ADVISORY/Alameda Corridor Sets Special Meeting to Consider Trench Contract and Other Key Issues.LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 12, 1998-- MEDIA ADVISORY: The Alameda Corridor The Alameda Corridor is a 20 mile (32 km) freight rail "expressway"[1] owned by the Alameda Corridor Transportation Authority (AAR reporting marks ATAX Transportation Authority has scheduled a special meeting Wednesday to consider approval of several key items, including its largest contract to date and a program budget. A news conference will immediately follow the meeting at the Port of Long Beach administrative offices. Wednesday shapes up as the most important day so far in the history of the Alameda Corridor rail cargo expressway, a public works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. project of national significance. The governing board Noun 1. governing board - a board that manages the affairs of an institution board - a committee having supervisory powers; "the board has seven members" of Alameda Corridor Transportation Authority (ACTA), a joint powers authority A Joint Powers Authority (JPA) is an institution permitted under the laws of some states of the USA, whereby two or more public authorities (e.g. local governments, or utility or transport districts) can operate collectively. of the cities and ports of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Long Beach, is scheduled to consider final approval of several key items. They include: -- A $712 million contract for construction of a 10-mile-long railroad railroad or railway, form of transportation most commonly consisting of steel rails, called tracks, on which freight cars, passenger cars, and other rolling stock are drawn by one locomotive or more. trench, the biggest contract ACTA will issue. -- Use and maintenance agreements with the railroads that provide a revenue stream to help finance the project. -- Lifting of a debt ceiling, allowing ACTA to sell more bonds if necessary and create a contingency. -- A $2.4 billion program budget. -0-
WHAT: ACTA Governing Board meeting
WHEN: 8 a.m., Wednesday
WHERE: 6th floor hearing room at the Port of Long Beach offices, 925
Harbor Plaza.
The chairman and ACTA chief executive officer will be available at a news conference immediately following the meeting. |
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