[Congressional Record Volume 150, Number 62 (Thursday, May 6, 2004)]
[Senate]
[Pages S4993-S4994]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    ALAMEDA CORRIDOR TRANSPORTATION AUTHORITY'S EARLY LOAN REPAYMENT

 Mrs. BOXER. Mr. President, I congratulate the Alameda Corridor 
Transportation Authority, ACTA, for repaying its loan to the Federal 
Government 28 years ahead of schedule.
  ACTA has proven that it is an asset for Southern California and the 
Federal Government by building the Alameda Corridor on time and on 
budget--and now repaying the loan so early.
  I have worked on this project since 1995, when I secured the Alameda 
Corridor as a high priority corridor in the National Highway System 
bill.
  This project is extremely important because the ports of Los Angeles 
and Long Beach receive 40 percent of the Nation's imports, together 
composing the largest shipping complex in the United States.
  By taking trucks off the road, the Alameda Corridor helps move goods 
more rapidly and reduces congestion for many communities in southern 
California.
  I am proud to be associated with this project. It is a model for the 
Nation and a model for innovative finance.
  I look forward to working with ACTA on new projects supporting goods 
movement in southern California.
  I ask that a proclamation signed by the City of Los Angeles, the City 
of Long Beach, and the Alameda Corridor

[[Page S4994]]

Transportation Authority be printed in the Record.
  The proclamation follows.

                              Proclamation

       Whereas, in connection with the issuance of the Alameda 
     Corridor Transportation Authority Subordinate Lien Revenue 
     Refunding Bonds, Series 2004A and Series 2004B, the Authority 
     intends to prepay the remaining balance of the Federal Loan 
     dated January 17, 1997 by and between the Alameda Corridor 
     Transportation Authority (ACTA) and the United States 
     Department of Transportation, Federal Highway Administration 
     (DOT);
       Whereas, the City of Los Angeles, the City of Long Beach 
     and ACTA hereby acknowledge the critical role of the DOT in 
     the development and financing of the Alameda Corridor 
     Project;
       Whereas, the DOT was an instrumental partner in achieving 
     the substantial completion of the Alameda Corridor Project 
     and in significantly improving the transportation system and 
     movement of goods in the Southern California region;
       Now Therefore, the undersigned hereby proclaim their 
     gratitude and appreciation to the DOT for its efforts in 
     connection with this significant transportation 
     project.

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