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�,� - � TRANSWORKSHOPfrompage 1 • • • • • • • • • • • • • - • • • • • • • • • • • • • • • • • • • • • • • - The program is offered by the League-spon- League of California Cities at 916-658-8267 or sored California Statewide Communities Develop- dharrison(cDcacities.orq. , ment Authority (CSCDA). The web-hosted confer- ence program will explain how cities can use Tax and RevenueAnticipation Notes (TRANs) to ad- FEDERAL fco[it pege 1 • • � � � • � • • � • • � • dress their cash-flow challenges. Congress has been trying to produce a new highway bill since the last six-year plan, funded at The 2005 TRANs Program offers: $218 billion, expired in September 2003. Last year the legislation got hung up when lawmakers • Large and Smal1 Borrowers –The program couldn't work out a formula for dividing the money accommodates all TRAN borrowing sizes. TRAN among the states and the White House issued a borrowings have ranged from a high of$235 million veto threat over spending levels it said would to as little as $100 thousand. deepen the federal deficit. • rme Savings–Accessing the capital mar- kets has never been easier. Participants estimate On Wednesday the administration applauded that the program takes about 25% of the time the House bill but said President Bush would be compared to a stand-alone TRAN issuance. advised to veto anything above $284 billion. • Excel/ent Pricing– Our underwriting team �ed by Lehman Brothers, with Bank ofAmerica, Among the amendments accepted Thu�sday Citigroup, and E.J. De La Rosa, will deliver excel- was one proposed by a bipartisan group from New lent interest rate priang as demonstrated in recent Jersey that would let states ban political contribu- years. The program also offers a competitively bid tions by contractors bidding for highway projects. investment contract as an investment alternative to New Jersey has tried to prohibit such °pay-to-play" participating cities. practices, but was warned by federal officials that • Matority Options–The program offers 12 the state risked losing federal highway money and 13 month maturities. These maturity options because it was violating compefitive bidding rules. enable cities to maximize the benefits of issuing � TRANs. Another amendment that passed — promoted by Rep. Michael Rogers, R-Michigan — concerns For an online enrollment form: www.cscda.qwikdox2. devices that change a traffic signal's phase time. It com would ban the sale of such devices to anyone except government-approved users, such as fire For program information:https://secure. departments and police officers. cacommunities.com/cacomm/apps/trans/ The measure also calls for spending: To participate in the web-hosted conference on Wednesdav. March 23. 2005, from 10:00 to • $590 million on high-risk rural roads, where 11:00 a.m. go to: https://www.callinfo.com/interface/ 61 percent of all highway fatalities occur. participanfLogin.jsp?host=gcc • $634 million in incentive grants to help • Enter 8663654406 in the Phone Number line states combat alcohol and illegal drug use by (no dashes) drivers. • Enter 3624137 in the Access Code line. • Dial 1-800-818-6210 to access the Audio • �30 million for a new program to fund the construction of dedicated truck lanes. Portion of the call The Senate Environment and Work Force Questions? Contact: Catherine Bando, RBC Committee is expected to take up the highway bill Dain Rauscher at 213-362-4137 or catherine. next week. Lawmakers hope to send a compromise bando(a�rbcdain.com;James Hamill, California measure to the president before the latest tempo- Communifies at 800�35-3993 ext. 216 or rary extension of the old highway bill expires May ihamill _cacommunities.com; Dan Harrison, 31. Visit the League's Official Web Site--www.cacities.org PRIORITY FOCUS/PAGE 7