Finance Committee Meeting Notice

Meetings are held the first Monday of each month, unless otherwise noted.


SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY
NOTICE OF MEETING
Finance Committee

Download the Agenda Here


NOTICE IS HEREBY GIVEN by the undersigned, as the Finance Committee Chair of the Southern California Public Power Authority; that a regular meeting of the Finance Committee is to be held as follows:


Monday, October 1, 2018

10:30 AM

SCPPA Glendora Office
1160 Nicole Court   |   Glendora, CA 91740

Dial-In: (909) 293-7399   |   Participant Code: 6540490


This meeting will also be conducted by teleconference from:
Imperial Irrigation District
333 E. Barioni Blvd. | El Centro, CA 92243



The following matters are the business to be transacted and considered by the Committee:

1.  Opportunity for the Public to Address the Committee
Members of the public may address the Committee at this time on any agenda item of general interest, provided that item is within the subject matter jurisdiction of the Committee. Comments from the public shall be limited to three (3) minutes unless additional time is approved by the Committee.

2.  Meeting Minutes
The Committee will consider adoption of the minutes for the September 10, 2018 Finance Committee meeting.

3.  Investment Reports
The Committee will review the Monthly Investment Report for the month ended August 31, 2018. The Committee will recommend forwarding the Report to the Board for receipt and filing.

4.  Project Quarterly Reports
The Committee will review the need, the method of presentation and frequency of the Project Quarterly Reports.

5.  Finance Committee Governance
The Committee will receive a status on the action taken by the Board at its September meeting.

6.  Fiscal Agency Agreement
The Committee will receive a status on the draft of the Fiscal Agency Agreement.

7.  STS Refunding Update
The Committee will receive an update from PFM on the status of the issuances of refunding bonds to refund the STS 2008 Series A Bonds and most of the STS 2009 Series A Bonds and most of the STS 2009 Series A Bonds.

8.  Natural Gas Prepay RFP/RFI
The Committee will receive an update from PFM regarding the natural gas prepay banking and gas supply services RFP/RFI.

9.  Suspension of SIFMA/LIBOR Basis Swap between the Authority and Barclays Bank PLC
The Committee will receive an update from PFM on the possible suspension of the SIFMA/LIBOR basis swap between the Authority and Barclays Bank PLC relating to the Magnolia Power Project. The Committee will consider, among other things, the duration of any such suspension of the swap and the minimum amount of the upfront payment that would be made from Barclays Bank PLC to the Authority. The Committee will consider forwarding to the Board a resolution authorizing the suspension of the swap.

10.  Suspension of SIFMA/LIBOR Basis Swap between the Authority and Royal Bank of Canada
The Committee will receive an update from PFM on the possible suspension of the SIFMA/LIBOR basis swap between the Authority and Royal Bank of Canada relating to the Magnolia Power Project. The Committee will consider, among other things, the duration of any such suspension of the swap and the minimum amount of the upfront payment that would be made from Royal Bank of Canada to the Authority. The Committee will consider forwarding to the Board a resolution authorizing the suspension of the swap.

11.  Pension and OPEB Funding Levels
The Committee will discuss how to address the Board's directive on funding the shortfalls for pension and OPEB costs and may make recommendations to the Board on funding levels.

12.  Annual Audit
The Committee will be given an update on the status of the annual audit conducted by Moss Adams.

13.  Market and VRDO Update
The Committee will receive a market and VRDO status report from PFM.

14.  Unsolicited Proposals
The Committee will review unsolicited proposals that have been received from investment bankers. The Committee may take action with respect to such proposals.

15.  Future Agenda Topics
The Committee members will be given the opportunity to suggest topics for future Committee meetings.



The Authority upon request will provide reasonable accommodation to the disabled to ensure equal access to its meetings. To ensure availability, such request should be made 48 hours in advance by contacting the Authority at (626) 793-9364 during business hours.

Dated: September 27, 2018

Mario Ignacio
Finance Committee Chair
Los Angeles Department of Water and Power