SFMTA Minutes.pdf

The SFMTA Bond Oversight Committee met on March 8, 2023, with all members present except Steve Heminger. The committee approved the minutes from the December 7, 2022, meeting and introduced new members Yensing Sihapanya and Anna Van Degna. City Attorney Mark Blake presented a Bond Oversight Committee Question/Answer form and explained the committee's purpose, which is to provide independent oversight of SFMTA bond proceeds. The committee discussed the Rules and Responsibilities of the BOC and approved posting them to the website. The committee also reviewed the FY 2022-23 Quarterly Report 2, which covers the period through December 31, 2022, and discussed the allocation of bond interest earnings and expenditures. Committee member Charles Perl raised concerns about the 2021C bond series, noting that 77% of the proceeds remain unspent, and the need to allocate them to stay within tax rules. The next meeting is scheduled for June 7, 2023.