| January2003 RTABoard of Directors took thefollowing actions on December19, 2002 and January 22, 2003.The next board meeting isThursday, February 20, 2003. Witha unanimous vote from theBoard, City of RiversideCouncilmember Ameal Moorewill remain Chairman ofthe Board for the year 2003.Moore has served on theRTA Board since 1999 andas an alternate since 1994.Moore was elected to theRiverside City Council inJanuary 1994, shortly afterretiring from the U.S. PostalService. Alsovoted in were CouncilmanJon Winningham, of Calimesa,as First Vice Chair andMayor Jim Ayres, of SanJacinto, as Second ViceChair. Councilwoman KarenSpiegel, of Corona, replacesCouncilman Jeff Miller andCouncilman Bill Jenkins,of Banning, replaces retiringMayor John Hunt.
InJanuary, RTA CEO Larry Rubiocelebrated his fifteenthyear with the Agency. BoardChairman Ameal Moore presentedRubio with a commemorativeplaque in appreciation ofhis service. Moore alsoannounced that at theirlast meeting in December,the Board gave Rubio a unanimousvote of confidence. Rubiohas served as the Agency’stop executive since November2000.
Lowinterest rates and RTA’sunprecedented credit ratinghave encouraged the Boardto recommend the refinancingof the Agency’s1997 Certificates of Participation(COP). The loan, which originatedin August 2000, was acquiredto increase RTA’sfleet of environmentallyfriendly, compressed naturalgas (CNG) buses. Inthe years since acquiringthe loan, RTA’sfiscal health has improvedsignificantly. In fact,the Agency currently holdsan A1 credit rating, thehighest in RTA history.Given this refinement ineconomic profile, RTA expectsto receive a much more favorableinterest rate at the timeof refinancing. While thecurrent loan holds a variablerate with a 12% cap, itis expected that RTA willbe able to lock in at afixed rate between 3.5 and4%.
RTA’scontinued efforts in transitsafety have earned the Agencya nod from the CaliforniaTransit Insurance Pool (CalTIP).CalTIP is a member-drivenpublic sector organizationthat provides insurance,risk management and safetyservices to public transitagencies. The group awardedRTA with the honor, in recognitionof the Agency’simproved safety performance.RTA was selected based onCalTIP’sreview of recent loss history.
InDecember, the RTA Boardpresented a commemorativeclock to Bill Nye, one ofthe original drivers hiredby RTA, who is retiringafter more than 25 yearsof service. Nye receivedmany awards and commendationsthroughout his career includingDriver of the Year and numeroussafe-driving awards.
InApril, RTA will welcomeattendees of the CaliforniaAssociation for CoordinatedTransportation’s(CalACT) Spring Conference.Workshops will be held atthe Riverside ConventionCenter, while guests willstay at the Mission Inn.RTA will provide on-callshuttle service betweenthe convention center andhotel for attendees withdisabilities.
Foradditional information, pleasecontact the RTA MarketingDepartment at (951) 565-5000or visit us online at www.RiversideTransit.com | 
