PPT Slide

Reserve Account

Alameda Corridor Transportation Authority

O’Melveny & Myers, LLP

• Target Balance:
  • $15 million for first five years after completion
  • Reset every five years thereafter by Operating Committee
  • 1/5 of projected cost over five years ($15 million minimum)
  • Balance determined at first of every year (existing balance less budgeted expenses)

• Limited initial funding guaranteed by Ports

• If funds not available in Reserve Account, each railroad pays its pro-rata share of:
  • Non-Rail Maintenance and Capital Improvement Charges
  • Capital Expenses

• Reserve Account is not pledged to pay Project Bonds

Reserve Account funding requirements are specified in the Use and Operating Agreement

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