Title
Line of Credit Financing Documents
Overview
On May 22, 2017, the Orange County Transportation Authority Board of Directors selected Bank of America, N.A., to provide a line of credit in the amount of $900 million for a period of four years. The financing documents for the line of credit are presented for review and approval.
Recommendation(s)
A. Approve the substantially final form of the 2019 and 2021 Credit and Fee Agreements between the Orange County Local Transportation Authority, Orange County Transportation Authority and Bank of America, N.A., for a total amount of $900 million, and authorize the Chief Executive Officer to negotiate and execute final 2019 and the 2021 Credit and Fee Agreements.
B. Authorize the Chairman, Vice-Chair, Chief Executive Officer, Executive Director of Finance and Administration, and the Treasurer to sign on behalf of the Orange County Local Transportation Authority all documents related to the line of credit, including the credit agreement, fee agreement, bank note, supplemental indenture, and any certificates, notices, receipts, or agreements in connection with the foregoing.