sTransportatio

identify ecfinancings a

uing disclosuestment of a

for all Tranese docume

on CD-ROMranscripts foensure comppplicable law

l interest ear TransportaThe Transpoment paramelicable yield uthority Invnterest earnindebt and Ings with State ired by its e services of

debt is appro.

or capital profunds inclu

ccordance wexclusively foe annual bud

n outstanding-value savingchedule, typ

on Authorityonomic effe

are detailed f

DEBT PO

RESOLUTION 1

Pa

ure reports, and project cnsportation Aents, possess

M). The Transr any new d

pliance with w.

rnings in debation Authorortation Autheters set forth

limits and estment Polngs that relatnternal Reven

and Federal tax certifica

f an Arbitrag

opriate, the

ojects. Eligibude the ac

with the philoor operating dget, the Strat

g bond issuegs on debt s

pe of debt iny must analects before further in Se

LICY 15-XX

ge 3 of 18

material costs paid Authority sion of a sportation debt. The the Debt

bt-related rity is in hority will h in each arbitrage

licy. The tes to and nue Code agencies.

ates. The ge Rebate

following

ble capital cquisition, osophy of expenses. tegic Plan

e or other ervice, to

nstrument lyze each approval. ection X:

SAN FRAN

DRAFT

M:\Finance\201

B. Ty

Wcr1.

NCISCO COUNT

5\Memos\01 Jan\Poli

ypes of Debt.

When the Trariteria will be. LONG-TE

The Tranbonds) whderived frmaintenanearliest offinanced, from the dFixed Raa) Curren

They be adchangipricingfund t

b) Zero Cwhen types coupozero-cinvestinteres

c) Specialprogramunicassist requirTransporder

Variable a) Variab

amortweeklygiven party lgeneraon anretain

TY TRANSPORT


ansportation e utilized to eERM DEBT. sportation Ahen funding rom long-termnce. Long-terf the follow(b) the sunsedate of issuan

ate nt Coupon Bonmay be used

djusted to acing dollar amg, modifyingthe debt servCoupon and Ca

principal maof bonds ty

on bonds, thcoupon bonment amounst on the bonl Government Oam authorizcipal securitylocal governements allowportation Auto determineRate ble Rate Demtization but y, monthly, ocurrent mar

liquidity in thally allow boy rate reset an investme

TATION AUTHO

t Policy 2015.docx

Authority deevaluate the t

Authority mayallocations c

m borrowingrm debt will

wing: (a) 120et date of thence.

nds are bondd for both neccommodatemounts for pg call provisvice reserve fuapital Appreciaatures. Intereypically bear erefore repre

nds, principant received nd accretes uObligations (boed for calen

y, structure onments in accw the Transuthority will e which is the

mand Notes (the interest or such otherket conditiohe forms of L

ondholders todate, given cnt bank to re

ORITY

etermines thatype of debt t

y issue long-cannot be fig will not be be structure% of the exe current sale

ds that pay inew money ane the markeprincipal matsions, utilizinund and costation Bonds paest continueinterest at

esenting a mal paid at mat issuance.

until maturityoth tax-exemptndar years 2or tax creditcessing the csportation Aevaluate it

e most appro

(VRDBs) arerate resets

er period as tons. VRDBs Letters or Lio “put” theircertain noticemarket thes

at the use of to be issued.

-term debt (einanced fromused to fina

ed such that xpected averes tax Expen

nterest periond refundinget conditionsturities, offerng bond insuts of issuanceay interest ths to accrue orates that ar

more expensivmaturity is

In the casy. t and taxable),2009 and 2t authorized

capital markeAuthority to along with topriate for a

e long- termat certain e

the Transporoften requi

ines of Credir bonds backe. The Trane bonds that

f debt is appr.

e.g. fixed or m current revance current the obligatiorage useful nditure Plan

odically and g transactions at the timring discounurance, and e. hat is compoon the unpare higher thve funding odiscounted

e of capital

, such as the 2010 or anyd by the Fedets. So long a

adhere to traditional fiparticular iss

m bonds wiestablished prtation Authire credit enit and/or bonk to the Tran

nsportation At are “put.”

DEBT PO

RESOLUTION 1

Pa

ropriate, the

variable ratevenues. The operations o

ons do not exlife of the or (c) forty (

principal at ns. Bond featme of sale, nt and premi

determining

ounded and aid interest, aan those onoption. In th

back to thl appreciatio

Build Amery other typederal Governas the new pits Debt Po

inancing strusuance.

ith a fixed periods such ority deems

nhancement and insurancensportation A

Authority wil

LICY 15-XX

ge 4 of 18

following

e revenue proceeds

or normal xceed the project(s) (40) years

maturity. tures may including

ium bond g how to

paid only and these

n current-he case of he initial n bonds,

rica Bond e of new nment to program’s olicy, the uctures in

principle as daily,

advisable and third

e. VRDBs Authority ll need to

SAN FRAN

DRAFT

M:\Finance\201

2

3

NCISCO COUNT

5\Memos\01 Jan\Poli

b) IndexedCreditindex

. SHORT-TShort-termdeficits orevenue sothe Transpbe utilizeTransportborrowingrepaymena) Comme

the timmaintaaccessmillioncommfurthethe iss

b) Grant AState oGANs

c) Sales Trevenuthe isborrow

d) Lettersshort-

e) TranspUnitedregionif it is

f) Grant AenableThe Tflow s

. VARIABLE

To maintpreferencedebt is flovariable racosts, proliabilities.

TY TRANSPORT


d Notes are ft. These formsuch as SIFM

TERM DEBT.m borrowingr anticipatedource with thportation Aued for funtation Authog. The Transt source or aercial Paper Nming of funain an ongos to capital fn tax-exemp

mercial paper er Board actiosuance of lonAnticipation Nor Federal gs only when Tax and Revenue cash flow sue fully cowings. s or Lines of Cterm borrow

portation Infrasd States Denal importancdetermined Anticipation R

e entities to fTransportatiohortfalls of g

E RATE DEB

tain a predice to debt thaoating or variate debt to dovide interimVariable rat

TATION AUTHO

t Policy 2015.docx

forms of vams of variabMA. The rate. g may be utild revenues, he anticipateuthority’s comnding of thority will deteportation Au

amortization Notes may be inding requireoing commerfunding whe

pt commercianotes withinon. The retirng-term bondNotes (GANs)grants of anythere is no onue Anticipatineeds consisnforms to F

Credit shall be wing options.structure Finanepartment oce. The Tranthat it is the Revenue Vehiclfund transpoon Authoritygrant revenueBT. ctable debt at carries a fiable rate debdiversify the m funding fote debt typic

ORITY

ariable rate dble rate debte will reset ei

lized for thewhere antic

ed amount bammercial paphe Transpoermine and uuthority may of principal, issued as an aements is unrcial paper pen needed. Ial paper pro

n the $200 mirement of cods or the repas) are short-tey type. The Tother viable sion Notes (TRstent with a fFederal tax r

considered a

nce Innovationf Transporta

nsportation Amost cost ef

cle Financing (Gortation projey may consides.

service burdfixed interestbt. It may beTransportatior capital prally has a lo

debt that dot have a fixeither on a we

e temporary cipated reveased on consper programortation Auutilize the le

y issue short-subject to th

alternative toncertain. Thprogram to In March 20ogram. Perioillion Board-

ommercial paaying of prinerm notes thTransportatioource of fun

RANs) shall finding by borequirements

as an alterna

n Act (TIFIAation for ce

Authority maffective debt GARVEE) aects that are der the issua

den, the Trat rate. An ale appropriateion Authoritrojects and

ower initial c

o not requireed spread toeekly, monthl

funding of oenues are deservative esti

m, short-term uthority’s caeast costly mterm debt w

he following o fixed rate dhe Transport

ensure flexi004, the Boaodic issuance-approved praper is most ncipal from chat are repaidon Authority

nding for the be issued o

ond counsel s and limita

ative to or cre

A) Loan is a lertain transpay elect to apfinancing opare bonds isssecured by

ance of GAR

ansportation lternative to e to issue shoty’s debt porimprove the

cost of borro

DEBT PO

RESOLUTION 1

Pa

e Letters or o a certain inly, or other b

operational cefined as animates. In thborrowings

apital projecmethod for shwhen there is

policies: debt, particulatation Authoibility and imard approvees or a retirrogram do nocommonly aash on hand

d with the proy shall generproject. nly to meet that that the

ations for ta

edit support

loan provideportation prpply for a TIption availablsued by the certain federRVEEs to m

Authority the use of f

ort-term or lrtfolio, reduce match of owing than f

LICY 15-XX

ge 5 of 18

Lines of ndentified basis.

cash flow n assured he case of

may also cts. The hort-term a defined

arly when ority may mmediate d a $200 ement of ot require a result of . oceeds of rally issue

sales tax e sizing of ax-exempt

for other

ed by the rojects of IFIA loan le. State and ral grants. meet cash

may give fixed rate long-term ce interest

assets to fixed rate

V

SAN FRAN

DRAFT

M:\Finance\201

4

VIII. TERMS AN

The Tranand will Transpor

A. Te

AtoshT

NCISCO COUNT

5\Memos\01 Jan\Poli

financing circumstanpurpose orate debt ia) Variab

prograTranspdebt in20-30%risk an(1) A

plaincm

(2) Vanor

(3) AscosuPr

. FINANCIA

Financial the issuanthe derivaexpense ototal projthorough risk, tax rimpact onafter the Bother Finapproval f

ND CONDITIONS

nsportation Acontrol, m

rtation Autho

erm.

All capital impo exceed 120hould exceed

Transportatio

TY TRANSPORT


and shorter nces will th

of earning arbin certain insble Rate Debtam (which isportation Aun considerati% variable rnd managing dequate Safeguace to preveclude, but aatching of as

Variable Revennticipated to r the dedicatis a Componen

onjunction wubject to othroducts. AL DERIVAT

Derivative Pnce or managative productor revenue, oect cost. Fievaluation o

risk, terminan the TranspBoard has adancial Derivfrom the Boa

S OF BONDS

Authority shamanage, and ority, the foll

provements f0% of the expd the lesser n Authoritys

TATION AUTHO

t Policy 2015.docx

maturities bhe Transportbitrage. The tances. t Capacity. Es not covereduthority will ion of generarate exposure

the variable uards Against ent adverse are not limissets and liabnue Stream. Tmove in the on of revenunt to Syntheti

with a financher provisio

TIVE PRODUC

Products suchgement of det will either or alternativeinancial Derof risks assoation risk anortation Aut

dopted separavative Produard.

all establish ainvest all

owing shall s

financed thropected averaof forty (40)

sales tax Exp

ORITY

but carries btation AuthoTransportati

Except for td by the follomaintain a cal rating agene, in additionrevenue streRisk. Financimpacts fro

ited to, intebilities. The revenue

same directiues allows capic Fixed Rate cial strategy,ons of the

CTS. h as interestebt only in inprovide a h

ely where thrivative Prodciated therew

nd liquidity rthority’s abiliate policy gucts. Derivati

all terms andbond proc

serve as bond

ough the issuge useful life) years or thenditure Plan

both interest ority issue vion Authority

the existing owing requirconservative ncy guidelinen to maintaieam both as dcing structurem interest r

erest rate sw

e stream forion as markepacity for va

e Debt. Varia, which resuDebt Policy

t rate swaps nstances whehedge that rehe derivative ducts shall with, includirisk, (2) afteity to refinanuidelines for ive products

d conditions ceeds. Unlesd requiremen

uance of debe of the assethe period ofn.

rate and liqvariable ratey, however, m

$200 milliorements of vlevel of out

es recommenining adequadescribed bee and budgerate shifts; swaps, interes

r repaymentet-generated variability. able rate bonults in synthy regarding

will be consere it has beeduces the r

product wilbe consider

ing counterper considerance bonds atthe use of in

s will only b

relating to thss otherwisents:

bt will be finats being finanf time until

DEBT PO

RESOLUTION 1

Pa

quidity risk. U debt solelymay conside

on commercvariable rate dtstanding varnding a maximate safeguardlow: tary safeguarsuch structurst rate caps

t is variablevariable inter

nds may behetic fixed r

Financial D

sidered approeen demonstrrisk of fluctull significantred only: (1party credit ration of the t a future datnterest rate swbe utilized w

he issuance oe authorized

anced for a pnced, and in sunset of th

LICY 15-XX

ge 6 of 18

Under no y for the er variable

cial paper debt), the riable rate mum of a ds against

rds are in res could

and the

e, and is rest rates,

e used in rate debt, Derivative

opriate in rated that uations in tly reduce ) after a

risk, basis potential

te and (3) waps and

with prior

of bonds, d by the

period not no event

he current

SAN FRAN

DRAFT

M:\Finance\201

B. Ca

TcoHisoobApap

C. Li

Sethu

D. Ad

Anthanse

E. De

Ddweaocam

F. Ca

Incodo

G. O

AAbaf

NCISCO COUNT

5\Memos\01 Jan\Poli

apitalized Inte

The nature oontinuously

However, cerssuance date therwise reqbviate unneceyond three

Authority mayroceeds of tpplied to ext

ien Levels.

enior and Juhe most criticse of the rev

dditional Bond

Any new seniet of any Fedhan one and ny Federal suervice for the

ebt Service St

Debt issuanceebt service t

within each liarly years of r may utilizapacity cons

maturities exc

all Provisions.

n general, thonventions, elivery of taxr a different

riginal Issue D

An original issAuthority det

onds and thaffect the proj

TY TRANSPORT


rest.

f the Transpavailable an

rtain types ountil the p

quired, the Tcessarily incre

(3) years ory require thathe bonds. Inend the term

unior Liens focal constrainenue source

s Test.

ior lien debt deral subsidya half times

ubsidy or cree new issuanc

ructure.

e shall be plato the usefulien to achieva bond issuee more acce

straints. The cept in those

e Transportawhich is typx-exempt bocall feature i

Discount.

sue discountermines thatat the use of ject identified

TATION AUTHO

t Policy 2015.docx

portation Aund the use oof financingroject spons

Transportatioeasing the bor a shorter pat capitalized nterest earnin

m of capitalize

or each revent, typically eisecuring the

issuance muy or credit, to(1.5x) the m

edit, for the ace.

anned to achil life of facilive overall leve to maximizelerated repa

Transportatinstances wh

ation Authorpically no lands. The Tras appropriate

t or original it such discouf an original id by the bon

ORITY

uthority’s revof capitalizedgs may requisor has conson Authorityond issuance period if furt

interest on tngs may, at ed interest bu

nue source wither cost or bond.

ust not causeo exceed the

maximum annaggregate ou

ieve relativelyities. The Trvel debt serve the availabayment schetion Authorhere these ma

rity’s securitieter than tenansportatione in some cir

issue premiumunt or premiuissue discoun

nd document

venue streamd interest shire the use structive usey will avoid size. Interesther restrictethe initial serthe Transpo

ut in no even

will be utilizecapacity, thu

e the Transpe level at whinual principautstanding sen

y rapid repayransportationvice (though bility of pay-aedules after rity shall avoaturities serv

es will includn and one-han Authority mrcumstances.

m will be perum results innt or originals.

m is such thahould not no

of capitalizee of the finathe use of c

st shall not bed by statuteries of bond

ortation Authnt beyond the

ed in a mannus allowing fo

portation Auich the incomal, interest annior lien bon

yment of debn Authority wprincipal m

as-you-go dogiving consi

oid the use ve to level exi

de a call featalf (10.5) yemay determin

rmitted only n a lower trul issue premi

DEBT PO

RESOLUTION 1

Pa

at funds are ormally be ned interest anced projeccapitalized in

be funded (cae. The Transds be funded hority’s discre authorized

ner that will mfor the most b

thority’s debming revenuend debt servinds including

bt while still will amortize

may be deferrollars during tideration to of bullet or

isting debt se

ture, based oars from thene that no ca

y if the Transue interest coium will not

LICY 15-XX

ge 7 of 18

generally necessary. from the

ct. Unless nterest to apitalized) sportation

from the retion, be term.

maximize beneficial

bt service, es are less ce, net of

g the debt

matching e its debt red in the that time)

bonding r balloon ervice.

on market e date of all feature

sportation ost on the adversely

IX

SAN FRAN

DRAFT

M:\Finance\201

H. De

DmAo

I. De

TwrewAoAceasut

J. M

Inmpth

X. CREDIT EN

The Tranevaluatingpositive Transporthe cost a

A. Bo

Tpoex

B. De

Wotwfuacin

NCISCO COUNT

5\Memos\01 Jan\Poli

eep Discount B

Deep discounmay also limAuthority will

f the lower-t

erivative Produ

The Transporwhere it has educes risk o

will reduce thAuthority sha

f these derivAuthority willertain financissociated witilized with p

Multiple Series.

n instances wmake a final d

riority finanche earliest or

NHANCEMENTS

nsportation Ag the economimpact on

rtation Authoand benefit o

ond Insurance

The Transporurchase is den such insuxpense on in

ebt Service Re

When requireriginal princwenty-five (1unded from ccordance winvestors requ

TY TRANSPORT


Bonds.

nt bonds mamit opportuni

l carefully cothan-market c

ucts.

rtation Authbeen demon

of fluctuationhe total pro

all develop anvative producl undertake aing and markth the use o

prior approva

.

where multipdeterminationcing, based omost senior

S

Authority wmic benefit voverall deb

ority will conof such enhan

.

rtation Autheemed pruderance being

nsured bonds

eserves.

ed, a reserve cipal amount25%) percenthe proceed

ith the requiruirements.

TATION AUTHO

t Policy 2015.docx

ay provide a ities to refin

onsider their coupon.

hority will constrated thatns in expenseoject cost. Ifnd maintain acts. For derivan analysis ofketing assumof a particulal from the B

ple series of bn as to whichon funding av

of the bond

will consider versus cost fot capacity c

nsider each oncement.

ority shall haent and advaless costly

versus unins

fund equal t of the bonnt of averageds of each srements of c

ORITY

lower cost onance at lowvalue and th

onsider the t the derivate or revenue,f interest ratan Interest Rvatives otherf early termin

mptions. Suchlar derivativ

Board.

bonds are toh allocations vailability and

d series.

the use of or each case.can be showf the followi

ave the authantageous. Tthan the prsured bonds.

to not morends, maximue annual debteries of bonredit enhanc

of borrowinwer rates in he effect on

use of derivtive product , or alternativte swaps areRate Swap Por than interenation costs h analysis wilve product. D

o be issued, tare of the hid proposed t

credit enhan. Only when wn shall ening enhancem

hority to purThe predominresent value .

e than the leum annual dt service (thends, subject cement provi

ng in certain n the future.any future re

vative produwill either p

vely, where te consideredolicy governiest rate swapand other coll document Derivative p

the Transporighest prioritytiming, will g

ncement on a clearly dem

nhancement ments as alte

rchase bond nant determiof the diffe

esser of ten debt service e “Reserve Rto federal ta

iders, rating a

DEBT PO

RESOLUTION 1

Pa

markets tho The Transefinancings a

ucts only in provide a hethe derivatived, the Transing the use a

ps, the Transonditional terthe risks and

products will

rtation Authoy. Projects ch

generally be s

a case-by-camonstrable sbe conside

rnatives by e

insurance wination shall erence in the

percent (10%or one-hund

Requirement”ax regulationagencies and

LICY 15-XX

ge 8 of 18

ough they sportation as a result

instances edge that e product sportation and terms sportation rms given d benefits l only be

ority shall hosen for subject to

ase basis, savings or ered. The evaluating

when such be based

e interest

%) of the dred-and-”) shall be ns and in /or other

X

SAN FRAN

DRAFT

M:\Finance\201

Tueqb

C. Li

TofiMfrA

X. REFINANCI

The TranrefundingTransporopportun

A. De

Torehreisfonb

B. Re

Tinsare

C. Te

THacTrege

NCISCO COUNT

5\Memos\01 Jan\Poli

The Transporse of a reserquivalents shasis.

iquidity Faciliti

The Transporf-credit agreeinancial insti

Moody’s Inverom at least t

Authority liqu

ING OUTSTAND

nsportation g opportunitrtation Authnities:

ebt Service Sa

The Transporf three (3) peasons for das establisheefunded bonssuance of syor defeasanceet of all costasis must be

estructuring.

The Transpornclude restruavings, mitigestrictive bon

erm of Refundi

The TransporHowever, thechieve a d

Transportatioealize greaterenerational e

TY TRANSPORT


rtation Authorve fund surhall be evalua

ies and Letters

rtation Authoements whenitutions withestor Servicetwo of the thuidity facilitie

DING DEBT

Authority shties that mayhority will c

avings.

rtation Authopercent of thdefeasance uned a minimund principal ynthetic fixedeundertakingts related to texplicitly ap

rtation Authoucturing to mgate irreguland covenants

ing Issues.

rtation Authe Transportaesired outcon Authority

r savings. Theequity should

TATION AUTHO

t Policy 2015.docx

ority shall harety) when suated in comp

s of Credit.

ority shall han such agree

h short-term s, Standard &hree aforemees and letter o

hall have thy be presentconsider the

ority has esthe refunded bndertaking thum present amount for

d rate refundg the refundithe refinancinproved by th

ority will refumeet unanticip

r debt servis.

ority will refation Authorome, providmay also cone remaining

d guide this d

ORITY

ave the authuch purchaseparison to ca

ave the authoments are deratings of n

& Poor’s andentioned ratinof credit agre

he responsibied by undere following

ablished a mbond principhe refundingvalue saving

r refinancingding debt serving. TheFor tng. The decihe Transporta

und debt whepated revenuice payment

fund bonds writy may conded that sunsider shorteuseful life of

decision.

ority to purce is deemed ash funding o

ority to entereemed prudenot less thad Fitch Ratinngs agencieseements.

ility to analyrwriting and/

issues whe

minimum prepal amount ug. Additionags threshold gs involving vice unless ththis purposesion to take ation Author

en in its bestue expectatiots, release r

within the tensider maturuch extensiening the terf the financed

chase reserveprudent and

of reserves o

r into liquiditent and advaan VMIG 1/ngs, respectivmay particip

yze outstand/or financialen analyzing

esent value sunless there

ally, the Trangoal of fivderivative p

here are othee, the presentsavings on arity Board.

t interest to dons, terminateserve fund

erm of the ority extensionion is legalrm of the orid facility and

DEBT PO

RESOLUTION 1

Pa

e equivalentsd advantageoon a net pres

ty facilities aantageous. O/P1, A-1 anvely, and wit

pate in Trans

ding bond il advisory fig possible r

avings threshare other co

nsportation Ave (5) percenproducts sucer compellint value savingan upfront or

do so. Refunte swaps, ach

ds or remov

originally issun, when neclly permissibiginally issue

d the concept

LICY 15-XX

ge 9 of 18

s (i.e., the ous. Such sent value

and letter-Only those nd F1, by th ratings

sportation

ssues for irms. The refunding

hold goal ompelling Authority nt of the ch as the g reasons gs will be r deferred

dings will hieve cost ve unduly

ued debt. cessary to ble. The

ed debt to t of inter-

X

SAN FRAN

DRAFT

M:\Finance\201

D. Es

Trevencocoththunfr

E. Ar

Tnac

F. Co

Tp

XI. METHODS

The Trancompetiti

A. Co

Inpthfo

NCISCO COUNT

5\Memos\01 Jan\Poli

scrow Structur

The Transpoefunding escersus legal deot a broker-dompetitive bost effective he securities he case of SLnderwriter, arom its own a

rbitrage.

The Transporegative arbitrccording to F

ommercial Pap

The requiremaper notes fo

OF ISSUANCE

nsportation ively or throu

ompetitive Sal

n a competiroviding the he official noollows:

a) Bond b) Markec) Partici

requird) There

mediae) The bf) Bond g) Managh) Issueri) Issuer

TY TRANSPORT


ring.

rtation Authcrows. The Tefeasance ondealer, is req

bid process (ithan State anwas reasonaLGs purchasagent or finaaccount.

rtation Authrage in its reFederal guide

per Program.

ments of this or the purpos

Authority wugh negotiati

e

itive sale, thlowest true i

otice of sale.

prices are staet timing andipation fromed for winninare no comp

a coverage, poond type andinsurance is geable transar has strong cr is well know

TATION AUTHO

t Policy 2015.docx

hority shall uTransportatio

n a net presenuired statingin the case ond Local Go

able within Fsed directly fancial adviso

hority shall taefundings. Anelines.

Section X sse of refundi

will determinion.

e Transportinterest cost Conditions

able and/or dd interest rate

m Disadvantagng bid plex explanatolitical structd structure arincluded or p

action size credit ratingwn to investo

ORITY

utilize the leon Authoritynt value basisg that the secof open markovernment OFederal guidefrom the U.Sor sell escrow

ake all necesny resulting

shall not apping maturing

ne, on a ca

ation Authoas long as thunder which

demand is ste sensitivity aged Business

tions requireture, politicalre conventionpre-qualified

ors

east costly sy will examis. A certificaturities were ket securities

Obligations (Selines. Such cS. Treasury. w securities

ssary steps topositive arbi

ply to or resg commercial

ase-by-case b

ority’s bondshe bid adhereh a competiti

trong are not criticas Enterprise (

ed during mal support, funnal

d (available)

securities avine the viabte from a thiprocured thrs), that such SLGS), and tcertificate shUnder no cto the Tran

o optimize eitrage will be

strict the issl paper notes

basis, wheth

s shall be awes to the reqive sale woul

al to the prici(DBE) firms

rketing regarnding or cred

DEBT PO

RESOLUTION 1

Pag

vailable in stbility of an eird party agenrough an armsecurities w

that the pricehall not be recircumstancesnsportation A

escrows and e rebated as

suance of co.

her to sell i

warded to thuirements seld be preferr

ing s is best effor

rding issuer’sdit quality

LICY 15-XX

e 10 of 18

tructuring economic nt, who is

ms-length, were more e paid for equired in s shall an Authority

to avoid necessary

ommercial

its bonds

he bidder et forth in red are as

rt and not

s projects,

SAN FRAN

DRAFT

M:\Finance\201

B. N

TC

C. Pr

FplTura

D. Is

Tfo

E. In

Twad

F. Fe

Isre

NCISCO COUNT

5\Memos\01 Jan\Poli

egotiated Sale

The TransporConditions un

a) Bond b) Demac) Marked) Issuere) Issuerf) Sale a

projecg) The b

deliverprodu

h) Bond i) Early j) The pk) Demal) Partici

rivate Placeme

From time tolacement sha

Transportatiosing the Tranate.

ssuance Metho

The Transpororth above.

nvestor Outreac

The Transporwith institutiodvantageous

easibility Analy

ssuance of reevenue stream

TY TRANSPORT


e.

rtation Authonder which a prices are vo

and is weak oet timing is imr has lower orr is not well kand marketincts, media covbond type ary bond sale,

ucts insurance is structuring aar amount fo

and for the boipation from

ent.

o time the Tall only be cn Authority nsportation A

od Analysis.

rtation Auth

ch

rtation Authonal investorto the sale o

ysis.

evenue bondm’s ability to

TATION AUTHO

t Policy 2015.docx

ority recogninegotiated s

olatile or supply or cmportant, sucr weakening

known to invng of the boverage, politi

and/or struc, issuance of

not availableand market por the transaconds by retai

m DBE firms

Transportatioconsidered ifrelative to otAuthority’s in

ority shall ev

hority shall prs in advanceof such bond

ds will be ac meet future

ORITY

zes that somsale would be

competing boch as for refucredit rating

vestors onds will reqical structure

ctural featurevariable rate

e or not offerarticipation bction is signifil investors isis required

on Authorityf this methother methodsnvestment ra

valuate each

participate ine of bond os or notes.

ccompanied debt service

me securities e preferred ar

onds is highundings

g

quire complee, political sues are non-se bonds, or w

red by underwritficantly larges expected to

y may elect od is likely ts of debt issuate as the app

method of

n informatioor note sales

by a findinge payments.

are best soldre as follows

ex explanatioupport, fundinstandard, su

where there is

ters are desireer than normo be high

to privately to result in auance on a npropriate me

issuance bas

onal meeting to the exte

g that demon

DEBT PO

RESOLUTION 1

Pag

d through nes:

ons about thng, or credit

uch as for as the use of d

ed mal

place its dea cost savinget present vaeasure of the

sed on the fa

s or confereent such mee

nstrates the

LICY 15-XX

e 11 of 18

gotiation.

he issuer’s quality

a forward derivative

ebt. Such gs to the alue basis, e discount

actors set

ence calls etings are

projected

X

SAN FRAN

DRAFT

M:\Finance\201

XII. MARKET R

A. Ra

TreTagshadm

B. Tr

Tagw

C. Co

AcoanreevM

D. Re

Taranpshth

E. Ot

FenthquTtow

F. Fe

TfeA

NCISCO COUNT

5\Memos\01 Jan\Poli

RELATIONSHIPS

ating Agencies

The Executivelationships

Transportatiogencies as cirhall: (1) meetdvantageous,

meetings with

ransportation A

The Executivgencies and/

weaknesses an

ontinuing Disc

After enteringomply with tnd reflects neasonable stevent notices

Market Acces

ebate Reportin

The use of borbitrage restrny bond issurovisions of hall take all rhat facilitates

ther Jurisdicti

From time tontities. Whilehese entities, uality financi

Transportatioo the Transp

where necessa

ees.

The Transporee equal to th

Authority by i

TY TRANSPORT


S

s and Investors

ve Director with Moodn Authority rcumstances t with credit , and (2) pri

h agency analy

Authority Comm

ve Director s/or investornd recommen

closure.

g into a Cothe terms of negatively oneps to ensurwith the Mus system (EM

ng.

ond proceedsrictions. Exisues, with re

f the Internareasonable sts accurate, co

ons.

o time, the Te the Transpthe Executiv

ings are donen Authority

portation Autary, through

rtation Authohe recipient’sissuing debt.

TATION AUTHO

t Policy 2015.docx

s.

shall be respdy’s Investor

may, from tidictate. In aanalysts prioior to each ysts in conne

munication.

shall include rs regarding ndations for

ntinuing Dissuch underta

n the Transpre that the Tunicipal SecuMMA).

s and their insting regulatiebate paid eval Revenue Cteps to ensur

omplete calcu

Transportatioportation Auve Director we and that thshall requirethority’s ratinthe use of cr

ority will chas pro rata sh

ORITY

ponsible forrs Service, Sime-to-time, ddition to geor to each sacompetitive ection with th

in the annuthe Transp

addressing a

sclosure undaking. The faportation AuTransportatiourities Rulem

nvestments mions require tvery five yeCode and rere that proceulation, and t

on Authorityuthority will will take all rehe Transportae that all conngs or that t

redit enhance

arge recipienthare of admin

r maintainingStandard & choose to d

eneral commale (competiti

or negotiatehe planned s

ual report toportation Auany weakness

dertaking, thfailure to makuthority. Theon Authority

making Board

must be monthat issuers c

ears and as egulations. Teeds and invtimely rebate

y may issue make every easonable steation Authornduit financinthe credit enement).

ts of debt issnistrative cos

g the TransPoor’s and

deal with onlymunication, th

ive or negotied sale, offesale.

o the Board uthority’s finses.

he Transportke timely filine Executive y’s files timeld’s (MSRB’s)

nitored to encalculate annotherwise re

Therefore, thvestments ares, if necessar

bonds on beffort to fa

eps to ensurerity is insulatngs achieve

nhancement

suance procests incurred b

DEBT PO

RESOLUTION 1

Pag

portation Ad Fitch Ratiy one or twohe Executiveiated) to the

er conference

feedback fronancial stren

tation Authongs must be Director willy annual repElectronic M

nsure complianual rebates required by ae Executive e tracked in ary.

behalf of othacilitate the de that only thted from all ra rating at leis obtained(i

eeds an admiby the Trans

LICY 15-XX

e 12 of 18

uthority’s ngs. The

o of these e Director

extent as e calls or

om rating ngths and

ority shall disclosed ll take all ports and Municipal

ance with related to applicable

Director a manner

her public desires of he highest risks. The east equal including,

inistrative sportation

X

SAN FRAN

DRAFT

M:\Finance\201

XIII. CONSULTA

The Tranprocess th

A. Se

TB

B. Fi

Tdad

Fb

TTT

C. Bo

TTAdocoby

T

NCISCO COUNT

5\Memos\01 Jan\Poli

ANTS

nsportation Ahrough Requ

election of Fin

The ExecutivBoard providi

inancial Adviso

The Transporebt administdvisor(s) shal

a) Experb) Knowc) Experd) Fees a

Financial advie limited to t

a) Evaluab) Monitc) Evalua

bankind) Structe) Prepar

payingf) Advicg) Assisti

The TranspoTransportatioTransportatio

ond Counsel.

TransportatioTransportatioAuthority has

eterminationther documeounsel with ey the Transp

The services o

TY TRANSPORT


Authority shuest for Prop

ancing Team M

ve Director wing final appr

or.

rtation Authtration procell be based o

rience in provwledge and exrience and repand expenses

isory servicesthe followingation of riskstoring markeation of prong firms uring and prration of reqg agent service, assistance ing in prepar

ortation Autn Authority n Authority

n Authority n Authority s met all conn of the proents relatingextensive exp

portation Aut

of bond coun

TATION AUTHO

t Policy 2015.docx

all select its posals.

Members.

will make recroval.

ority shall utesses as prudon, but not limviding consuxperience in sputation of a

s

s provided tog: s and opportting opportuoposals sub

icing quest for prces, printing,and preparat

ration of offi

thority also with object

financial plan

debt will incis authorize

nstitutional aposed debt’s

g to the issuperience in pthority throu

nsel may incl

ORITY

primary con

commendatio

tilize a finandent. Selectiomited to, the

ulting servicesstructuring anassigned pers

o the Transp

tunities assocunities mitted to th

roposals for credit facilittion for presicial statemen

expects thtive advice ns, and be fre

clude a writteed to issue and statutorys federal incuance of debpublic financegh its reques

ude , but are

nsultant(s) by

ons for all fi

ncial advisor on of the Tre following crs to complexnd analyzingsonnel

portation Aut

ciated with de

he Transpor

other finanties, remarketentations witnts

hat its finaand analysisee from any

en opinion bthe propose

y requiremencome tax stabt will be pe and tax issust for propos

e not limited

y competitiv

inancing team

to assist in ransportationriteria: x issuers g complex iss

thority shall

ebt issuance

rtation Auth

ncial servicesting agent seth rating age

ancial advisos, maintain tconflicts of i

by legal couned debt, thants necessaryatus. The apprepared by ues. The cCosal process.

to:

DEBT PO

RESOLUTION 1

Pag

ve qualificatio

m members,

its debt issun Authority’s

sues

include, but

hority by in

s such as truervices, etc. ncies and inv

or will prothe confideninterest.

nsel affirmingat the Transy for issuanc

pproving opinationally-re

ounsel will be

LICY 15-XX

e 13 of 18

ons-based

with the

uance and s financial

shall not

nvestment

ustee and

vestors

ovide the ntiality of

g that the sportation ce, and a inion and ecognized e selected

X

SAN FRAN

DRAFT

M:\Finance\201

a)

b)

c)

d)

e)

XIV. UNDERWR

A. Se

Tn

B. Co

Cqusi

C. Se

Tthgrdi

D. U

InreT

NCISCO COUNT

5\Memos\01 Jan\Poli

) RenderingobligationState of C

) Preparing delivery o

) Assisting paper mem

) Participatirequested;

) Providing proceeds requireme

RITER SELECTIO

enior Manager

The Transporegotiated sal

a) The fib) Democ) Prior kd) The fie) The fif) Qualit

engageg) Financ

o-Manager Se

Co-managers ualifications,ize and the n

elling Groups.

The Transporhat selling grroups from ictates.

nderwriter’s C

n any negotiepresent the

Transportatio

TY TRANSPORT


g a legal opns including wCalifornia law

all necessaryf bonds and

in the prepamorandum;

ing in discus; and

g continuing under applic

ents.

ON

r Selection.

rtation Authe. The criteriirm’s ability aonstrated abilknowledge anirm’s willingnirm’s ability tty and expeement cing plan pre

lection.

will be sele, co-manager

necessity to en

rtation Authoroups are uswithin the

ounsel.

iated sale of e underwriten Authority

TATION AUTHO

t Policy 2015.docx

pinion with whether the

w;

y legal documother obligat

ration of the

ssions with p

advice, as recable laws an

hority shall hia shall includand experienclity to structund experiencness to risk cto sell bondserience of

esented

ected on thers appointednsure maxim

ority may estsed, the Tranpool of und

f Transportater, the leadconsent.

ORITY

respect tointerest paid

ments in contions;

e preliminary

potential inv

equested, onnd the indent

have the righde but not bece in managiure debt issuece with the Tapital and de

personnel a

same basis to specific

mum distribut

tablish sellingnsportation Aderwriters o

tion Authorid underwrite

o authorizatid on the deb

nnection with

y and final o

vestors, insur

n the properture, particul

ht to select ae limited to ting complex es efficiently

Transportatioemonstration

assigned to

as the senitransactions tion of the T

g groups in cAuthority mr from outs

ity debt in wer will mak

ion and valbt is tax exem

h authorizati

fficial statem

rers and cre

r use and adlarly arbitrag

a senior manthe followingtransactions

y and effectivon Authority n of such risk

the Transp

ior manager.will be a fu

Transportatio

certain transamay make appside the poo

which legal cke the appo

DEBT PO

RESOLUTION 1

Pag

lid issuance mpt under fe

on, sale, issu

ments and co

dit rating ag

dministrationge tracking an

nager for a g:

vely

k

portation A

. In additionunction of trn Authority’

actions. To tpointments ol, as the tr

counsel is reointment, su

LICY 15-XX

e 14 of 18

of debt ederal and

uance and

ommercial

gencies, if

of bond nd rebate

proposed

uthority’s

n to their ransaction s bonds.

the extent to selling

ransaction

quired to ubject to

SAN FRAN

DRAFT

M:\Finance\201

E. U

F. Ev

Tfooan

Fre

G. Sy

Fdensa

H. De

TthT

I. D

Aagmagadb

NCISCO COUNT

5\Memos\01 Jan\Poli

nderwriter’s Da) The T

compaTranspmanagphase

b) All feecap ocommsubmiadditio

valuation of Fin

The Transporollowing: cosf the overallnd sales cred

Following eacesults of the

yndicate Polici

For each negoescribe the nsure receiptale prior to th

esignation Pol

To encouragehe Transport

The Transpora) Equitab) Compc) Within

ordersAutho

isclosure by Fi

All financing greements w

may vary depgreements bdvice which e perceived a

TY TRANSPORT


iscount. Transportatioarable issues portation Augement fee. Tof the transa

es and allocan manageme

municated to it an itemizedonal expense

nancing Team

rtation Authsts of issuancl interest cos

dits.

ch sale, the Tsale to the B

ies.

otiated transdesignation t of each mehe sale date.

icies.

e the pre-matation Authortation Authoably allocate ply with MSRn 10 workings, allocationsority’s sale.

inancing Team

team membewith other finpending on te permitted is solely in thas a conflict o

TATION AUTHO

t Policy 2015.docx

on Authority in the markeuthority willThe determiaction. tion of the ment fee, expall parties by

d list of expees must be su

Performance.

hority will evce, including st and on a

Transportatioard.

action, the Epolicies govember’s ackn

arketing efforority’s bonds ority shall reqbonds to oth

RB regulationg days after ts and other

m Members.

ers will be renancing teamthe nature owhich could

he Transportof interest.

ORITY

will evaluateet. If there arl determine nation will b

management enses and uy the Transpenses chargedubstantiated.

valuate each underwritersmaturity-by-

ion Authorit

Executive Diverning the unowledgemen

rts of each mwill be net

quire the seniher managersns governing the sale dater relevant in

equired to prm members af the transacd compromitation Autho

e the proposre multiple uthe allocati

be based upo

fee will be dunderwriter’sportation Aud to member

bond sale as’ compensat-maturity bas

ty shall prov

irector will pupcoming sant of the syn

member of tdesignated, ior managers and the sellthe priority o

e, submit to tnformation p

rovide full anand outside ction. Howeise the firm’

ority’s best in

sed underwriunderwriters iion of fees on participati

determined p counsel wi

uthority. Thers of the und

after its comtion, pricing sis, and the d

vide a post-s

prepare syndiale. The Exendicate polic

the underwriunless otherto:

ling group of orders andthe Executivpertaining to

nd complete parties. The

ever, under n’s ability to

nterests or wh

DEBT PO

RESOLUTION 1

Pag

iter’s discounin the transawith respec

ion in the st

rior to the saill be establi senior manaderwriting gr

mpletion to aof the bondsdistribution

ale evaluatio

icate policiesecutive Direccies for the u

iting team, orwise express

d allocationsve Director ao the Trans

disclosure, re extent of dno circumstaprovide ind

hich could re

LICY 15-XX

e 15 of 18

nt against ction, the ct to the tructuring

ale date; a shed and ager shall

roup. Any

assess the s in terms of bonds

on on the

s that will ctor shall upcoming

orders for sly stated.

a detail of sportation

relative to disclosure ances will dependent easonably

SAN FRAN

DRAFT

M:\Finance\201

Arbitrage. interest eregulationexempt m

Balloon Mpercentag

Bullet Mat

Call Provisoutstandipar.

Capitalizedfor a spec

Commerciaand usual

Competitivsubmit se

Continuingwhich porespect to

Credit Enmost comlines of cr

DBE. Dipolicy.

Debt Servipledged r

Deep Disc

Derivativesone or mbased upoforeign ex

Designatiosyndicateallocated designatioDesignate

Escrow. Aissue.

NCISCO COUNT

5\Memos\01 Jan\Poli

The differenearned by ins govern arbmunicipal sec

Maturity. A lage of the prin

turity. Maturi

isions. The tering issue of b

d Interest. A pcific period o

al Paper. Verylly backed by

ve Sale. A salealed bids to

g Disclosure. Totential inveso the securiti

nhancement. Crmmon creditredit.

sadvantaged

ice Reserve Funrevenues are

count Bonds. B

s. (1) Financimore underlyi

on notional axchange rate

n Policies. Ou is oversubscamong the

on policy. Thed orders and

A fund establi

TY TRANSPORT


nce between investing thebitrage earne

curities.

ater maturityncipal amoun

ty for which

rms of the bobonds prior

portion of thof time. Inter

y short-term, y a line of cre

e of securitipurchase the

The principlestors would es be made a

redit supportt enhancemen

Business En

nd. The fund insufficient t

onds that are

ial instrumenng index or amounts whos, equities or

utline as to hcribed. The s syndicate. he highest prd Member or

ished to hold

TATION AUTHO

t Policy 2015.docx

the interest e security ded pursuant t

y within an nt of the orig

there are no

ond contractto their state

he proceeds orest is commo

unsecured pedit with a ba

ies by an isse securities in

e that accurabe likely to

available on a

t purchased nts consist o

nterprises as

in which moto satisfy the

e priced for s

nts whose retsecurity, andose value is dr commoditie

how an invesenior managThere are triority is giverders are give

d moneys ple

ORITY

GLOSSARY

paid on thedebt proceedto the investm

issue of boginal issue.

o sinking fund

t giving the ised dates of m

of an issue thonly capitaliz

promissory nank.

suer in whichn contrast to

ate and como consider man ongoing b

by the issueof bond insu

defined by

oneys are pladebt service

sale at a subs

turn profile id may includederived fromes).

estor’s order ging underwrthree primaren to Groupen the lowes

edged and to

an issue of tds in higherment of on t

onds that co

d payments p

ssuer the righmaturity at a

hat is set asidzed for the c

notes issued i

h underwritea negotiated

mplete informmaterial in mbasis.

er to raise thurance, direct

the Transpo

aced which me requiremen

stantial discou

s linked to, oe a leveragin

m an underlyin

is filled whriter and issury classificatip Net orderst priority.

be used to p

tax exempt sr-yielding tathe proceeds

ontains a dis

prior to the s

ht to redeemspecific pric

de to pay intonstruction p

in either regi

ers or syndid sale.

mation matermaking inves

he credit ratit or standby

ortation Auth

may be used nts.

unt from the

or derived frong factor, or ng index or s

hen a maturituer decide shions of ord; the next pr

pay debt serv

DEBT PO

RESOLUTION 1

Pag

ecurities debaxable securi

from issuan

sproportiona

stated maturi

m all or a portce, usually at

erest on the period of the

stered or bea

cates of und

rial to the trtment decisi

ting of the isy letters of cr

hority’s curr

to pay debt

eir face or pa

om, the mov(2) financial security (inter

ty in an undhow the bondders, which riority is give

vice on an ou

LICY 15-XX

e 16 of 18

bt and the ities. IRS ce of tax-

tely large

ity date.

tion of an or above

securities e project.

arer form,

derwriters

ransaction ions with

ssue. The redit, and

rent DBE

service if

ar value.

vement of contracts rest rates,

derwriting ds will be form the en to Net

utstanding

SAN FRAN

DRAFT

M:\Finance\201

Expenses. DTC chacomputer

Grant Anprojects,

Grant Anto fund tr

Letters of Cspecified

Managemethe struct

Members. U

Negotiatedpursuant

Original Ioffering p

Original Isamount a

Pay-As-Yobligation

Present Va

Private Plopposed

Rebate. A pay the IRbond yielprofit pen

Sales Tax for operasources.

Selling Grrather as distributio

Syndicate Pprice limi

Transportathe Unite

Underwriteto investo

NCISCO COUNT

5\Memos\01 Jan\Poli

Compensatearges, travelr time and po

nticipation Notwhich are pa

nticipation Reveransportation

Credit. A banamount of f

ent Fee. The fturing phase

Underwriter

d Sale. A meto which suc

Issue Discount.price at the ti

ssue Premium. at the time it

You-Go. An issns.

Value. The cur

lacement. The to being pub

requirementRS an amounld calculatednding payme

and Revenue Aating purpos

roups. The grthose who

on at the pub

Policies. The itations and m

ation Infrastruced States Dep

ter. A dealer tors.

TY TRANSPORT


es senior m, syndicate eostage.

tes (GANs). Said from the

enue Vehicle Fn projects tha

nk credit facilfunds for a lim

fixed percentof a transact

s in a syndica

ethod of salch underwrit

. The amounime it is origi

The amountis originally o

suer elects to

rent value of

original plablicly offered

t imposed bynt equal to it

d pursuant toent subject to

Anticipation Nses, which ar

roup of secureceive secu

blic offering

contractual omarket transa

cture Finance Ipartment of T

that purchase

TATION AUTHO

t Policy 2015.docx

anagers for expenses, de

Short- term proceeds of

Financing (GAat are secured

lity supportinmited term.

tage of the grtion.

ate other than

le in which ter will purch

nt by whichinally offered

t by which thoffered to an

o finance a p

f a future cas

acement of d or sold.

y the Tax Rets profit earno the IRS coo certain exce

Notes (TRANre paid from

urities dealersurities less thprice.

obligations pactions.

Innovation ActTransportatio

es new issue

ORITY

out-of-pockealer fees, o

notes issuedState or Fed

ARVEE) are d by certain

ng the payme

ross spread w

n the senior

the issuer chase and mark

h the originad to an invest

he public offn investor.

project with

h flow.

an issue wit

eform Act oned from inveode togethereptions.

Ns). Short-termm the procee

s who partiche selling co

placed on th

ct (TIFIA). Loon for transp

s of municip

ket expenses overtime exp

d by the goveral grants o

bonds issuefederal grant

ent of bonds

which is paid

underwriter.

chooses oneket the bond

al par amountor.

fering price o

existing cash

th one or a

f 1986 wherestment of br with all inc

m notes issueds of sales

cipate in an oncession fro

he underwriti

oans and loaportation pro

pal securities

including: upenses, comm

vernment unf any type.

ed by the Stats.

wherein the

d to the man

.

e underwriteds.

nt of an issu

of an issue e

h flow as opp

a limited num

reby the issuebond proceedcome earned

ued by a govtax or other

offering notom the mana

ing group re

an guaranty ojects of regio

from the Is

DEBT PO

RESOLUTION 1

Pag

underwritersmunication

nit, usually fo

ate and enabl

e bank agrees

naging underw

er to negotia

ue exceeds i

xceeds its or

posed to issu

mber of inv

er of the bods at a yield ad on the acc

vernment unir anticipated

t as underwraging underw

elating to dis

program proonal importa

ssuer and res

LICY 15-XX

e 17 of 18

counsel, expenses,

for capital

le entities

s to lend a

writer for

ate terms

its public

riginal par

uing debt

vestors as

nds must above the cumulated

it, usually d revenue

riters but writer for

tribution,

ovided by ance.

sells them

SAN FRAN

DRAFT

M:\Finance\201

UnderwriteIssuer an

Variable Rformula o

NCISCO COUNT

5\Memos\01 Jan\Poli

ter’s Discount. d the price at

Rate Debt. Anor other stan

TY TRANSPORT


The different which they

n interest ratdard of meas

TATION AUTHO

t Policy 2015.docx

nce between are reoffered

te on a secursurement as,

ORITY

the price at d to investor

rity, which chstated in the

which the Urs.

hanges at inte bond contr

Underwriter

tervals accorract.

DEBT PO

RESOLUTION 1

Pag

buys bonds

rding to an in

LICY 15-XX

e 18 of 18

from the

ndex or a

SD

M

I

I

I

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

. INTRODUCT

The Fiscaday-to-dathe San FconsistenPropositiaccountin

I. SCOPE AND

The Fiscapplicableunless spwith, the Policyies.(Board). Rfor strucobjectivePolicy wiAny chan

II. ANNUAL BU

The Tranyear. ThedisbursemdetermineTransporpolicies. through Jinvolved

A. PREPAR

The Eeach incomOperexpenFrancTransdetailitems

CO COUNTY TR

mos\01 Jan\Policies\At

TION

al Policy is day operationsFrancisco Cont with theion K Sales ng and financ

D AUTHORITY

cal Policy ape to the opeecifically proTransportat

. Overall polResponsibilitturing, imples, shall lie wiill be reviewenges to the po

UDGET PROCES

nsportation Ae purpose oment of Traned by the Brtation AuthoThe TranspJune 30 of in the develo

RATION AND REVIE

Executive Dfiscal year. T

me, Administrating Reservnditure progcisco Congessportation Fuled listing of. The draft b

RANSPORTATIO

tt 05 Draft Fiscal Policy

designed to gs, annual budounty Transpe Transporta

Tax Expencial managem

pplies only erations of aovided. The Ftion Authoritlicy directionty for implemementing, anith the Transed and updatolicy are subj

SS

Authority Bof the Annua

nsportation ABoard and aority’s invest

portation Authe followin

opment of th

EW OF A DRAFT B

irector is chaThe draft butrative Operave, and a singramming rostion Manageund for Cleaf the capital budget may a

ON AUTHORITY

y 2015.docx

FISCA

guide decisiodget developportation Autation Authonditure Plan,ment practice

to the operany project sFiscal Policy ty’s Strategic

n shall be thementation of nd managingsportation Auted as requireject to appro

oard shall adoal Budget is Authority’s reas set forth tment, debt,

uthority’s fiscng calendar he final budge

BUDGET

arged with rdget will conating Expensngle line itemoles as Propement Agencr Air (TFCAprograms an

also include o

Y

AL POLICY

ons pertainingment and sathority (Tranority’s adop, federal ands.

rations of thsponsoring ais separate fr

c Plan, adopte responsibilif the Policy, ag the Transputhority Exeed or deemedoval by the Bo

opt an Annuto provide

evenues in acin other po

, procuremencal year exteyear. The seet.

esponsibilitynsist of line ses, Debt Serm for each position K Scy (CMA); anA). Supplemennd projects thother function

g to internal ales tax revennsportation Apted Admind state regu

he Transporagencies of tfrom, but shoted Debt Poity of the Trand day-to-dportation Au

ecutive Direcd advisable aoard at a pub

ual Budget bmanagemen

ccordance wiolicies includnt and disadends from Jections below

y for the prepitems for Re

rvice Expensof the TranSales Tax (

nd San Francintal budget dhat support nal categorie

FISC

RES

l fiscal managnue allocationAuthority). Itnistrative Coulations, and

rtation Auththe Transporould be appliolicy, and adoransportationay responsibuthority’s po

ctor (Executivat least once blic meeting.

by the beginnnt guidance

with the goalsding, but nodvantaged buJuly 1 of eaw further d

paration of aevenues, inclses as applica

nsportation A(Prop K) Aisco Programdocumentatiothe Capital

es as deemed

CAL POLICY SOLUTION 15-XX

Page

gement, inclun requirement is intended ode, the cud general pru

hority and isrtation Authied in conjunopted Invest

n Authority Bbility and autholicies, goalsve Director).every three y

ning of each and control and objectiv

ot limited tousiness enterach calendarefine the pr

a draft budgeluding investable, ProgramAuthority’s cdministrator

m Manager foon shall provExpenditure appropriate

1 of 6

uding nts of to be

urrent udent

s not hority, nction tment Board hority s, and . This years.

fiscal over

ves as o, the rprise r year rocess

et for tment m and capital ; San or the vide a es line .

SD

M

IV

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

B. PUBLIC

The draftof a publby the BSection 6hearing, ahearing.

C. ADOPTI

As eAuthoand cparamRevieadopt

The fby Jubudgeincludbudge

D. AMEND

Excepreviewamenamenamenof theamenresolu

V. BUDGET RE

A. ADMINI

Admimaintsuch Speci

1. SATPthlimbal

CO COUNTY TR


C REVIEW OF DRA

t budget shallic hearing atoard. Notice

6061 of the Cand the draf

ON OF A FINAL BU

stablished bority Finance

capital budgemeters (spendew of a Dration of the dr

final budget fune 30 of theet by June 3ding debt seret will be ado

DMENTS TO THE A

pt as otherww or reopen

nded during tndment durinndments to the proposed a

nded final buution.

EQUIREMENTS

ISTRATIVE OPERAT

inistrative otenance of thas staff sala

ific requireme

ALARIES AND BENThe Board shPursuant to the Californiamit of one penefits of Prll other staff

RANSPORTATIO


FT BUDGET

ll be presentet a publicly ne of the timeCalifornia Goft budget sha

UDGET

by the Transe Committeet of the Tranding limits)

aft BudgetPrraft budget t

for a given fie prior fisca

30, it must arvice. The coopted.

DOPTED BUDGET

wise providedner after the the fiscal yeang the fiscal he adopted fiamended adoudget to the

S

TING EXPENSES

operating exhe Transporaries, staff bents with res

NEFITS hall budget ahe Transpor

a Public Utilitpercent (1%) rop K prograexpenses.

ON AUTHORITY

y 2015.docx

ed at a publinoticed Trane and place overnment Call be availab

sportation Ae shall be resnsportation Aby budget li

reparation ano the Board.

iscal year shaal year. If thedopt a resol

ontinuing reso

d in this sectiBoard resol

ar to reflect year. The E

final budget; topted final bue Board. Th

xpenses inclrtation Authoenefits, offic

spect to certa

annually for rtation Authoties Code), thof the annua

am administr

Y

c hearingis ssportation Aof the publi

Code no laterble for publi

Authority’s Asponsible forAuthority. Thine item as dnd Review o

all be approvee Transportalution to conolution shall

ion, the adoplution has pactual reven

Executive Dithe Finance udget, and fohe amended

lude all expority, includice lease costain budgeted

the compenority’s enablihe Transportal net amounrative person

subject to puAuthority meic meeting shr than the 15ic inspection

Administrativr review of thhe Finance Cdetailed in Sof a Draft B

ed and adoptation Authorntinue servicinclude a da

pted final bupassed. The nues and expirector shall Committee s

or making a rfinal budget

penses relating, among ots, equipmenexpenses are

nsation (salaring legislatiotation Authont of Prop Knnel, and will

FISC

RES

ublic considereeting prior thall be publi5th day priorn at least 15

ve Code, thhe proposed

Committee shSection III.ABudget, and

ted by resolurity is unableces and paymate certain by

udget is not adopted fina

penses incurrbe responsib

shall be resporecommendat shall be ad

ted to the others, othernt rental, supe set forth be

ries and benon (Sections ority will obsK revenues fol follow appl


Page

ration in the to being apprished pursuar to the day odays prior t

he Transportd overall operhall set the b

A. Preparationshall recomm

ution of the Be to adopt ament of expey which the a

subject to fual budget mred to the dable for proponsible for re

ation regardindopted by B

operations r related exppplies, and telow.

nefits) of its 131100 et s

serve the stator the salarielicable statute

2 of 6

form roved ant to of the to the

tation rating udget n and mend

Board a final enses, nnual

urther ay be ate of

posing eview ng the Board

and penses travel.

staff. seq of tutory es and es for

SD

M

V

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

2. EMTlinexpTdfu

3. PEAesmnnexnfral

B. DEBT S

Propofinancmust Strate

C. CAPITA

CapitAuthoPropodocumthe C

D. PROGRA

The Tperceoccurprovisepar

E. OTHER

The Eneces

V. CAPITAL EX

As proviCommitt

CO COUNTY TR


MERGENCY EXPENThe Executivne items by uxpenditures ublic, or to

The Executivays of the emuture recomm

ETTY CASH A petty cash stablished a

miscellaneousot exceed twot be limitexpenses, andecessary androm time tollocation from

SERVICE

osed debt scings within adhere to t

egic Plan and

L EXPENDITURES

tal Expenditority’s capitaosition AA Amentation sh

Capital Expen

AM AND OPERATI

Transportatioent (15%) ofrring during ided in this Pate budget lin

FUNCTIONAL CAT

Executive Dssary.

XPENDITURE A

ided by theee shall be

RANSPORTATIO


NDITURES e Director isup to seventthat are madrepair/restor

ve Director smergency exmended actio

revolving aand maintains expenses owo hundred ed to, outsidd other pracd conveniento time to sem the operat

ervice includthe fiscal ye

the policies od the Transpo

tures shall bal expenditurAdministratohall provide anditures line i

NG RESERVE

on Authorityf the estimatthe budgete

Policy, will dene item.

TEGORIES

Director may

ALLOCATIONS

e Transporta responsible

ON AUTHORITY

y 2015.docx

s authorized ty-five thousade to protecre damaged/shall submit xplaining the ons.

ccount in thned by the f the Transpand fifty dolde photocopctical expenst for proper ek reimbursting budget.

des debt serear. Decisionoutlined in tortation Auth

be listed as re programmor, and CMAa detailed lisitems.

y shall allocaed net annud fiscal yearemonstrate th

y designate o

ation Authoe for recom

Y

to exceed thand dollars ($t the health,

/destroyed pa report to tnecessity of

he amount oExecutive

portation Aullars ($250). pying expenses as determadministratioement of th

rvice of outns to fund cathe Transpohority Debt P

a single linming roles, wA and TFCA

ting of the c

ate not less al sales tax r. The adoptehe percentag

other functio

rity’s Adminmmending a

he overall adm($75,000), for, safety, and roperty for tthe Finance f the action,

of one thousDirector f

uthority. IndiSuch miscel

nses, office mined by thon. The Exehis account

tstanding deapital expendrtation AuthPolicy.

ne item for which current

local admincapital progra

than five perevenue as aed final budge and amou

onal categori

nistrative Coallocation of

FISC

RES

ministrative or the actual cwelfare of t

the TranspoCommittee a listing of

sand dollars for the purividual expenllaneous expsupplies, mehe Executivecutive Directo the maxi

ebt as well ditures throu

hority’s most

each of thtly are Prop

nistrator. Supams and pro

ercent (5%) a hedge againdget, as it maunt set aside i

ies as deeme

ode, the Plf funding f


Page

operating expcost of emergthe agency ortation Authwithin thirtyexpenditures

($1,000) mrposes of pnditures shallenses includeeting and e Director tctor is authoimum balanc

as of anticiugh debt issut current ado

he TransportK Administ

pplemental bojects that su

and up to finst an emergay be amendin the reserv

ed appropria

lans & Progfor those c

3 of 6

pense gency or the hority. y (30) s, and

ay be paying l may

de but travel to be orized ce by

ipated uance opted

tation trator, udget pport

fifteen gency

ded as ve as a

ate or

grams capital

SD

M

V

V

V

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

expenditureviewingresolutionstrategic categorieencompaas necessFiscal andprogramsStrategic

Changes revision uthat excebudget toallocated respective

For allocmaximumyear of aCapital Ereimburseactions. Tadopted i

VI. DEBT ISSU

As defineCommittAuthorityAuthorityfor financ

VII. INVESTME

As defineFinance CAuthorityTransporinvestmen

VIII. REPORTING

The ExecTransporhave beenand the Transpor

CO COUNTY TR


ure programsg the Plans n. The Transplan that des, funding ass the period

sary. The Strd Debt Polics and projecPlan in force

in the capitaunless such ceed the amouo be recomcapital fund

e Capital Exp

cations with m reimbursemllocation sha

Expendituresement schedThe Transpoin the origina

UANCE

ed by the Traee shall be ry. Please refey, for the debcing eligible p

NTS

ed by the TrCommittee shy funds. Pleartation Authnt-related act

G REQUIREME

cutive Directrtation Authon implementTransportati

rtation Auth

RANSPORTATIO


s and project& Programssportation Aerives from tand deliveryd remaining orategic Plan cies to ensurects. No alloce at the time

al expenditurchanges exceunt of the b

mmended by ding for eacpenditures bu

multi-year ment level peall count agas line item fdule amountortation Authal and any su

ansportationresponsible fer to the curbt issuance pprograms an

ransportationhall be respoase refer to hority, for tivities of the

NTS

tor shall repority’s actualted pursuantion Authoritority’s finan

ON AUTHORITY

y 2015.docx

ts in the ados Committee

Authority willthe provisiony priority oon the Prop and its govee the proper cations shall of the alloca

re supplemeneed authorizaudget line itthe Finance

ch Transportudget line ite

cash distriber fiscal year, ainst the Capfor subsequs committedhority will n

ubsequent allo

Authority’s for oversight rent version

program guidd projects.

n Authority’sonsible for ovthe current the investm

e Transporta

ort to the Fil expendituret to this Fiscty investmencial transact

Y

opted final bue’s recommel adopt, mainns of the Prf projects tK Expendit

erning policieallocation ofbe approve

ation.

ntal budget dation for thetem will reque Committeetation Authoem for the fis

utions, the and only the

pital Expendient year ann

d through thnot guaranteeocation actio

Administratiof the debt of the Debt

delines regard

s Administraversight of thversion of t

ment progration Authori

inance Commes, budgetary

cal Policy, thnt program. tions and re

udget. The Bendation andntain and perop K Expento be fundeture Plan andes shall be uf funds for ad that are in

documentatioe respective buire an amene and adoptority role shscal year.

allocation re reimbursem

ditures line itnual budget

he original ane reimbursemons.

tive Code andt issuance prt Policy mainding the issua

ative Code ahe investmenthe Investm

am guidelineity.

mittee at leary performanhe Transporta

The Financcords to be

FISC

RES

Board shall bd allocating eriodically upnditure Planed. The Strd shall be upused in comand timely finnconsistent w

on do not cobudget line itndment to thted by the

hould be no

resolution shment amounttem for that s shall reflend any subs

ment levels h

d its Debt Pogram for thntained by thance and ma

and its Invesnt program f

ment Policy mes regarding

ast on a quarnce, authorization Author

ce Committee audited by


Page

be responsibproject fund

pdate a multn and outlinerategic Plan pdated period

mbination witnancing of elwith the ado

onstitute a btem. Any chhe approvedBoard. The greater than

hall spell out authorized ibudget year

ect the maxisequent allochigher than

Policy, the Finhe Transporthe Transportanagement of

stment Policyfor Transportmaintained bg all funds

rterly basis ozed variancesrity debt pro

ee shall causy an indepen

4 of 6

le for ds by ti-year es the

shall dically th the ligible opted

udget anges

d final total

n the

ut the in the r. The imum cation those

nance tation tation f debt

y, the tation

by the and

on the s that ogram se the ndent,

SD

M

IX

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

certified presults of

X. PROCUREM

It shall beand servirequire a local new131285 ashall be aemergencAuthorityby a twomaterials

Procurembe award

The seleclandscapemanagemqualificatithe Trans

All procuinformal competiti

A. DISADV

Any pappliccontr

B. CONFLI

No eor in intereofficecontr

C. CONTRA

Apprgoodthousexecuprovibudge

CO COUNTY TR


public accouf the audit.

MENT OF GOOD

e the policy oices. Procureformal bid p

wspapers or nd 131286, fawarded to tcy declared by, or, if after

o-thirds vote may be purc

ments of supped to the low

ction of proe architectu

ment firms, sions necessasportation Au

urement tranquote, or b

ion.

VANTAGED BUSINE

procurementcable non-dracting policie

CT OF INTEREST

mployee, offthe award o

est, real or aer, or agent ractors, poten

ACTS

oval of the Bs or professiosand dollars ute all such ided that theet, as amend

RANSPORTATIO


untant firm a

DS AND SERVIC

of the Transpements in amprocess inclu

other mediformal procuthe lowest reby the vote rejecting bidof all of its

chased at a lo

plies, equipmwest responsi

ofessional seral, engineeshall be on ry for the sauthority’s Pro

nsactions, regy negotiation

ESS ENTERPRISE R

t whether foriscriminationes in place at

ficer or agenr administratapparent, as shall solicit

ntial contract

Board is requonal services($75,000) in contracts th

e amounts ared in accorda

ON AUTHORITY

y 2015.docx

at least annua

CES

portation Aumounts greatuding advertia outlets. P

urement of suesponsible bof two-thir

ds received, s voting memower price in

ment, and maive bidder fo

ervices, of suering, envirothe basis of

atisfactory peocurement P

gardless of dn, shall be c

REQUIREMENT

rmal or inforn, minority/t the time of

nt of the Trantion of a condefined by or accept g

tors or partie

uired prior tos that authoria fiscal year.

hat authorizee consistent ance with thi

Y

ally and a rep

uthority to coter than sevesing requestsursuant to Cupplies, equi

bidder after cds of the vothe Transpo

mbers that, ithe open ma

aterials in amllowing an in

uch as legal,onmental, laf demonstraterformance oPolicy.

dollar value conducted in

rmal shall co/local/women

procuremen

nsportation Antract if such

state statutegratuities, faves to sub-agre

o the executioizes payment The Execut

e payments nwithwere idis Policy for

port to be su

ompetitively enty-five thos for bids anCalifornia Pipment, and competitive oting memb

ortation Authin its opinioarket.

mounts equalnformal com

, financial aand surveyinted compete

of the service

and regardlen a manner

omply with thn-owned bu

nt.

Authority shh participatioe and applicvors or anytheements.

on of any cots that in thetive Directornot in exces

dentified and the current f

FISC

RES

ubmitted to

bid the procousand dolla

nd/or proposPublic Utilitie

materials in beddingbidd

bership of thhority determon the suppli

l to or less tpetitive bid p

advisory, privng, or conence and ones required in

ess of wheththat promot

he Transporusiness and

hall participatn would resu

cable case lawhing of mon

ontract for th aggregate exr is authorizess of $75,00included in

fiscal year or


Page

the Board o

urement of gars ($75,000)sals in appropes Code Secexcess of $7

ding, except he Transportmines and deies, equipme

than $75,000process.

vate architecnstruction prn the professn accordance

her by sealedtes free and

rtation Authoother appli

te in the seleult in a conflw. No emplnetary value

he procuremexceed seventyed to approv00 per fiscal

the adoptedr, in the even

5 of 6

on the

goods shall priate ctions 75,000

in an tation clares

ent or

0 shall

ctural, roject sional e with

d bid, open

ority’s icable

ection lict of loyee, from

ent of y-five

ve and year,

d final nt that

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

the cExecusimilaExecuof theadopt

The fBoardfor pras app

No cAuthoPlan. restric

The Taccouinvestrequir

CO COUNTY TR


contract wasutive Directoar scope andutive Directoe amendmented final bud

foregoing nod approval, arograms andproved by sp

contractual oority in exceAll expendi

ctions placed

Transportatiunting servictment and dred by the Tr

RANSPORTATIO


s not complor is authorid nature, anor may execunt does not exdget.

otwithstandinall standard gd projects defpecific Board

obligations, ass of its abiliitures shall cd on the use o

on Authorityces. Said co

disbursement ransportation

ON AUTHORITY

y 2015.docx

leted in a szed to amen

nd to increasute such amexceed $75,00

ng, the Execugrant agreemfined in the

d action.

administrativity to pay, ascomply with of said funds

y shall estabontracts shal

of funds, pan Authority.

Y

single fiscal nd contracts se or reduceendments wit00 and so lon

utive Directoents based uadopted fina

e or capital, s defined by

all federal, s.

blish contracll include payroll functio

year, the coto extend ti

e the total athout prior B

ng as the ame

or is authoriupon a grant al budget sup

shall be assthe adopted state, and lo

cts for bankiprovisions foons, and ong

FISC

RES

ontiguous fiime, to add amount of tBoard approvendment is c

ized to execuaward to a s

pplemental d

sumed by thfinal budget

ocal statutor

ing, investmor the receigoing financi


Page

fiscal year(s).or delete tasthe contract.val, if the amonsistent wit

ute, without sponsoring agdocumentatio

he Transportt and the Strary and other

ment and stanipt, maintenial data repo

6 of 6

. The sks of . The

mount th the

prior gency on, or

tation ategic

r legal

ndard nance, orts as

SAN FRAN

DRAFT

M:\Finance\201

I. IN

Tfoac

TApino53re

II. SC

TT

BApIninInIn

III. PR

InInmtacoa st

IV. O

Tar

1)

2)

NCISCO COUNT

5\Memos\01 Jan\Poli

NTRODUCTION

The purpose or a prudent ctivitiesproce

The investmeAuthority (the

rovisions of n accordancef Chapter 4 3600 et seq.)elevant bond

COPE

This policy Transportatio

Bond proceeAuthority Boa

ermitted invn addition tonvestment annvestment Pnvestment Po

RUDENT INVES

n managing nvestor” stan

managing an oaking into aconditions, thprudent per

tewardship o

BJECTIVES

The primary ore:

) Safety.Investto ens

) Liquiditliquid flow r

TY TRANSPORT

cies\Att 06 Draft Inves

of this docuand systema

edures.

ent policies ae Transportastate law and

e with the Trof Part 1 o

). The investd documents.

covers all n Authority.

eds shall beard- approveestments, bo

o the securitind forward Policy, the policy do not

STOR STANDAR

its investmendard as statoverall portfcount the pr

he anticipatedrson acting inof funds of a

objectives, in

Safety of ttments of thure preserva

ty. The Tranto enable th

requirements

TATION AUTHO

stment Policy 2015.do

INVES

ument is to seatic investmen

and practicesation Authorid to prudentransportationf Division 2tment of bon

funds and

e invested ined (Board) boond proceedsies listed in Sdelivery agr

percentage oapply to bon

RD

ent program, ted in Gove

folio. Investmrevailing circud needs of thn a fiduciary like characte

n priority ord

the principale Transporta

ation of the p

nsportation Ahe Transpor.

ORITY

ocx

STMENT PO

et out policient policy and

s procedures ity) are, in evt money mann Authority’s2 of Title 5 ond proceeds

investment

n the securond documens will be inveSection IX breements. Nor dollar po

nd proceeds.

the Transpoernment Codments will beumstances, in

he Transportacapacity and

er and purpos

er, for the Tr

l is the foreation Authorprincipal of th

Authority’s rtation Auth

OLICY

es and proced to organize

of the San very case, sunagement pris Investmentof the Califowill be furth

t activities

rities permitnts. If the boested in the sbelow, bond

Notwithstandiortfolio limi

ortation Autde Section 53e made with cncluding, buation Authord familiar witse.

ransportation

emost objectrity will be uhe funds und

investment ority to mee

INV

edures that ee and formali

Francisco Cubject to andinciples. All ft Policy, and ornia Governher restricted

under the

tted pursuanond documensecurities perproceeds maing the otheitations liste

thority will o3600.3, applcare, skill, pr

ut not limitedrity and otheth those mat

n Authority’s

tive of the undertaken inder its contro

portfolio wiet its reason

VESTMENT PO

RESOLUTION 1

Pa

enhance oppize investmen

ounty Transd limited by afunds will beapplicable p

nment Coded by the prov

jurisdiction

nt to Transnts are silentrmitted by thay also be iner provisioned elsewhere

observe the lied in the corudence and d to general eer relevant factters would u

s investment

investment n a manner tol.

ill remain sunably anticipa

LICY 15-XX

ge 1 of 11

ortunities nt-related

sportation applicable e invested provisions e (Section visions of

n of the

sportation t as to the his policy. nvested in ns of this e in this

“Prudent ontext of diligence, economic ctors that use in the

t activities

program. that seeks

ufficiently ated cash

SAN FRAN

DRAFT

M:\Finance\201

3)

V. D

MAABinAinAby

VI. ET

Oplaim

VII. IN

TIn

VIII. AU

TfiTsethand

IX. PE

CpTbunfi

PwAre

NCISCO COUNT

5\Memos\01 Jan\Poli

) Return managand ecparam

ELEGATION OF

Management’sAuthority BoAuthority TreBoard may rennvestment trAuthority manvestment dAuthority. Th

y the Execut

THICS AND CO

Officers, androcess will n

awful executmpartial decis

NTERNAL CONT

The Transpornvestment Po

UTHORIZED FIN

The Executivinancial serv

Transportatioelected on thhe State of Cnd other reqeposit will be

ERMITTED INV

California Gourchase by

Transportatioelow. The pnreasonable inancial instit

Percentage limwhere indicateAuthority is equirement, t

TY TRANSPORT


on Investmeged with theconomic cycl

meters and the

F AUTHORITY

s responsibilard and is heasurer. Pursnew the deleansaction exay retain thecision-maki

he advisor wiltive Director

NFLICT OF INT

d employees anot engage intion of the sions.

TROLS

rtation Autholicy and wit

NANCIAL INSTI

ve Director wvices providn Authority

he basis of cralifornia. Th

quirements ue made excep

VESTMENT INS

overnment Cthe Trans

n Authority portfolio wiland avoidab

tutions.

mitations, wed, apply at tsubject to athe Executiv

TATION AUTHO


ent. The Tre objective oles commense cash flow c

lity for the hereby delegsuant to theegation pursuxcept as prove services oing and to ll follow the .

TEREST

and agents on any personinvestment

hority will esth the applica

ITUTIONS AND

will establishders authoriz

will establishredit worthin

hese include punder Secuript in a qualifi

TRUMENTS

Code Section sportation Aseeks to fur

ll be diversifble concentr

where indicatthe time of pa rating chanve Director w

ORITY

ocx

ransportationof attaining asurate with thcharacteristic

investment pgated to the e requiremenuant to this svided under of an investexecute invepolicy and s

of the Transpnal business program, or

stablish interable requirem

DEALERS

h and maintzed to provh and maintaness, that areprimary dealeties and Excied public de

53601 goveAuthority. Wrther restrictfied by secuation risks r

ed, apply aturchase. In tnge that bri

will notify the

n Authoritya market ratethe Transporcs of the port

program is Executive D

nts of the Cection each ythe limits o

tment advisoestment transuch other w

portation Autactivities thar which cou

rnal controlsments of the

tain a list ofvide investmain a list of ae authorized ers or regionchange Comepository as e

erns and limWithin tho

t eligible inveurity type anregarding spe

t the time othe event a seings it belowe Board of th

INV

y’s investmene of return trtation Authotfolio.

derived fromDirector actiCalifornia Goyear. No per

of this policyor to advisensactions fo

written instruc

thority involvat could conuld impair t

s to ensure California G

f financial inment serviceapproved secto provide i

nal dealers thammission Ruestablished b

mits the invesose investmestment to t

nd institutionecific securit

of purchase. ecurity held bw the minimhe change. Th

VESTMENT PO

RESOLUTION 1

Pa

nt portfoliothroughout bority’s investm

m the Transing as Transovernment Crson may engy. The Transe it with rer the Transctions as are

ved in the innflict with prtheir ability

compliance Government C

nstitutions aes. In addicurity brokernvestment seat meet the n

ule 15c3-1. Nby state law.

stments perment limitatithe investmen, to avoid ty types or i

Rating requby the Transmum specifihe course of

LICY 15-XX

ge 2 of 11

o will be budgetary ment risk

sportation sportation Code, the gage in an sportation espect to sportation provided

nvestment roper and to make

with the Code.

and other tion, the r/dealers, ervices in

net capital No public

mitted for ons, the

ents listed incurring

individual

uirements sportation ied rating f action to

SAN FRAN

DRAFT

M:\Finance\201

bfoan

1

2

3

4

5

6

NCISCO COUNT

5\Memos\01 Jan\Poli

e followed wor the rate dnd the curren

. Unitedwhichand ininvest

. Federaparticiprincipenterpinvest

. Repurpercenrestricare acdeliverhandlesecuritof thequartefluctuaof thebusine

. Obligabondscontrorated organimay b

. RegistCalifopropeauthorthe obstatistithe po

. Bankeare elirated iexceedmore Banke

TY TRANSPORT


will then be droprating rednt market pri

d States Treah the faith annterest. Thered in this cat

al agency ipations, or opal and inte

prises. Thereed in this cat

rchase Agreemntage of the pctions will becceptable cored to the ed under a pties that und funds borro

erly. Since thations, the ine underlying ess day.

ations of thes payable soolled or operin one of thization (NRS

be invested in

tered treasuryrnia, includinrty owned, crity of any obligations areical-rating or

ortfolio that m

ers’ Acceptangible for purin the highesd 180 days mthan 30 perc

er’s Acceptan

TATION AUTHO


decided on a duction, progice of the sec

asury notes, nd credit of tre is no limitegory.

or United other instrumerest by fed

e is no limitategory.

ments not toportfolio thae observed: Oollateral. All Transportati

properly execderlay a repurowed against he market vanvestments in

securities is

e State of Colely out ofrated by the she two highSRO). There n this categor

y notes or bng bonds payontrolled, or

of the other e rated in onrganization (may be inves

nces issued brchase by thest category b

maturity or 4cent of the Tnces of any o

ORITY

ocx

case-by-casegnosis for recurity.

bonds, billsthe United Sttation as to

States govments, includderal agenciation as to

o exceed oneat may be invOnly U.S. Tr

securities uion Authori

cuted tri-partrchase agreethose securi

alue of the un repurchase brought ba

California or f revenues fstate or any lest categorieis no limitat

ry.

bonds of anyyable solely or operated by49 United S

ne of the two(NRSRO). Tsted in this ca

by domestic oe Federal Resby a NRSRO0 percent of

Transportatione commerc

e basis, consecovery or fu

, or certificatates are pledthe percent

vernment-spding those ises or Unitethe percenta

e year duratiovested in this reasury securunderlying rity’s custodity repurchaseement will beities and the vunderlying see agreements ack up to 10

any local afrom a revelocal agency;es by a natiotion as to th

y of the otheout of the revy a state or byStates, in addo highest cateThere is no lategory.

or domestic serve System

O. Purchases f the Transpon Authority’

cial bank.

INV

sidering suchurther rate d

ates of indebdged for the tage of the p

ponsored enssued by or fed States goage of the p

on. There is n category. Thrities or Federepurchase an bank vee agreement.e valued at 1value will be

ecurities is su will be in co

02 percent n

agency withinenue-produci; provided thonally recogn

he percentage

er 49 Unitedvenues fromy a departme

dition to Caliegories by a limitation as

branches of m, the short-te

of Banker’s ortation Auth’s portfolio m

VESTMENT PO

RESOLUTION 1

Pa

h factors as thdropsrating re

btedness, or payment of

portfolio tha

nterprise obfully guarantovernment-sportfolio tha

no limitationhe following eral Agency agreements

ersus paymen. The market02 percent o

e adjusted noubject to dailompliance if

no later than

n the state, ing propertyhat the obliganized statistie of the port

d States in adm a revenue-pent, board, agifornia, provnationally reto the perce

f foreign bankerm paper ofAcceptanceshority’s port

may be invest

LICY 15-XX

ge 3 of 11

he reason eductions

those for f principal at may be

bligations, teed as to ponsored t may be

n as to the collateral securities must be

nt or be t value of or greater less than ly market the value the next

including y owned, ations are ical-rating tfolio that

ddition to producing gency,; or vided that ecognized entage of

ks, which f which is s may not tfolio. No ted in the

SAN FRAN

DRAFT

M:\Finance\201

7

8

9

10

1

12

NCISCO COUNT

5\Memos\01 Jan\Poli

. Commnumbmeet organiassets than ccorpotrust, not limpaper paper outstaportfo

. Mediusecuritcorpoinstitucorpoof meportfo

. FDIClocatematuri

To beassocirating federaCalifoto Secassesscomm

0. Negotcharteunion of dep

1. State obe revmay bmaxim

2. The CCalifolaw truGover

TY TRANSPORT


mercial paperer rating as pall of the ized and opin excess of

commercial pration will bor limited liamited to, ovthat is ratedmay not e

anding paper olio.

um-term corpties with a rations orga

utions licenserate notes wedium-term nolio.

insured or d in Californity or 10 perc

e eligible toation, or fedof not less

al financial rnia’s comm

ction 2906 ofment of th

munities, cons

tiable certificered bank, a

or by a stateposit may not

of Californiaviewed periodbe invested imum allowed

California Asrnia Governust establishernment Cod

TATION AUTHO


r of “prime” provided by acriteria in eerating with

f five hundrepaper, if anye organized wability compaer collateralid “A-1” or exceed 270

of an issuin

porate notesmaximum

anized and ed by the U.S

will be rated innotes will n

fully collaternia. Purchasecent of the T

o receive locderally insure

than “satisfsupervisory

munities, incluf Title 12 of

he insured dsistent with s

cates of depsavings asso

e-licensed brat exceed 30 p

a’s Local Agedically. Therein this categ

d by LAIF.

set Managemnment Code. ed pursuant e of the Sta

ORITY

ocx

quality rateda NRSRO. Teither (1) orin the United million doy, that is ratwithin the Uany, has progizations, lettehigher, or edays’ matur

ng corporatio

s, defined as remaining operating w

S. or any statn a rating ca

not exceed 3

ralized time es of time ceTransportatio

cal agency med industrial factory” in itagency of

uding low- anf the United depositories’ safe and soun

posit or depociation or aanch of a forpercent of th

ency Investme is no limita

gory. Howeve

ment Program The Prograto Section 6

ate of Califor

d the highest The entity thar (2) as folloed States as

ollars ($500,0ted “A” or h

United States gram wide crers of credit,equivalent byrity nor repon, or 25% o

all corporatmaturity of

within the Ute and operatategory “A” o30 percent o

certificates oertificates of on Authority’

money, a bloan compa

ts most receits record o

nd moderateStates Code.ability to

nd operation

posit notes a federal assreign bank. Phe Transporta

ment Fund (Lation as to ther, the amou

m, as authoram constitute6509.7 of Titrnia which i

INV

ranking or oat issues the cows: (1) thea general c

00,000), andhigher by a as a special

redit enhanc, or surety by a NRSRO.present morof the Trans

te and deposf five yearsUnited Stateting within thor better by

of the Trans

of deposit indeposit may’s portfolio.

bank, savingsany shall havent evaluatioof meeting -income neig. The FFIEmeet the c

ns.

issued by aociation, a s

Purchases of ation Author

LAIF). The Lhe percentageunt invested

rized by Sectes shares in tle 1, Divisioinvests exclu

VESTMENT PO

RESOLUTION 1

Pa

of the highescommercial pe corporationorporation,

d will issue deNRSRO; orpurpose corements inclu

bond; has co. Eligible core than 10%sportation A

sitory institus of less, ises or by dhe U.S. Meda NRSRO. Pportation A

n financial iny not exceed

s associationve received aon by the ap

the credit ghborhoods, C provides aredit needs

a nationally state or fedenegotiable ce

rity’s portfoli

LAIF portfole of the port

d may not ex

tion 53601 (a California

on 7, Chapterusively in inv

LICY 15-XX

ge 4 of 11

t letter or paper will n will be will have ebt, other r (2) the rporation, uding, but ommercial ommercial % of the uthority’s

ution debt ssued by

depository dium-term Purchases uthority’s

nstitutions 1 year in

n, federal an overall ppropriate needs of pursuant

an overall of their

or state-eral credit ertificates io.

lio should tfolio that xceed the

(p) of the common

r 5 of the vestments

SAN FRAN

DRAFT

M:\Finance\201

13

14

1

16

X. IN

Tinin

NCISCO COUNT

5\Memos\01 Jan\Poli

permitCalifo

3. Insuredeposfor mThere categoCode portiohave aper G

4. PlacemprivatefinancThe fmaximdeposCDs arestric

5. The SperceninvestCountspecifiComm

6. SharesmarkeInvestsubdiv

The pcommTransp

NELIGIBLE INVE

The Transpornterest-only sn zero interes

TY TRANSPORT


tted by subdrnia, as it ma

ed savings acits, a financia

meeting the cis no limitat

ory. Bank deSection 536

on that is cova signed agreovernment C

ment Servicee sector enti

cial institutionfull amount mum term oit insurance.and Negotiabcted to five ye

San Franciscntage of thements of Trty Treasury fically requimissioners pr

s of beneficiaet funds regtment Compvision these c

Attain the less than tw

Have an iSecurities managing of five hun

purchase primission that t

portation Au

ESTMENTS

rtation Authstrips that arest accrual if h

TATION AUTHO


divisions (a)ay be amende

ccount or moal institutionredit needs tion as to theposits are re30 et. seq. Tvered by fedeeement with Code Section

e Certificatesity that assistns located inof the prinf each certif. The combible CDs is limears.

o City and e portfolio ransportation

Pool to agre the app

rior to purcha

al interest issgistered withpany Act ofcompanies sh

highest rankwo NRSROs

investment aand Exchangmoney mark

ndred million

ice of sharethese compa

uthority’s por

hority will ne derived froheld to matur

ORITY

ocx

to (o) of Sed.

oney market n must have r

of Californiahe percentageequired to beThe collateraeral deposit iany deposito

n 53649.

s of Depositts in the placn the Unitedncipal and thficate of depined maximumited to 30%

County Treathat may b

n Authority fgencies of thproval of ase or accept

sued by diverh the Securif 1940. To hall have mee

king or highes.

advisor regisge Commiss

ket mutual fun dollars ($50

s of beneficanies may chrtfolio.

ot invest anom a pool of rity.

Section 5360

account. To received a ma communitie of the porte collateralizealization requinsurance. Tory accepting

t (CDs). Cercement of c

d States (Govhe interest tposit shall aum portfolio%. The maxi

asury Pool. be invested funds investhe City andthe Transp

tance.

rsified managities and Exbe eligible et either of th

est letter and

stered or exsion with nounds with as00,000,000).

cial interest harge and w

ny funds in f mortgages, o

INV

01 of the G

be eligible tominimum oveties in its motfolio that med as specifieuirements m

The Transporg Transporta

rtificates of dertificates ofvernment Cothat may be

at all times bo exposure timum investm

There is noin this cateed in the Sa

d County ofportation A

gement compxchange Cofor investmhe following

numerical ra

xempt from ot less than fsets under m

purchased will not excee

inverse floaor in any sec

VESTMENT PO

RESOLUTION 1

Pa

Government

o receive locerall satisfactoost recent ev

may be invested under Govay be waivedrtation Authoation Author

deposit placef deposit witode Section e accrued dube insured bto Placemenment maturi

o limitation egory. Any an Francisco f San Franc

Authority B

panies that aommission u

ment pursuang criteria:

ating provide

registration five years’ ex

management

will not inced 20 percen

aters, range curity that co

LICY 15-XX

ge 5 of 11

Code of

cal agency ory rating valuation. ed in this vernment d for any ority shall rity funds

ed with a th eligible 53601.8). uring the

by federal nt Service ity will be

as to the loans or City and

cisco will Board of

re money under the nt to this

ed by not

with the xperience in excess

clude any nt of the

notes, or ould result

SAN FRAN

DRAFT

M:\Finance\201

XI. M

Insc

Wnagyeoth

XII. R

TArein

TpthoAexTPre

XIII. SA

AdseT

NCISCO COUNT

5\Memos\01 Jan\Poli

MAXIMUM MAT

nvestment mcheduled so a

Where this Poo investmengreement, thears, unless tr as a part ofhe investmen

EPORTING REQ

The ExecutivAuthority Boaeport each qndividual inve

Type o Issuer Purch Matur Purch Par va Amor Curren Credit Overa Sale D

The quarterly olicy, or manhe Transportf contracted

Authority to xplanation a

TransportatioPool the Exeecent investm

AFEKEEPING A

All security trelivery-versuelected by th

Transportatio

TY TRANSPORT


TURITY

maturities wias to permit

olicy does nont will be mhat at the timthe Board haf an investment.

QUIREMENTS

ve Director ard. In additquarter, whicestment:

of investmenr name ase date

rity date ase price

alue tized cost nt market vat rating all portfolio yDate of any in

report also wnner in whichtation Autho

d parties, andmeet its e

as to why n Authority’

ecutive Direcment report f

AND CUSTODY

ransactions eus-payment bhe Transportan Authority

TATION AUTHO


ill be based the Transpor

ot specify a mmade in any me of the inveas granted exent program

will submittion, the Exch will inclu

nt instrument

lue and the s

yield based onnvestment so

will (i) state ch the portfol

ority’s funds, d (iii) includxpenditure rsufficient ms investmentctor will profurnished by

entered into basis. Securitation Authoras beneficiar

ORITY

ocx

on a reviewrtation Auth

maximum remsecurity, oth

estment has xpress authorapproved by

t a quarterlyecutive Dire

ude, at a mi

t

source of the

n cost old prior to m

compliance olio is not in cinvestmentse a statemenrequirements

money may, ts held in theovide the Trathe Office o

by the Tranties will be hrity. The secury.

w of cash fhority to meet

maining matuher than a a term remairity to make y the Board n

y list of traector will subinimum, the

e valuation

maturity

of the portfolcompliance, s or programnt denoting s for the nor may, no

e City and Coansportation

of the Treasur

nsportation Aheld by an inurities will b

INV

flow forecastt all projecte

urity at the timsecurity undining to matthat investm

no less than

ansactions tobmit to the e following i

lio to the sta(ii) include a

ms that are unthe ability o

next six moot be availaounty of San

n Authority Brer and Tax C

Authority windependent

be held direct

VESTMENT PO

RESOLUTION 1

Pa

ts. Maturitied obligations

me of the invderlying a returity in exce

ment either spthree month

o the TransBoard an ininformation

atement of ina description nder the manof the Transonths, or prable. For al

n Francisco’sBoard with Collector.

ill be conducthird-party c

tly in the nam

LICY 15-XX

ge 6 of 11

es will be s.

vestment, epurchase ess of five pecifically

hs prior to

sportation nvestment

for each

nvestment of any of nagement sportation rovide an ll of the Treasury the most

cted on a custodian me of the

SAN FRAN

DRAFT

M:\Finance\201

XIV. IN

Twco

NCISCO COUNT

5\Memos\01 Jan\Poli

NVESTMENT PO

The Executivwhich the Boonsidered by

TY TRANSPORT


OLICY REVIEW

ve Director woard will cony the Board a

TATION AUTHO


will annuallynsider at a

at a public me

ORITY

ocx

y render to tpublic meeteeting.

the Board ating. Any ch

INV

a statement ohanges to th

VESTMENT PO

RESOLUTION 1

Pa

of investmenhe policy wil

LICY 15-XX

ge 7 of 11

nt policy, ll also be

SAN FRAN

DRAFT

M:\Finance\201

AGENC

ASKED.

BANKERThe accep

BENCHMportfolio.of the po

BID. TheOffer.

BROKER

CERTIFILarge-den

COLLATrepaymen

COUPONbond’s fa

DEALEhis own a

DEBENT

DELIVEpayment of moneyreceipt fo

DERIVAmovemenfinancial security (i

DISCOUthan faceat a disco

DISCOUand redee

DIVERSreturns.

NCISCO COUNT

5\Memos\01 Jan\Poli

CIES. Federal

The price at

RS’ ACCEPpting institut

MARK. A co. A benchma

ortfolio’s inve

e price offere

R. A broker b

ICATE OF Dnomination C

TERAL. Secnt of a loan. A

N. (a) The anace value. (b)

R. A dealer, account.

NTURE. A bo

ERY VERSUand delivery

y for the secuor the securiti

ATIVES. (1)nt of one orcontracts bainterest rates

UNT. The dife value. A secount.

UNT SECURemed at matu

SIFICATION

TY TRANSPORT


l agency secu

t which secur

TANCE (BAtion guarante

omparative bark should reestments.

ed by a buyer

brings buyers

DEPOSIT (CCD’s are typi

curities, evideAlso refers to

nnual rate ofA certificate

as opposed t

ond secured o

US PAYMENy versus receiurities. Delivies.

) Financial ir more undeased upon nos, foreign exc

fference betwcurity selling

RITIES. Nonurity for full

N. Dividing i

TATION AUTHO


urities and/or

rities are offe

A). A draft oees payment o

base for measepresent a clo

r of securitie

s and sellers t

CD). A time dically negotia

ence of depoo securities p

f interest thae attached to

to a broker, a

only by the g

NT. There aipt. Delivery

very versus re

instruments erlying indexotional amouchange rates,

ween the costbelow origin

-interest beaface value, e.g

investment f

ORITY

ocx

GLOSSARY

r Governmen

ered.

or bill or excof the bill, as

suring the peose correlatio

es. (When yo

together for a

deposit withable.

osit or other pledged by a

at a bond’s ia bond evide

acts as a prin

general credit

are two methversus paym

eceipt is deliv

whose returx or security,unts whose vequities or c

t price of a snal offering p

aring money g., U.S. Treas

funds among

nt-sponsored

change acceps well as the i

erformance oon to the leve

ou are selling

a commissio

h a specific m

property, whbank to secu

ssuer promisencing intere

ncipal in all tr

t of the issue

hods of delivment is delivevery of secur

rn profile is , and may invalue is deri

commodities)

security and iprice shortly

market instrsury Bills.

g a variety o

INV

d enterprises

pted by a baissuer.

or risk toleranel of risk and

g securities, y

on.

maturity evide

hich a borrowure deposits o

ses to pay thest due on a p

ransactions,

er.

very of secuery of securirities with an

linked to, nclude a levived from an).

its maturity wafter sale als

ruments that

of securities

VESTMENT PO

RESOLUTION 1

Pa

.

ank or trust c

nce of the ind the average

you ask for a

enced by a C

wer pledges of public mo

he bondholdpayment date

buying and s

urities. deliveities with an

n exchange of

or derived fveraging facton underlying

when quotedso is conside

are issued a

offering ind

LICY 15-XX

ge 8 of 11

company.

nvestment e duration

bid.) See

Certificate.

to secure onies.

er on the e.

selling for

ery versus exchange f a signed

from, the or, or (2) index or

d at lower ered to be

a discount

dependent

SAN FRAN

DRAFT

M:\Finance\201

FEDERAvarious ccooperati

FEDERAdeposits,

FEDERApegged by

FEDERAregional bbanks, ththe housi

FEDERAcharteredworking largest sinis called, adjustablehighly liqreceive tim

FEDERAReserve BFederal RCommittGovernmmoney.

FEDERAconsisting5,700 com

FINANCbe preparreport, caccountan

GOVERNinfluencincommercfull faith FmHA m

LIQUIDIsubstantiaand asked

NCISCO COUNT

5\Memos\01 Jan\Poli

AL CREDITclasses of insives, and exp

AL DEPOSIcurrently up

AL FUNDS y the Federal

AL HOME banks), whicrift institutioing related as

AL NATIOd under the Funder the aungle provideris a private

e mortgages quid and aremely paymen

AL OPEN MBoard and fivReserve Bankee periodica

ment Securiti

AL RESERg of a seven mmercial ban

CIAL STATEred in accordertificate, ornt.

RNMENT Nng the volucial banks, sa

and credit omortgages. Th

ITY. A liquial loss of vald prices is na

TY TRANSPORT


T AGENCIEtitutions and

porters.

IT INSURA to $100,000

RATE. Thel Reserve thr

LOAN BANh lend funds

ons, credit unssets of its m

ONAL MORFederal Natiouspices of thr of residentistockholder-and second

e widely accent of principa

MARKET Cve of the twek is a permanally meets toes in the op

VE SYSTEMmember Bo

nks that are m

TEMENTS. Fdance with gr opinion of

NATIONAL ume of bankavings and loof the U.S. he term “pas

id asset is olue. In the m

arrow and rea

TATION AUTHO


ES. Agencied individuals,

ANCE CORP0 per deposit.

e rate of interough open-m

NKS (FHLB)s and provid

nions and insembers who

RTGAGE Aonal Mortgaghe Departmenial mortgage -owned corploans, in addepted. FNMal and interes

COMMITTEEelve Federal nent membero set Federa

pen market a

M. The centoard of Govemembers of t

Financial statenerally accef an indepen

MORTGAGk credit gua

oan associatioGovernments-throughs”

one that canmoney markeasonable size

ORITY

ocx

s of the Fed, e.g., S&L’s,

PORATION .

erest at whichmarket opera

B). Governmede correspondurance compmust purcha

ASSOCIATIge Associationt of Housinfunds in the

poration. Thedition to fixe

MA assumes st.

E (FOMC). Reserve Ban

r, while the oal Reserve g

as a means o

tral bank of ernors in Wathe system.

tements are aepted accounndent certifie

GE ASSOCIaranteed by ons, and othet. Ginnie Mais often used

n be converet, a security e can be done

deral governsmall busin

N (FDIC). A

h Fed fundsations.

ent sponsoredent bankingpanies. The mase stock in t

ION (FNMAn Act in 193ng and UrbaUnited State

e corporationed-rate mortgand guarant

Consists ofnk Presidentsother Presideguidelines reof influencin

f the Unitedashington, D

an overview nting principled public ac

CIATION (GGNMA an

er institutionae securities d to describe

rted easily ais said to be

e at those qu

INV

nment set upess firms, stu

federal agen

s are traded.

ed wholesaleg services tomission of ththeir district

MA). FNMA38. FNMA isan Developmes. Fannie Mn’s purchasegages. FNMAtees that all

f seven mems. The Presidents serve onegarding pur

ng the volum

d States creatD.C., 12 regio

of the agencles and shall ccountant or

GNMA or Gnd issued byns. Security h

are backed Ginnie Mae

and rapidly e liquid if th

uotes.

VESTMENT PO

RESOLUTION 1

Pa

p to supply udents, farm

ncy that insu

This rate is

e banks (curo member cohe FHLBs is Bank.

A, like GNM a federal co

ment (HUD)Mae, as the coes include a vA’s securitiesecurity ho

mbers of thedent of the Nn a rotating brchases and

me of bank c

ted by Congonal banks a

cy’s finances be accompar independe

Ginnie Mae). y mortgage holder is pro

by the FHAes.

into cash whe spread bet

LICY 15-XX

ge 9 of 11

credit to mers, farm

ures bank

currently

rrently 12 ommercial to liquefy

MA was rporation . It is the rporation variety of s are also lders will

e Federal New York basis. The

sales of credit and

gress and and about

and shall anied by a nt public

Securities bankers,

otected by A, VA or

without a tween bid

SAN FRAN

DRAFT

M:\Finance\201

LOCAL subdivisio

MARKE

MASTERbetween the translender to

MATURpayable.

MONEYbankers’ a

OFFER. See Asked

OPEN Mthe open the volumstimulate Federal R

PORTFO

PRIMARactivity anare subje(SEC)-reg

PRUDENsuch as acalled legprudent pcapital.

QUALIFthe paymhas segremaximumpublic de

RATE Omarket pr

REPURCinvestor weffect lenstructuredWhen the

NCISCO COUNT

5\Memos\01 Jan\Poli

GOVERNMons that are p

T VALUE.

R REPURCthe parties toactions. A mliquidate the

RITY. The da

Y MARKET.acceptances,

The price asd and Bid.

MARKET OPmarket by th

me of moneygrowth of m

Reserve’s mo

OLIO. Collect

RY DEALERnd positions

ect to its infgistered secu

NT PERSONa trustee, magal list. In othperson of di

FIED PUBLIment of any segated for thm liability andposits.

OF RETURNrice. This ma

CHASE AGwith an agreends the “selled to compene Fed is said

TY TRANSPORT


MENT INVEplaced in the

The price at

CHASE AGo repurchasemaster agreeme underlying

ate upon wh

. The markeetc.) are issu

sked by a sell

PERATIONShe New Yorky and credit money and cst important

tion of secur

R. A group and monthlformal overs

urities broker

N RULE. Anay invest moher states the scretion and

IC DEPOSITsales or comphe benefit of d which has

N. The yield ay be the amo

GREEMENTement to reper” money f

nsate him forto be doing R

TATION AUTHO


VESTMENT e custody of t

t which a secu

GREEMENTe—reverse rement will ofsecurities in

hich the prin

et in which ued and trade

ler of securiti

NS. Purchasesk Federal Rein the econ

credit; sales hand most fle

rities held by

of governmely financial ssight. Primar-dealers, ban

n investmentoney only in

trustee may d intelligence

TORY. A finpensating us

f the commisbeen approv

obtainable ortized yield

T (RP OR REpurchase themfor the perior this. DealerRP, it is lend

ORITY

ocx

POOL (LGIthe State Tre

urity is tradin

T. A writtenepurchase agrften specify, the event of

ncipal or stat

short-term ed.

ies. (When y

s and sales oserve Bank a

nomy. Purchahave the oppexible monet

an investor.

ent securitiestatements tory dealers in

nks, and a few

t standard. Ina list of secinvest in a sewho is seek

nancial institse or ad valossion eligibleved by the Pu

on a securitto maturity o

EPO). A hom at a fixed

od of the agrrs use RP extding money th

IP). The aggeasurer for in

ng and could

n contract reements thaamong othedefault by th

ted value of

debt instru

you are buyin

of governmeas directed byases inject reposite effect.tary policy to

s dealers who the Federalnclude Securw unregulated

n some stateurities selectecurity if it isking a reason

tution whichorem taxes une collateral hublic Deposi

ty based on on a bond th

older of secuprice on a fi

reement, andtensively to fhat is, increa

INV

gregate of allnvestment an

d presumably

covering allat establisheser things, thhe seller borr

an investme

uments (bills

ng securities,

ent and certay the FOMCeserves into . Open mark

ool.

ho submit dal Reserve Barities and Exd firms.

s the law reqted by the cus one which wnable income

h does not clnder the law

having a valuit Protection

its purchasehe current inc

urities sells tfixed date. Thd the terms finance their asing bank re

VESTMENT PO

RESOLUTION 1

Pag

l funds fromd reinvestme

y be purchase

l future tras each party’she right of thrower.

ent becomes

s, commerci

you ask for

ain other secC in order to

the bank syket operation

aily reports oank of New Yxchange Com

quires that a ustody state—would be boe and preser

laim exemptws of this staue of not lesn Commissio

e price or itcome return.

these securithe security “of the agreepositions. Eserves.

LICY 15-XX

e 10 of 11

m political ent.

ed or sold.

ansactions s rights in he buyer-

s due and

ial paper,

an offer.)

curities in influence

ystem and ns are the

of market York and mmission

fiduciary, —the so-

ought by a rvation of

tion from ate, which s than its n to hold

ts current

ties to an buyer” in

ement are Exception:

SAN FRAN

DRAFT

M:\Finance\201

SAFEKEof all type

SECONDinitial dist

SECURIinvestors

SEC RUL

STRUCTetc.) and coupons,the fluctucurve.

TREASUnational d

TREASUof the U.S

TREASUobligation

UNIFORfirms as wliquid capowed to aissues areeasily con

YIELD. TYIELD iNET YIEplus any of purcha

NCISCO COUNT

5\Memos\01 Jan\Poli

EEPING. A es and descri

DARY MARtribution.

ITIES AND in securities

LE 15C3-1. S

TURED NOTCorporation derivative-b

uation of inte

URY BILLS. debt. Most bi

URY BONDSS. Governme

URY NOTEns of the U.S

RM NET CAwell as nonmpital of 15 toa firm, include spread amonverted into c

The rate of s obtained byELD or YIEdiscount fromase to the dat

TY TRANSPORT


service to cuiptions are he

RKET. A mar

EXCHANtransactions

See Uniform

TES. Notes ins, which havbased returnserest rates, th

A non-interills are issued

S. Long-terment and havin

ES. MediumS. Governme

APITAL RUmember broko 1; also calleding margin ong membercash.

annual incomy dividing th

ELD TO MAm par in purte of maturity

TATION AUTHO


ustomers reneld in the ban

rket made fo

NGE COMMIs by administ

m Net Capital

issued by Gove imbeddeds) into their he volatility o

rest bearing dd to mature i

m coupon-beng initial mat

m-term coupent and havin

ULE. Securitiker-dealers ined net capitalloans and cors of underw

me return onhe current doATURITY is rchase price, y of the bond

ORITY

ocx

ndered by bannk’s vaults fo

or the purcha

MISSION (SEtering securit

Rule.

overnment Spd options (e.gdebt structu

of the imbedd

discount secun three mon

earing U.S. Tturities of mo

pon-bearing ng initial matu

ies and Exchn securities ml rule and neommitments writing syndi

n an investmollar income bthe current iwith the adjd.

nks for a feeor protection

ase and sale o

EC). Agency ties legislation

ponsored Eng., call featur

ure. Their maded options a

urity issued bnths, six mon

Treasury secuore than 10 y

U.S. Treasurities from t

hange Commmaintain a met capital ratito purchase

icates. Liquid

ment, expressby the currenincome yield ustment spre

INV

e whereby sen.

of outstandin

created by n.

nterprises (FHres, step-up carket performand shifts in

by the U.S. Tnths, or one y

urities issuedyears.

sury securititwo to 10 ye

mission requimaximum ratiio. Indebtedn securities, od capital incl

ed as a percnt market priminus any p

ead over the

VESTMENT PO

RESOLUTION 1

Pag

ecurities and

ng issues follo

Congress to

HLB, FNMAcoupons, flomance is impthe shape of

Treasury to finyear.

d as direct ob

ies issued aars.

irement thatio of indebteness covers a

one reason neludes cash a

entage. (a) INice for the sepremium abo period from

LICY 15-XX

e 11 of 11

valuables

owing the

o protect

A, SLMA, ating rate pacted by f the yield

nance the

bligations

as direct

t member edness to all money ew public

and assets

NCOME ecurity. (b) ove par or m the date

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

I. INTRO

The Pmodecarry Authoprocuthe TTransAdmiand s

II. SCOPE

The Papplicunlesagreeis detagencconta

The Pand tfrom,adoptEnterTransPolicythe TDireceverymeeti

III. PROCU

OpenpolicyservicAuthofinancprocu

CO COUNTY TR


ODUCTION

Procurementes, methods aout the operority). This purement activTransportatiosportation Ainistrative Cotate regulatio

E AND AUTHOR

Procurementcable to the os otherwise ment to solictermined to cy. The awarained in the E

Procurementtechnical ser, but shall bted Fiscal Prprise (LBE) sportation Ay, and day-toTransportatioctor. This Poy three years.ing.

UREMENT PRO

n competitioy of the Traces, and to ority. All procial compenurements are

RANSPORTATIO

tt 07 Draft Procuremen

P

t Policy is deand procedurrations of thpolicy is intenvities shall b

on Authority Authority. It ode, the Propons, and gene

RITY

t Policy apploperations o

specificallycit and awardbe in the b

rd of such coExpenditure

t Policy provrvices, and lebe applied inPolicy and D

Policy, as aputhority Boao-day responon Authorityolicy will be r. Any chang

OCESS

n is the basnsportation encourage

ocurement acnsation in re

to be negoti

ON AUTHORITY

nt Policy 2015.docx

PROCUREM

esigned to gures for acqui

he San Francinded to estabbe conducted

and those iis intended position K Seral prudent

lies to the of any project

y provided. d contracts o

best interest ontracts shalPlan.

vides guidelinease and ren

n conjunctionDisadvantagepplicable. Ovard (Board). Rnsibility and ay’s policies, eviewed andes to the po

sis for efficieAuthority tosmall and lctivities are ceturn for thiated on a fix

Y

MENT POL

uide decisionsring the mateisco County blish the mand, and defineindividuals, fto be consis

Sales Tax Expaccounting a

perations oft sponsoring The Transp

on behalf of of the Tranll be for goo

nes for procntal agreemen with, the Ted Business verall policy Responsibilitauthority forgoals, and

updated as rolicy are subj

ent, economo competitiveocal firms tconsidered tohe renderingxed-price or c

LICY

s pertaining erials, equipmTransportati

nner in whiche the requirefirms or agenstent with thpenditure Plaand financial

f the Transpg agencies of portation Aa sponsoring

nsportation Aods and serv

curing materients. The PrTransportatio

Enterprise direction shaty for implemr structuring,

objectives, required or dject to appro

mic and fair pely bid the pto do busino be contractg of specificcost plus fee

PROCUREME

RES

to procuremment and serion Authorith all Transpoements and/ncies doing he Transportan (Expenditmanagemen

ortation Autthe Transpo

Authority mag agency, if rAuthority anvices for prog

ials and supprocurement Pon Authority

(DBE) andall be the resmentation of, implementinshall lie wit

deemed advisoval by the B

public procuprocurementness with thtual obligatio

c goods andbasis.

ENT POLICY SOLUTION 15-XX

Page

ment, includinrvices necessaty (Transportortation Auth/or limitationbusiness wittation Authoture Plan), fe

nt practices.

thority and iortation Authay enter intrequested an

nd the sponsgrams or pro

plies, professPolicy is sepy’s Strategic d Local Bussponsibility of the Procureng, and manth the Execsable at leastBoard at a p

urement. It it of all goodhe Transportons encompad/or services

1 of 7

ng the ary to tation hority ns for th the ority’s ederal

is not hority, to an d if it

soring ojects

sional parate Plan,

siness of the ement naging cutive t once public

is the ds and tation assing s. All

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

A. Ge

Acow

Alaanpcooreom

Tasininrereac

Cthprepwo

Tpopp

B. Co

NpwNm

CO COUNTY TR


eneral Provisio

All procuremeonducted in

whether by an

1. incorpmateri

2. clearlybe use

All bids or prater than the nd -time- staroposals reconsidered aspening for aequest to wipening. Afte

material obvio

The Transporspects, termnformation fnformality oresponse thereeject any or ccordance wi

Contract awarhe potential rocurement. ecord of paroposals will

written purchptions therei

The Transporocurement r informal, solicy, DBE/olicy in effec

onflict of Inter

No employeerocurement

would result iNo employeemonetary valu

RANSPORTATIO


ons

ent transactioa manner th

n informal or

porate a cleaials, product

y set forth aled in evaluati

roposals muexact time a

amped and loeived after t

s disqualifiedny reason bythdraw is reer bid or prous error(s) a

rtation Authms, condition

from any fir irregularityeto, to be thall bids or pith federal an

rds shall be ability to perConsideratiost performal be a basis

hase order, win, will gener

ortation Autof goods andshall be in co/LBE Policy,ct at the time

rest

e, officer orprocess, or iin a conflict e, officer, orue from con

ON AUTHORITY

nt Policy 2015.docx

ons, regardlehat maximizr formal bid p

ar and accuraor services t

ll requiremening the propo

ust be submitand date stateogged as reche date and

d. A bid or py a bidder oreceived by throposal openand subject to

hority reservns and requirm or persy as to forme sole judge proposals fond state laws.

made only torform succeson shall be gnce, and finfor disqualif

written contrrally be limite

hority annud services suompliance w, if applicablee of the procu

r agent of thin the awardof interest,

r agent shalntractors, po

Y

ess of purchaes open andprocess or th

ate descriptito be procure

nts which bidosals.

tted to and ed in bid or

ceived by Tratime deadlin

proposal mar his/her authe Transportning, a bid oo the written

ves the rightuirements oson respondm or contenof the meritsr any reason.

o responsivessfully under

given to suchnancial and fication. All ract or writteed to a maxim

ual budget eubject to this with the Tran

e, and any oturement.

he Transpord or administreal or apparll solicit or tential contr

asing methodd free compehrough comp

ion of the teed; and

dders must f

received to proposal reqansportationne will be reay be withdrathorized reprtation Authoor proposal

n approval by

t to modify of any procding to the nt of the pros of the bidsn provided t

e and responr the terms a

h matters as ctechnical recontract aw

en memoranmum period

establishes tPolicy. All p

nsportation Ather Transpo

rtation Authtration of a rent, as definaccept gratu

ractors or pa

PROCUREME

RES

dology or doletition. Solicpetitive negot

echnical requ

fulfill, and al

at the locatiquirements, a

n Authority peturned unopawn prior toresentative, pority prior to

may be wity the Executi

and/or suspcurement, to

procuremenocurement d

s or proposalthat such act

nsible contracand conditiocompliance wesources. Fa

wards shall bndum. Controf five (5) ye

the monetarprocurementAuthority’s nortation Auth

hority shall pcontract, if sned by state uities, favorarties to sub


Page

llar value, shcitation for otiation shall:

uirements fo

ll other facto

ion designateand must be personnel. Bipened and wo bid or proprovided a wo bid or prothdrawn onlive Director.

pend any ano obtain funt, to waivedocument ols received, ations are ma

ctors that poons of a propwith public plse statemene documente

racts, includinears.

ry limits forts, whether fonon-discriminhority contra

participate insuch participand federal

rs or anythinb-agreements

2 of 7

hall be offers,

or the

ors to

ed no date-

ids or will be oposal written oposal ly for

nd all urther e any r any

and to ade in

ossess posed policy, nts in ed by ng all

r the ormal nation acting

n the pation

laws. ng of . The

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

TCas

C. In

Somreo$2subygo

TpAo

Evoatmbiwinp

Aarcoansefe

D. Fo

SorepapanbRfobma

CO COUNTY TR


TransportatioCalifornia Gos the San Fra

nformal Bid Pro

olicitations fmay go throuequested by r from curr25,000 or luppliers, withy law. It is noods or servi

The informalotential prov

Authority filesf quotes wer

Except in theoting membet a lower pr

materials in eidder. Award

will generally ncluding but ermitted by l

Awards of corchitectural, onstruction pnd on the pervices requiederal laws.

ormal Bid Ppro

olicitation ofequired to grocess. An Rpplicable in nd applicablee qualificatio

RFP, althoughor establishinased on a qu

may be taken list to fulfill

RANSPORTATIO


n Authority overnment Cancisco Coun

ocess

for goods anugh an informtelephone, v

rent vendor ess should h considerati

not permissibices in order

l bid or solividers to asces shall maintre obtained.

e case of an eers that, in itrice in the

excess of $25ds of contracbe awarded not limited

law, DBE/L

ontracts for landscape

project manaprofessional ired, and at

ocess

f goods and/o through a

RFP process accordance we federal lawsons-based anh price may bng an on-calualifications-into considetask orders.

ON AUTHORITY

nt Policy 2015.docx

shall be subode and the

nty Transpor

nd services thmal Request

via the Interncatalogs andbe distribution given to

ble to segmento circumve

icitation procertain that thain support d

emergency, ots opinion, thopen marke5,000 shall bcts for supplto the lowesto delivery

BE participa

professionaarchitectural

agement firmqualificationa price that

/or services ta formal Req

will also be with the pros and regulatnd will consibe considerell or preappbased proceeration when

Y

bject to Articregulations wtation Autho

hat are anticit for Proposnet or througd/or websiteted equitablDBE/LBE

nt the contrant the limitat

cess shall ine proposed pdocumentatio

or a finding he supplies, et, awards obe awarded tlies, equipmest bidder aftedate and kn

ation may be

l services, inl, engineerin

ms shall be ons necessary

is fair and

that are anticquest for Proused to procvisions of C

tions. Award ider multipleed during theroved list ofss in accorda

n negotiating

cles 1 and 3which imple

ority Conflict

ipated to be sal (RFP) or gh the mail fes. Routine ly among q

utilization aact or use mtion for form

nclude a minprice is fair aon demonstr

by the Boarequipment of contracts to the lowesent and mateer a competitnown perforconsidered i

ncluding legng, environon the basis

for the satireasonable,

cipated to beoposal (RFPcure professi

California Goof a contrac

e factors thae negotiationf professionance with staa contract w

PROCUREME

RES

3 of Title 9, ement those pt of Interest C

equal to or bid process

from known purchases in

qualified comas applicable

multiple solicitmal solicitatio

nimum of thand reasonablrating that a

rd by two-thior materials mfor supplies

st responsiblerials not in tive process,rmance and, in selecting th

gal, financial nmental, lan

of demonstrisfactory perin accordan

e in excess oP) or Invitatiional and tec

overnment Cct for professat will be clen of the contrnal services pate and fede

with a firm se


Page

Chapter 7 oprovisions asCode.

less than $7s. Quotes mqualified ven

n the amoumpetitively p

and as permtations for si

on.

hree quotes le. Transportsufficient nu

irds vote of may be purchs, equipmentle and respoexcess of $2 but other faif applicable

he vendor.

advisory, pnd surveyingrated comperformance oce with state

f $75,000 shion for Bid chnical servic

Code Section sional serviceearly stated iract. Procureproviders shaeral law, and elected from

3 of 7

of the s well

75,000 ay be ndors

unt of priced mitted imilar

from tation

umber

all its hased t and

onsive 25,000 actors e and

rivate g, or etence of the e and

hall be (IFB) ces as 4526

es will in the ement all be price

m such

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

FpnmcomafUmppo

So

Ifatfi

Rbireth

Pinmrethstm

RT

CO COUNTY TR


For procuremrocess will bature, charac

market. Awarompetitive b

membership ofter rejecting

Utilities Codemembership o

urchased at aurchase thebservance of

olicitation fo

1. A cleatechni

2. Speciaapplicrequir

3. Propo

4. Generdeliver

5. Date o

6. A cleapropo

7. Date,

f a pre-propttendees andiles.

Responses to idders or prequired to nhat may inter

Procurementsncluding advemedia outletseasonable timhe complexittandard time

may be allotte

RFPs and IFBThe Executive

RANSPORTATIO


ments anticipbe used to pcter, and qurd will be idding, excepof the Boardg bids receive Section 131of the Boarda lower pricese supplies, f the provisio

or offers in th

ar and accuraical requirem

al conditionsable, patentsements;

osed timetabl

ral format rred;

of pre-propo

ar definitionosals; and

time, and pla

osal confered agency or c

RFPs for prroposer’s keyotify the Trarfere with the

s in amountertising requs. Notice shme in which ty of the proe allotted in ed at the dete

Bs will be ree Director m

ON AUTHORITY

nt Policy 2015.docx

pated to be procure all suality; easilymade to th

pt in an emerd pursuant tved, the Tra1286, determd that, in its e in the open

equipment,ons regarding

he formal bid

ate written dments for the

s or restrictins, liquidated

le for the pro

requirements

osal conferen

n of the eval

ace for subm

ence is held, company rep

rofessional any employeesansportatione delivery of

ts greater thests for bids

hould occur to respond.

oposed projenotification

ermination of

eviewed by a may elect to a

Y

in excess oupplies, equdefined; an

he lowest rrgency declaro California

ansportation mines and deopinion, the

n market, the or materiag contracts, b

d process sha

description omaterials, pr

ng policies, d damages a

oject or servic

and numbe

ce, if applica

luation crite

mission of fin

a listing of presented sha

nd technical s and subco

n Authority oservices.

han $75,000or proposalwith sufficiThe term “

ect. Thirty (3to potential f the Executi

selection passemble a sep

of $75,000, uipment, or mnd/or reasonresponsive ared by the voPublic UtiliAuthority, p

eclares by a supplies, eqTransportat

als in the obids, or adver

all include the

of the projecroduct, or ser

policy goals and perform

ce;

er of copies

able;

eria to be us

al bids or pro

those in attall be mainta

services shaontractors. Bof any pendi

0 shall requs in local appient time to“reasonable t30) calendar bidders or

ive Director.

anel appointeparate cost e

PROCUREME

RES

an Invitationmaterials thanably accessand responsote of two-thities Code Sepursuant to two-thirds v

quipment, or tion Authoritopen marketrtisement.

e following:

ct scope andrvice being p

such as DBmance, bid o

s/items (if

sed in evalu

oposals.

tendance shoained in the

all require ideBidders or pring lawsuits

uire a formapropriate new

o allow biddtime” may v

days shall bproposers. M.

ed by the Exevaluation pa


Page

n for Bids at are standasible in the ible bidder

hirds of the vection 13128California P

vote of the vmaterials m

ty may procet without fu

d deliverablesprocured;

BE/LBE goar indemnific

applicable) t

uating the bi

owing nameresulting con

entification oroposers shaor labor dis

al notice prwspapers or

ders or propary dependinbe considereMore or less

xecutive Diranel to review

4 of 7

(IFB) ard in open after

voting 85. If, Public voting

may be eed to urther

s, and

als, if cation

to be

ds or

(s) of ntract

of the all be sputes

rocess other

posers ng on ed the s time

ector. w cost

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

ppwpthIFre

Cshm

Inshcoto

IV. NONCO

A notypes nonco

1

2

3

In thefactorreasoand r

V. PROCU

It shawhichpoliciinspeupon corpo

A bidof thhas fawardin theactualprocu

CO COUNTY TR


roposals andanel and cos

will recommerocess and the bidder or FBs, the Eesponsible bi

Copies of allheets/scores

maintained in

n the event hall documeorrespondeno the award o

OMPETITIVE N

ncompetitiveof agreem

ompetitive, n

. A unique only one v

. An emerg

. Competiti

ese cases, thers and cost nable cost. Tetain those d

UREMENT PRO

all be the poh shall applyies and procection and rerequest, a c

orations, and

dder or prope Transporta

failed to follding a contrae bid documel bidder or purement cont

RANSPORTATIO


d evaluate cost evaluation nd to the Bo

the recommeproposer m

xecutive Diidder or prop

l correspond, and copiesthe files.

that only a sent its effo

nce, negotiatioof the resultin

EGOTIATED AG

e, negotiatedments are denegotiated co

commodity vendor;

gency of such

ion is determ

e Transportaestimate, an

The Transpodetails in the

OTEST AND APP

olicy of the y to all procedures shall beview by thecopy of thes companies w

oser that hasation Authorlow applicabact or has failents or requeproposer whotract or by th

ON AUTHORITY

nt Policy 2015.docx

ost assumptiopanel, if any

oard award oendations the

most advantagirector will poser.

dence, includs of all bids

single bid ororts in solions, includinng contract.

GREEMENTS (S

d contract mefined as “Sontracts may

or specialize

h magnitude t

mined to be in

ation Authorind conduct ortation Authrespective co

PEAL PROCEDU

Transportaticurements ofbe maintainee public. In se protest powith which th

s timely submrity may file

ble policies oled to compl

est for propoose direct eche failure to a

Y

ons. Based oy, shall rank bof a contracte selection pgeous to therecommend

ding negativ or proposa

r proposal isiciting respong parties inv

SOLE SOURCE)

ay be develoSole Sourcebe acceptabl

ed profession

that cannot p

nadequate aft

ity will develnegotiations

hority will dontract file fo

URES

ion Authoritf supplies, eqed in the Tranaddition, theolicies and phe Transport

mitted a bid a protest as

or procedurely with releva

osals. In ordeconomic inteaward a proc

on their reviebids or propt, based on thpanel and coe Transportatd award to

ve response als not being

s submitted, onses; and volved, etc. t

oped when se” agreemenle include:

nal service is

permit delay;

ter solicitatio

lop an adequs with the v

document detor audit and g

ty to have equipment, annsportation Ae Transportaprocedures totation Autho

or proposal sserting that es relative toant specifica

er to file a proerests would curement con

PROCUREME

RES

ews and analosals. The Ehe results of

ost evaluationtion Authori

the lowest

letters, copg considered

the Transporecord the

that took pla

special condints. Conditio

s known to

; or

on of a numb

uate scope ofvendor to etails of the sgrant review

established pnd services. Authority’s oation Authoro all individ

ority conduct

in response the Transpo

o seeking, evtions or procotest, the probe affected b

ntract.


Page

lysis, the seleExecutive Dirf the procuren panel, if anity. In the cat responsive

pies of evalud further sha

ortation Authe history oace with refe

itions arise. Tons under w

be available

ber of source

f work, evaluensure a fairspecial cond

w purposes.

rotest proceA copy of

offices for gerity shall prouals, associats business.

to a procureortation Authvaluating, ancedures contotester must by the award

5 of 7

ection rector ement ny, to ase of e and

uation all be

hority of all erence

These which

from

es.

uation r and

ditions

edures these

eneral ovide, ations,

ement hority nd/or tained be an

d of a

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

Such constpropoAutho

A proby mto fileproteuntimTrans

All prand m

1

2

3

4

5

6

7

8

The Enon-cdecisimay afive (dispu

The athe apwish Autho

If a mmatteschedparty

CO COUNTY TR


protests mutructive, of tosal is not bority to anoth

otest shall beail or persone a protest u

est, the Tranmely and is sportation Au

rotests filed must be in wr

. Name of i

. Business a

. Name and

. Descriptio

. A clear an

a) procedwhich

b) specifiand pr

. Detailed correspon

. Desired re

. Dated sign

Executive Dicompliance aion of the Exappeal that d(5) business uting the deci

appeal shall bppeal and hoto accept th

ority Board t

majority of ther, the proteduled at the e

shall be allow

RANSPORTATIO


ust be filed wthe Transpoeing consideher bidder or

e deemed filenal delivery. Funder these psportation A

being rejeuthority relat

must be fileriting and inc

individual or

address and t

d title of cont

on of specific

nd concise sta

dures or speh were alleged

fic instance(s)rocedures;

factual sundence;

esolution of t

nature of ind

irector shall and issue a dexecutive Dire

decision to thdays of the

ision of the E

be referred told a hearinghe appeal, tthat the decis

he Finance Cesting party earliest convwed fifteen (

ON AUTHORITY

nt Policy 2015.docx

within the earrtation Auth

ered further or proposer.

ed when the Failure to fileprocedures. WAuthority shacted. Such tive to the un

d by an actuclude the foll

r entity filing

telephone nu

tact person;

c procuremen

atement of th

ecifications cdly not comp

) of Transpo

upport for

the protest; a

dividual, or au

review and cecision withiector is not s

he Transportadate of the

Executive Di

to the Financg on the matthe Finance sion of the E

Committee ashall be no

venience of t(15) minutes

Y

rlier of five (hority’s findior (ii) an aw

Transportatie a timely prWithin five (all notify the

notice shalntimely prote

ual bidder or lowing inform

protest;

umber of indi

nt and the ac

he protest, in

contained in plied with, or

ortation Aut

the prote

and

uthorized rep

consider all sin five (5) busatisfactory toation Authordecision. Th

irector.

ce Committetter. If a majCommittee

Executive Dir

agrees to acctified of thehe Finance Cto present it

(5) business ing that the

ward of the co

tion Authoritrotest shall c(5) business de individual oll constituteest.

proposer remation:

ividual or en

ction or decis

ncluding iden

bid documer

thority failur

st, includin

presentative

stated concerusiness days oo the protestrity Board. The appeal m

ee, which shajority of the shall recom

rector shall b

cept the appee hearing daCommittee. Ats case. The T

PROCUREME

RES

days after (i)bidder or p

ontract by th

ty actually reonstitute a wdays of receior entity thae the final

esponding to

ntity;

sion being pr

ntification of:

ents or requ

e to follow

ng relevant

of entity, filin

rns and issueof receipt of ting party, th

The appeal mumust clearly s

all consider wFinance Com

mmend to thbe final.

eal and holdate and timeAt the hearinTransportatio


Page

) notice, actuproposer’s bhe Transport

eceives the prwaiver of theipt of an untat the protes

decision of

o the procure

rotested;

:

uest for prop

its policy po

document

ng the protes

es alleged to the protest.

he protesting ust be filed wstate the bas

whether to ammittee doe

he Transport

d a hearing oe, which shang, the proteon Authority

6 of 7

ual or bid or tation

rotest e right timely st was f the

ement

posals

olicies

s or

st.

be in If the party

within is for

accept es not tation

on the all be esting y staff

SD

M

SAN FRANCISC

DRAFT

M:\Finance\2015\Mem

shall Finan

Uponthe drecomFinandetermBoardinconnotifiTrans

VI. CONTR

No cAuthoStrateprocuexceeautho$75,0includAuthocompauthoand tsuch excee

All exlegal contrExecuagreerende

CO COUNTY TR


then be allonce Committ

n conclusion decision of

mmendation nce Commitmines that add may accepnsistent with ication to thsportation Au

RACT ADMINIS

contractual oority in the egic Plan. Apurement of ged seventy-fiorized to app000 per fiscaded in an tority the Fis

pleted in a orized to ameo increase oramendment

ed $75,000.

xpenditures restrictions

racts in confoutive Directoments for co

ering paymen

RANSPORTATIO


owed fifteen ee may exten

of the hearithe Execu

shall be subttee’s recomdditional timt the recommthe recomm

he protester uthority.

STRATION

obligations, aexcess of it

pproval of thgoods or proive thousandprove and exal year, provthe adopted cal Policy fosingle fiscal end contractsr reduce the s without pr

shall complyplaced on t

ormance withor and/or hisompliance w

nt upon comp

ON AUTHORITY

nt Policy 2015.docx

(15) minutesnd these time

ing, or if theutive Directbmitted to th

mmendation me to conside

mendation oendation of tof its decis

administrativts ability to he Board is rofessional sed dollars ($7xecute all sucvided that th

final budgor the curren

year, the cs to extend titotal amounrior Board a

y with all fedthe use of sh the monets/her design

with the termpletion of ser

Y

s to present e periods at it

e Finance Coor and rejehe Board. Tat its next

er the appeal of the Financthe Finance sion which s

e or capital, pay as defin

required prioervices that a75,000) in ach contracts he amounts et, as amen

nt fiscal year contiguous fime, to add ot of the contapproval, if t

deral, state ansaid funds. Tary limits est

nee has the rems and condirvices or deli

the Transpots discretion.

ommittee’s dect the app

The Board sht regularly sis required. T

ce CommitteCommittee. shall constitu

shall be assned by the aor to the execauthorizes paa fiscal yearthat authoriare consiste

nded in accoor, in the ev

fiscal year(s)or delete tasktract. The Exthe amount

nd local statThe Executitablished in tesponsibility

ditions establiivery of good

PROCUREME

RES

ortation Auth.

determinationpeal withouhall review ascheduled mThe Transpo

ee or determi The Board ute the fina

sumed by thadopted finacution of anyayments thatr. The Execize paymentsent with weordance witvent that the. The Execks of similar xecutive Direof the amen

tutory requirive Director the adopted for monitori

lished in the ds and mater


Page

hority’s case

n is to agreeut a hearingand act upo

meeting unleortation Authine to take ashall issue w

al decision o

he Transportal budget any contract fot in the aggr

cutive Directs not in exceere identifiedth Transport contract wa

cutive Directscope and nector may exndment doe

ements and shall execu

final budgeting all contracontract an

rials as agreed

7 of 7

e. The

e with g, its n the ess it hority action

written of the

tation d the or the regate tor is ess of d and tation as not tor is ature,

xecute es not

other ute all t. The actual

nd for d.

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

TRAVE

I. PURPO

A. PubuCoheguTrdo

B. Geanexpof bekngoreireaanTr

C. LimcoTransub

II. ELIGIB

A. Eligemindreibeinc

B. Eligauto (re

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

EL, CONFE

OSE AND GENE

rpose. This dusiness expenounty Transprein referred

uidelines are dransportationocumented pr

neral Policy. Td/or convenpenses for tr

f the Transpnefit of atten

nowledge anovernment oimburse Traasonable and Transporta

ransportation

mitations. Travnsistent wit

ransportationd necessary bject to the l

BILITY

gible Personnmployees (Trdividuals unimbursement authorized fcluding empl

gible Travel Exthorized Trathe restrictio

eceipts requir

RANSPORTATION

, TRAINING AND B

cies\Att 08 Travel and

ERENCE, T

ERAL POLICY

document esnses, and eportation Aud to as Trandesigned to s

n Authority (rocedures in

The Transponient for authravel, trainingportation Aundance at m

nd provide perations anansportation d prudent petion Author

n Authority.

vel and meeth associaten Authority p

expenses folimitations se

nel. Expensesansportation

nder contractt of travel anfor the purpoloyment inter

xpenses. The ansportation ons identifiedred for expen

AUTHORITY BUSINESS EXPEN

d Reimbursement Polic

TRAINING

stablishes a sstablishes pruthority (Transportation Asafeguard pu(Authority) aa consistent

ortation Authorized Trang and other buthority. Ad

meetings, conopportunitie

nd issues. ThAuthority

rson would irity purpose

eting expendid policies personnel ar

or eligible exet forth herei

s are authorn Authority pt to the Aund conferencose of condurviews.

following exAuthority bud later in thinses greater t

SE REIMBURSEM

cy.docx

G AND BUSPOLICY

set of policierocedures foansportation Authority peublic funds anand its person

manner.

thority recognsportation Abusiness pur

dditionally, thnferences andes to exchahe policy ofpersonnel fincur when tand are dee

itures shall nestablished

re entitled toxpenses incuin.

rized for Trpersonnel). Inuthority for ce expenses aucting busine

xpenses are eusiness, traveis policy. Reithan $25.00)

MENT POLICY

SINESS EXP

es relating toor reimburse

Authority)ersonnel, fornd to insure nnel are usin

gnizes that iAuthority perrposes in conhe Transpord other funcange informf the Transpfor such extraveling on emed necess

not exceed tby the Tra

o claim reimurred in the

ransportationn addition, twhich the

as noted in tess on behalf

eligible for reel, conferencimbursementfor amounts

PENSE RE

o travel, conement of elcCommissio

r such expenensure the S

ng the most

in some instrsonnel to exnnection withrtation Auth

ctions which mation relate

portation Auxpenses, travofficial busi

sary and/or

the approvedansportation

mbursement fdischarge of

n Authority these policieapproved c

the contract. f of the Tran

eimbursemences, meetingsts shall be fos not to exce

RESOLUTION 1

P

EIMBURSE

nference, trailigible San Foners and emnses. These rSan Francisceconomical

tances it is xpend sums ah the officialhority recogn

advance proed to transputhority is tvel and feeiness and whadvantageou

d budget andn Authority.for actual, ref their offici

Commissios will apply

contract provTravel expe

nsportation A

nt in connec, and training

or actual expeed the per d

15-XX

Page 1 of 8

MENT

ining and Francisco mployees, rules and o County and well-

necessary and incur l business nizes the ofessional portation, to pay or es that a hich serve us to the

d shall be Eligible easonable ial duties,

oners and for those vides for

enses may Authority,

ction with g, subject

penditures diem rates

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

anSe1. 2. 3.

4.

C. Norei1. 2.

3.

D. Exphoarrothtak

1 Per diem AdministraDepartmenDefense (Dannually by

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

d allowancervice, and/oMeals; Lodging; Transportatmileage alloand Miscellaneo

a. Local andmost ecofor Financharges iand the n

b. Registratitraining o

c. Tips to p

d. Purchase

e. Business training o

f. Unforese

n-Eligible TraimbursementPersonal telConstructivAuthority bu

a. if two itranspor

b. if an india lodgin

Expenses w

pense Limitatiours requiredrival shall beher costs. Inke advantage is an allowance

ation (GSA) estnt of State estabDOD) establishy the respective

RANSPORTATION

, TRAINING AND B


s establishedr United Stat

tion charges owances,; par

us expenses:

d long distanonomical prance and Admn excess of $

nature/need

ion fees forof profession

porters, not to

e of necessary

expenses in or travel statu

een or unusu

avel Expensest for the folloephone callse expenses, usiness but w

ndividuals trtation costs,

ividual on a tng expense. which are exce

ons. Reimburd to transact e at the traven that event, of the reduc

e for lodging (exablishes per die

blishes the foreies non-foreign Federal agency



d by the Getes Departme

(, including rking,; bridge

nce business cticable com

ministration $5.00 per dafor the call;

r attending nal societies o

o exceed $2 p

y training or

connection wus; and

al expenses w

s. Transportowing items:; which are th

were not; suc

traveled toge, then one wo

trip stayed w

essive or unr

rsement of cTransportatieler’s expensit is up to th

ced airfare by

xcluding taxes),em rates for design rates (for exrates such as A

y.

SE REIMBURSEM

cy.docx

eneral Servicent of Defen

commercial e and road to

telephone cmmercial serv

and only appay shall be ite

conferences,or communit

per bag;

conference m

with the prep

which are jus

tation Auth

hose which mch as:

ether to a ould be maki

with friends o

reasonable as

costs shall beion Authoritye unless it ishe traveler’s y traveling at

, meals and incistinations withixample, Russia,

Alaska, Hawaii,

MENT POLICY

ces Adminisnse (USDOD

carrier fareolls,; and nec

alls, faxes anvice,. subject proved if deemized to in

, seminars, ty organizatio

materials or s

paration of c

stified, neces

hority person

might have b

meeting in ing a “constr

r relatives, it

s determined

e based on thy business. Cs shown thadiscretion a

t an earlier/la

idental expensein the Continen, Aruba, BahamPuerto Rico, an

stration (GSAD) as appropr

s,; rental carcessary taxi o

nd internet ato review by

eemed reasonclude to who

conventionsons;

supplies;

clerical or off

sary and sub

nnel are no

been incurre

one car anructive” claim

t would be “c

by the Tran

he minimumCosts incurret the savings

as to whetherater date.

es. The United ntal United Stat

mas, Europe, etcnd Guam. Thes

RESOLUTION 1

P

A), Internal riate 1 :

r charges,; pror public tran

ccesstelegramy the Deputynable and prom the call w

s, meetings,

fficial reports

bstantiated.

ot eligible

ed for Trans

nd each claim; or

constructive”

sportation A

m number of ed due to ears in airfare or he or she w

States General tes. The Unitedc.). The Departse rates are revi

15-XX

Page 2 of 8

Revenue

rivate car nsit fares);

ms by the y Director roperAny was made

or other

while on

to claim

sportation

imed full

” to claim

Authority.

days and rly or late outweighs wishes to

Services d States tment of iewed

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

E. Casor shAacan

III. TRAVE

A. AppmaFoforavFinapFoDicoCoreqinc

B. LocTrveneinc

C. Oulim

D. Tradeco

IV. PROCE

A. ExpAusubad

Thtraamdoanau

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

sh Advance. Covernight tr

all not be lesauthorizationnceled or ind

EL AUTHORIZAT

proval. Beforeay take placeormtravel autrm to the Deailable in thnance and Aproval. Tran

ormtravel auirector is aunsistent with

ommittee anquests in excurring any r

cal Travel. Loransportationrbal approvacessary, a Tcurring reimb

t-of-Area Travmits.

avel Authorizatstination, pusts for transp

EDURES FOR C

pense Report.uthority shalbmitted withequate docum

he total amoaveler on an mount listed ocumentationy amount inthorization f

RANSPORTATION

, TRAINING AND B


Cash advanceravel if requess than $100 n Fform. Addefinitely pos

TION

e any Transpe, Transportthorization feputy Directhe TransportAdministrationsportation

uthorization uthorized toh this policy.nd the Chairxcess of $5,0eimbursable

ocal travel, wn Authority wal from their Travel Authobursable expe

vel. Out-of-ar

tion Form. Thurpose and juportation, me

CLAIMING EXPE

. Any reimbll be claimedhin 45 days mentation su

ount of all eExpense Reon the Tra

n of the excen excess of tform shall n



s may be reqested a minim

nor more thdvances musstponed.

portation Autation Authoform to theiror forof Finatation Authon will forwaAuthority Cform to th

o approve t. The Execurperson of th000.00. All expenses. .

which does without pre-vrespective su

orization Forenses.

rea travel is d

he Travel Auustification feals, lodging,

ENSE REIMBUR

bursement fd on an Exof incurring

upporting the

expenses pereportexpenseavel Authoriss cost mustthe estimatednot be allow

SE REIMBURSEM

cy.docx

quested to comum of ten whan the estimst be refund

uthority paid ority personnr supervisor ance and Adority’s budge

ard the approCommissione

he Executivetravel requesutive Directohe Transportravel reque

not involve verification oupervisor andrmtravel auth

defined as 50

uthorization for the trip, d, registration,

RSEMENT

for expensesxpense Repog the expense expenses.

rtaining to a report formization Formt be providedd cost approed. If the ca

MENT POLICY

over anticipatworking daysmated expensded immedia

or reimbursnel must firsfor approva

dministrationet for the toved form toers must su

e Director fsts for Tranr will informrtation Authests must be

overnight tof travel fundd the Executthorization f

0 miles or mo

Formtravel departure an, and other e

s incurred oortexpense res, and the

particular tm. If the totamtravel authd. In the abseoved on the ash advance

ted travel exps before depases listed on ately when a

ed overnightst submit a al, who will fn to verify thatravel. The o the Executubmit the Tfor pre-apprnsportation

m the Chairphority of all e approved

travel, can bds availabilitytive Directorform shall b

ore beyond t

authorizationd return datexpenses.

on behalf ofreport. Expereports shal

trip should bal actual cost horization foence of a satTravel Auth

e exceeds the

RESOLUTION 1

P

penses for ouarture. Cash the approvean authorize

t or out-of-aTravel Auth

forward the at sufficient Deputy Dirtive DirectorTravel Authroval. The E

Authority pperson of the

Commissionin advance,

be reimbursey but staff shr. If overnighe submitted

the San Fran

on form shates, and the e

f the Transense reports ll be accomp

be accountedt of a trip exorm, justificatisfactory exphorization Foe actual reim

15-XX

Page 3 of 8

ut-of-area advances

ed tTravel ed trip is

area travel horization approved funds are

rector for r for final horization Executive personnel e Finance ner travel

prior to

ed by the hall obtain ht travel is prior to

ncisco city

all list the estimated

sportation shall be

panied by

d for the ceeds the ation and planation, ormtravel

mbursable

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

expRe

B. Natno

C. Pethocla

D. Reqwh

E. Reexpcoto offrecauforReinv

F. Coor reprepassth

G. ExpquthetheactnoGocomemereq

V. PREPAAll rminimrequirat the

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

pense, then eportexpense

ture of Claim. ot for “constr

r Diem Adjustose instanceaimed on the

quired Informahich reimbur

ceipts. Receipenditures fnference or travel. Claim

fficial businesceipt and nathorized expr expenses geportexpensevolved shall n

mmissioner Retraining at th

port of suchport must incsociated withe meeting, c

penses Not Cualify for reime Transportae expense istivity conduc

ot limited toovernment Cnference or ember of a ember of aquirements o

AYMENT OF COequests for

mum of ten rement canneir own risk a

RANSPORTATION

, TRAINING AND B


the travelee report.

Claims mustructive” expe

tments. Per ds where me

e Expense Re

ation. Each clsement is be

ipts or proofor public cseminar regis

ms must be rss in-transit tarrative to supenses incurregreater than e report and not be allowe

eports. Transhe expense o

h at the nextclude a statemh, Transportaconference,

overed by Trambursement uation Authors related to cted in compo ethics trainCode. Lodgin

activity spolegislative b

a legislative of this policy.

ONFERENCE/SEprepaymentworkings d

ot be met, Tand seek reim



er shall imm

t be for actuenses.

diem claims als are prov

eportexpense

laim must cleing claimed.

of of paymearrier fares, stration fees,recorded andtravel destinaubstantiate cled costing ov$25.00, a s

the reason ged.

sportation Auof the Transpt regular Boament of howation Authoror training

ansportation Aunder this pority Board, inlodging in

pliance with ning requireng costs shansor, providody at the tbody shall

.

EMINAR/TRAINt of conferedays in adva

Transportatiombursement o

SE REIMBURSEM

cy.docx

mediately ret

ual and neces

will be adjuvided gratis oe report.

early indicate

ent must berental cars,

, and for anyd certified onation, Transplaimed travever $25.00. Ifstatement togiven. In abse

uthority Comportation Auard meetings

w the Commirity businessthat could b

Authority Policolicy, to be ren a public mconnection California G

ed by Articleall not exceedded that the time of boo

use compa

ING FEES ence/seminarance of the n Authority on the Expen

MENT POLICY

turn the ex

ssary expense

usted, using tor as part o

e the date, n

e submitted, lodging (in

y unusual itemn an Expensportation Auel expenses ff a receipt ca

o that effect ence of a sat

mmissioners uthority shallsession of thissioner’s att, and includbe helpful to

cy. In the eveimbursable,

meeting beforwith a conf

Government Ce 2.4 (commd the maximlodging at t

oking. If thearable lodgi

r/training wconference/personnel mnse Reportex

xcess amoun

es consistent

the appropriof a registrat

nature of exp

d with the cndicating thems or items nse Reportexputhority persfor lodging aannot be obta

shall be mtisfactory exp

attending a l provide a bhe Transporttendance has de any mato other Com

vent where a, the expensere the expenference or oCode s. 5495mencing wit

mum group rthe group rae group rate ing that is

will be subm/seminar/tra

may personallyxpense repor

RESOLUTION 1

P

nt with the

t with this d

iate per meation or any

pense and am

claim to sube single ratenot specificalpense reportonnel must pand a receipained or has

made on the planation, th

meeting, corief written tation Authoan impact o

terials distrimmissioners

an expense e shall be appnse is incurreorganized ed52.2(c ), incluth s§. 53234rate publisheate is availab

is not availconsistent

mitted for apaining. If they pay registrart.

15-XX

Page 4 of 8

Expense

document;

al rate, in other fee

mount for

bstantiate e), meals, lly related t. For any provide a

pt for any been lost Expense

e amount

onference, and oral

ority. The on, or was ibuted at s.

does not proved by ed, unless ducational uding but 4) of the ed by the ble to the lable, the with the

pproval a e ten-day ation fees

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

VI. MEAL

A. Gepeis thepeshgramu

B. ReAuthe1.

2.

3.

4.

5.

C. LocTrMenoapbe

D. OuareRebefedin be

E. Spaurei

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

EXPENSE

neral. Transprsons not emtransacting be business mrson expendall not exceatuities, but nust be approv

strictions. Thuthority perse following c

to attend aaffairs becato attend conduct Trto attend Transportapublic agento act as examining official funto attend oto reasonaprovide mereimbursem

cal Area Mealransportationeal expenses

ot exceed thpropriatethe justified in w

t-of-Area Meaea must beeimbursemen provided foderal standarInternal Rev justified in w

ecial Functionthorized conimbursement

RANSPORTATION

, TRAINING AND B


portation Aumployed by thbusiness. The

meeting, must diture shall noed the per not the cost ved in advan

he purchase onnel are re

circumstancea breakfast, luause of the oa meeting b

ransportationconsecutive

ation Authorncy meeting thost for offboards, offi

nctions; and off-site traininably priced meals to the attment in accor

s. Reimbursen Authority b incurred prihe per diem

following cowriting.

als. Reimburse approved

nt for out-of-or expenditurd meal allowvenue Servicwriting.

ns. Reimburnferences, prot at rates



uthority persohe Transporte name and bbe included

ot exceed a rdiem amounof alcoholic

nce by the Ex

of non-travequired, and s: unch or dinnfficial positiobetween Con Authority b

or continuity, Board ofto cover an aficial guests

ficial visitors

ng events (trameals is nottendees or aurdance with p

ement for embusiness andior to author

m rates andosts: breakfa

sement for ed on the T-area meals wures exceedinwance, as estace Publication

sement for ofessional mdifferent t

SE REIMBURSEM

cy.docx

onnel may intation Authobusiness affilin the Expen

reasonable amnt. Actual cbeverages. A

xecutive Dire

el-related mwhere appro

ner meeting con or duties oommissionersbusiness outsuing morningf Supervisorsagenda;

of the Tra, and speake

aining workst available. Tuthorize indiprovisions of

mployee memust be app

rization will d allowancesast ($7); lunch

employee meTravel Auth

will be based ng $25.00, aablished by tn 463 (or an

meals at spmeetings, or sthan the p

MENT POLICY

ncur expensority, with whliation of thense Reportexmount underosts shall inAll such expector.

eals is authooved in adva

concerning Tof the individscommissionside of normg and afters, city counc

ansportation ers or hono

shops, seminThe Executiividuals to puf this docum

eals in the loproved in adbe at the ris

s establishedh ($10); and

eals during phorization Fon either act

and in accorthe GSA or ny successor

pecial functispecial eventsper diem a

es for the phom the Trane person, as wxpense reporr the particu

nclude reasoenditures for

orized only ance by the E

Transportatiodual;

ners and stamal business hrnoon and ncil, cCommis

Authority, sored guests a

nars, and retreive Directorurchase their

ment.

ocal area mudvance by thsk of the emd by the Gdinner ($18)

periods of apFormtravel tual costs, fordance with USDOD as publication)

ions, such as or functionallowances.

RESOLUTION 1

P

purchase of mnsportation Awell as the purt. The maximlar circumstanable and cr personnele

when TransExecutive D

on Authority

aff when reqhours; night sessionssion, district

such as memat banquets

eats) and rear may elect r own meals a

ust be associae Executive

mployee. MeaGSA or USD). Unusual co

pproved tripauthorizatio

or which recethe per diemappropriatep

). Unusual co

as banquet ns, may be elEligibility f

15-XX

Page 5 of 8

meals for Authority urpose of mum per-ances and customary mployees

sportation irector in

y business

quired to

ns of an t or other

mbers of or other

ady access to either and claim

ated with Director.

als should DOD as osts must

ps out-of-on form. eipts must m of the published osts must

meals at ligible for for such

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

reiAu

VII. LODGIReimarea cday’s is autCostaAlamautho

TranssubmlodginlodginAuthoServicconfethe cwill rappro

VIII. MEAN

A. Getrabypeboanco

Chcarfai

UnTrpro

B. Locpuare

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

imbursementuthority Boar

NG EXPENSESbursement isconferences oduration. W

thorized for a, Marin, Na

meda, San Frorization is gr

sportation Aumit proper do

ng as part ong is prudenority will reimce Publicatioerence, the loonference. Ireimburse itsopriatepublis

S OF TRANSPO

neral. All traansportation.y providers orsonnel trav

orne by the iny resulting ensidered wor

harges or losrrier’s rules ailure resulted

nused portioransportationomptly to se

cal Travel. Traublic transit se to be used i

RANSPORTATION

, TRAINING AND B


ts is based ord in accorda

S s allowable for meetings.

Where availablovernight acpa, San Fran

rancisco, Coranted.

uthority persocumentatio

of the approvnt, based onmburse its peon 463 (or anodging costs f no group rs personnel hed in Intern

ORTATION

avel must u Transportatf transport w

vel an indirecndividual excexcess travel rk time, but w

ss of refundsand time lim

d from circum

ons of transpn Authority, cure such a r

ansportation services and cin the follow



on a pre-appance with thi

for single-rooThe cost of

le, governmecommodatio

ncisco, San Mntra Costa,

sonnel will bn to justify val of the trn economic,ersonnel for ny successorshall not excrate is availafor lodging nal Revenue

utilize the mtion Authoritwhere availabct route and cept for reastime, except

will be charg

s resulting frmits usually wmstances beyo

portation ticthe individu

refund.

Authority pecarpooling fo

wing priority:

SE REIMBURSEM

cy.docx

proval by ths policy.

om lodging ef a single rooent and groupons within thMateo, SantaSan Mateo,

e expected tothe expense

ravel request, comfort, slodging up t

r publicationceed the maxable at the tim

up to the rService Publ

most efficientty personnel ble. If for pe

travel is intsons beyond t where beyo

ged the appro

rom failure twill not be rond the cont

ckets are subual traveler i

ersonnel are or local area

MENT POLICY

he Executive

expenses assoom will be reip rates must

he nine Bay Aa Clara, Solan

Solano, Ma

o be prudente. The Exect, and reservsafety, and rto the rates p

n). If lodgingximum groupme of bookirates establishlication 463 (

t, direct andshall use gov

ersonal conveterrupted, anthe control

ond the conopriate type o

to cancel resreimbursed, utrol of Trans

bject to refuis responsibl

encouraged travel. The f

e Director, o

ociated with imbursed wht be requesteArea countieno and Sonoarin, or San

t in the choicutive Direcves the rightreasonabilitypublished by g is required p rate publishing, the Tranhed by the (or any succe

d economicavernment anenience, Tranny resulting of the indiv

ntrol of the eof leave.

servations inunless it cansportation Au

und and, whle to see tha

to make optifollowing mo

RESOLUTION 1

P

or the Trans

attendance ahen travel exd. No reimbs of Alamed

omain the cota Clara unl

ce of lodgingctor will appt to determiny considerati

the Internalin connectio

hed by the spnsportation AGSA or US

essor publica

al mode of nd group ratensportation Aextra expens

vidual. For ememployee, wi

n accordance n be shown uthority pers

hen purchaseat they are t

imum use ofodes of trans

15-XX

Page 6 of 8

sportation

at out-of-xceeds the bursement da, Contra ounties of less prior

g and will prove the ne which ons. The l Revenue on with a ponsor of Authority

SDOD as tion).

available es offered Authority se will be mployees,

will not be

with the that such onnel.

ed by the turned in

f available sportation

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

1. 2. 3.

C. Airav

D. Aut1.

2.

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

public tranprivately-owrental cars,

r Travel. Air cailable. All re

tomobiles Privately-ow

a. In instatranspo(e.g., thsuch mRevenudistancInabilitdirect reimbueconomowned businesowned for thiusing preimbu

b. Chargealso be

c. Properincurre$250 orthe lesassignmfrom th

d. In ordelocationresidenexplanaexplana

Rental Aut

a. Rental to the Treservaare exp

RANSPORTATION

, TRAINING AND B


sportation; wned motor after exhaus

coach (or simeasonable far

wned Autom

ances where ortation betwhe site of a m

mileage basedue Service Pce between pty to do so wroute. Milea

ursement for mical direct a

motor vehss must carrmotor passe

s minimum privately-ownursed for any

es for ferries, allowed for

ty damage ed without far the amountsser amount,ment of subrhird parties, k

er to be paidn, the milea

nce to and fration to theation, the miltomobiles

automobilesTransportati

ations shouldpected to be p



vehicles; andsting all other

milar reducedre reductions

mobile for Of

Transportatween their nomeeting), Tr

d upon the stublication 46points, Transwill result in age rate of out-of-area

air rate. Tranhicles for trary at least thenger vehicleautomobile

ned motor vdamages tha

bridges, tunnecessary pa

to the autoault or causet of the dedu, for each aogation rightknown or un

d mileage foage must berom the norme Expense Rleage expens

may be usedon Authority

d be made wprudent in th

SE REIMBURSEM

cy.docx

d r available op

d fare accoms or reduced

fficial Busine

tion Authoritormal work ransportationtandard mile63. When acsportation Athe reimburreimbursem

trips shall nnsportationansportation he minimumes as requireliability insu

vehicles, Traat may occur

nnels, or tollarking.

omobile owne of the travuctible on theaccident. Thts up to the

nknown at th

or travel whie in excess mal work loReportexpene shall not b

d when suchy than the us

whenever poshe selection o

MENT POLICY

ptions.

mmodations) fare flights a

ess

ty personnel location and

n Authority peage rate as ectual mileage

Authority perrsement beinment will benot exceed thAuthority pewhile on o

m automobileed by the Staurance coveransportation .

roads will be

ned by Tranveler shall bee traveler’s a

he Transportamount exp

he time of suc

ich originateof that nor

ocation. The nse report. I

e allowed.

h rental is conse of other mssible and Trof an automo

shall be usedas appropriate

use their prd other desigpersonnel mestablished be exceeds byrsonnel musng based on e adjusted he cost of thersonnel whofficial Trane liability insate of Califorage shall noAuthority p

e allowed. Re

nsportation e reimbursedauto insuranctation Authoended, for rech payment.

es other thanrmally driven

requesting tIn the absen

nsidered to bmeans of traransportationobile model.

RESOLUTION 1

P

d for air trave shall be uti

rivate automognated work

may be reimbby the GSAiny 10% the rest justify sucmileage for as required.he most effi

ho use their nsportation Asurance for ornia. Reimbot be allowepersonnel wi

easonable ch

Authority pd in an amouce policy, whiority will asecovery of su

n at the normn from the traveler will nce of a sa

be more advaansportation.n Authority p

15-XX

Page 7 of 8

vel if it is ilized.

obiles for locations ursed for

n Internal easonable ch excess.

the most . Mileage cient and privately-Authority privately-

bursement ed. When ill not be

harges will

personnel unt up to ichever is ssume an uch sums

mal work traveler’s attach an

atisfactory

antageous Advance

personnel

SAN FRANCI

DRAFT TRAVE

M:\Finance\201

E. Othtrabepla

F. Repeappu

IX. BAGGAGChargthe trreimbgratui

ISCO COUNTY TR

EL, CONFERENCE,

5\Memos\01 Jan\Poli

b. The trawill be

c. Chargealso be

her Modes of ansportation tween transpaces of busin

imbursement. rsonnel forpropriatepub

ublication).

GE ges incurred rip. An explabursement. Cities ($2 per b

RANSPORTATION

, TRAINING AND B


aveler must oallowed for r

es for ferries, allowed for

Transportatiois not practi

portation terness.

Unless other transportablished by

for excess banation of thCharges for cbag/package



obtain full coreimburseme

bridges, tunnecessary pa

n. Limousineical or availarminal and h

rwise providation at ththe Internal

baggage will he circumstanchecking ande) will be allow

SE REIMBURSEM

cy.docx

ollision coveent.

nnels, or toll arking.

e and taxi fable. Examplhotel, betwee

ded above, thhe rates esl Revenue

be reimbursences and pay

d handling ofwed.

MENT POLICY

erage. Any ad

roads will be

fares will be les may incluen hotel and

he Transportstablished bService Pub

ed if justifiedyment receipf baggage, inc

dditional cha

e allowed. Re

allowed forude, but are d place of b

tation Authoby the GSblication 463

d as necessapts must accocluding reaso

RESOLUTION 1

P

arge for this

easonable ch

r travel whenot limited usiness, and

ority will reimSA or USD3 (or any

ry for the puompany the onable and c

15-XX

Page 8 of 8

coverage

harges will

ere public to, travel

d between

mburse its DOD as successor

urpose of claim for

customary

Documents

FC011315 RESOLUTION NO. 15-31...M:\Board\Resolutions\2015RES\R15-31 Annual Policies.docx Page 3 of 4 Training and Business Expense Reimbursement Policy as presented in Attachment 6;