Adoption of Resolution No. 10-026, a Resolution authoring the conditional issuance and sale up to $900,000,000 of Toll Revenue Bonds

Summary

SCH Number
2010078103
Lead Agency
Riverside County Transportation Commission
Document Title
Adoption of Resolution No. 10-026, a Resolution authoring the conditional issuance and sale up to $900,000,000 of Toll Revenue Bonds
Document Type
NOE - Notice of Exemption
Received

Document Description
The 2009 Measure A Expenditure Plan approved by Riverside County voters in November 2002, identified improvements related to State Route 91 to be implemented with Measure A Western Riverside County highway funds. However, current economic conditions have caused design and construction cost to increase significantly. Resolution No. 10-026 (the "Resolution") authorizes the issuance and sale of toll revenue bonds for improvements related to State Route 91, specifically the State Route 91 Corridor Improvement Project, conditional upon completion of all required environmental review for the State Route 91 Corridor Improvement Project and the approval of the Project.

Contact Information
John Standiford
Riverside County Transportation Commission
4080 Lemon Street, 3rd Floor Post Office Box 12008
Riverside, CA 92502

951 787-7141

Location

Cities
Riverside
Counties
Riverside

Notice of Exemption

Exempt Status
Other
Type, Section or Code
15378(b)(4); 15004
Reasons for Exemption
The adoption of the Resolution does not approve or commit the Commission to the construction of the State Route 91 Corridor Improvement Project. Instead, the Resolution merely starts the financial planning process that could be used to finance the Project when and if it is ever approved.
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