California AB117 provides a loan to the Metropolitan Transportation Commission for San Francisco Bay Area transit operating purposes.
California AB117 authorizes the Transportation Agency to loan up to $590 million to the Metropolitan Transportation Commission for San Francisco Bay Area transit operating purposes. The Metropolitan Transportation Commission will use the loan proceeds to offer loans to specified transit entities, including the San Francisco Bay Area Rapid Transit District and the San Francisco Municipal Transportation Agency. The loan is secured by State Transit Assistance Program revenues and will be repaid over 12 years, with the first two years consisting of interest-only payments.
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