Suffering. The fed will use the full range of tools. Powell also saying that the actions are only part of a broader response. Powell also saying that the scope and speed of the downturn is without precedent. Andill hear from jay powell treasury secretary steven mnuchin, two people who right now appear to be working relatively handinhand. It is a big part of the reason why you are seeing risk assets rise as much as they have on a day like today. Moderna that a vaccine might be in the cards. Taylor i think the key takeaway is, yes, the market could be trading on economic data. There, but for the majority, this has been a health crisis. The markets were really hoping for a vaccine. It could be sooner than expected. We know that it also has the potential to not go through. All of the vaccines, the testing, that is really what has been driving these markets. When you see Something Like 900 points off of one study about potential vaccines, certainly ,omething that catches our eye a very big
The overhead. So, this is for quick, everyones recollection in 2007, proposition a allowed us to issue Revenue Bonds at this time. Both you and the board of supervisors have to authorize the issuance and the controller has to certify that we have the Financial Capacity to pay the annual debt service. In 2012 we issued our first Revenue Bonds and got our first set of ratings which were split. Moody was a a and single a and we had a former policy to issue our Revenue Bonds for state of good repair projects of primarily and to fund gaps where they werent available. So, our state of good repair needs are quite significant as im sure everybody on the board is aware of. We have identified that we have 510 million per year renewal backlog. We have identified as well that we need 366 million a year to replace our assets with no growth and to renew our transit assets to 150 million a year and in the next year we expect to double to 1. 5 billion. It impacts all of our service and systems. And al
Everyones recollection in 2007, proposition a allowed us to issue Revenue Bonds at this time. Both you and the board of supervisors have to authorize the issuance and the controller has to certify that we have the Financial Capacity to pay the annual debt service. In 2012 we issued our first Revenue Bonds and got our first set of ratings which were split. Moody was a a and single a and we had a former policy to issue our Revenue Bonds for state of good repair projects of primarily and to fund gaps where they werent available. So, our state of good repair needs are quite significant as im sure everybody on the board is aware of. We have identified that we have 510 million per year renewal backlog. We have identified as well that we need 366 million a year to replace our assets with no growth and to renew our transit assets to 150 million a year and in the next year we expect to double to 1. 5 billion. It impacts all of our service and systems. And also limits expansion due to growth. Th
First criteria was to fix the gap, the 2012 Revenue Bonds wechlt looked at the projects with 5 years, we looked at the program that had data good repair shortfalls and make sure they align with the Strategic Plan and the strategies and we looked at the bond asset requirements in terms of the asset life running 30 million, the project timeline would have to be within 36 months and the cash flows and the ability offset to free up other funds. So, this is the 150 million that we are proposed for 2013 bonds. Once again, 90 million is going to transit, 14 million going to bike program, 30 million to parking infrastructure and the remaining to our pet program. So its split between our multiple modes. The majority is going to the munis fleet. As you know we are going to have purchasing nrvs. Its a huge program and the bond is going to help finances these vehicles. We have improvements and 30. 5 million and the terminals and boarding in these categories. I wont go into other categories unless
Million in Revenue Bonds. Depending on the market this will probably come down. We are asking your approval related today bond financing. Let me go through a quick presentation on the overhead. So, this is for quick, everyones recollection in 2007, proposition a allowed us to issue Revenue Bonds at this time. Both you and the board of supervisors have to authorize the issuance and the controller has to certify that we have the Financial Capacity to pay the annual debt service. In 2012 we issued our first Revenue Bonds and got our first set of ratings which were split. Moody was a a and single a and we had a former policy to issue our Revenue Bonds for state of good repair projects of primarily and to fund gaps where they werent available. So, our state of good repair needs are quite significant as im sure everybody on the board is aware of. We have identified that we have 510 million per year renewal backlog. We have identified as well that we need 366 million a year to replace our ass