| Date/Time: 3/27/2018 -- 9:00 AM |
Location:
WVPA Administration Building
3310 Piedmont Road
Charleston, WV 25306
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| Purpose: Approval of meeting minutes of the February 1, 2018 Finance Committee; To receive, review and discuss (1) the West Virginia Turnpike 2018 Revenue Bond Study (DRAFT) prepared and delivered pursuant to an Agreement dated September 1, 2017, between the Parkways Authority and CDM Smith Inc., Traffic Engineer, (2) a document from HNTB, the Authoritys General Engineering Consultant, certifying the costs of O & M (operations and maintenance), R & R (repair and replacement), and capital needs of the WV Turnpike for potential future bonding and possible toll increases, and (3) the presentation by Public Resources Advisory Group (PRAG), the Authoritys financial advisor, of its model utilizing the CDM Smith Study and the HNTB report to estimate the potential bond sizing and associated debt service possible of being supported by net revenues available; and any and all other discussion, review and/or scheduling of matters that may properly come before the Committee. The primary purpose of the draft 2018 Revenue Bond Study was to establish the immediate and long-term impacts of proposed toll policy changes on the West Virginia Turnpike toll transactions and revenue. Those proposed toll policy changes are set out in the draft 2018 Revenue Bond Study and consist of a new annual discount program for West Virginia E-ZPass customers (for passenger vehicles) and a toll rate increase for other Turnpike users. The proposed toll policy changes are being considered and developed as a potential source of debt service funds for the contemplated sale of Turnpike revenue bonds as part of Governor Justices Roads to Prosperity initiative; This meeting may be recessed and reconvened and/or moved into executive session at the discretion of the Finance Committee, in accordance with applicable law. If the meeting is recessed and reconvened, the date, time and location at which the recessed meeting will be reconvened (A) shall be announced during the meeting (or reconvened meeting) at or prior to the time such meeting is recessed; The agenda for this meeting will be available three days in advance by calling 304-926-1900 or at the website www.wvturnpike.com; items of business may be added to the agenda up to 48 hours prior to the date of meeting. |
Notes: | | Meeting was accepted : 3/19/2018 4:03:06 PM |
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