MTA 2016 Investor Information

This ARCHIVE contains information provided for historical purposes only. Each document contained in this portion of the MTA website is marked with a Dated Date and speaks only as of that Dated Date. Readers are cautioned not to assume that any information has been updated beyond the Dated Date unless a document expressly states that it constitutes an update of a specific portion of a document. MTA, its affiliates and subsidiaries expressly disclaim any duty to provide an update of any document contained in this section.

Independent Registered Municipal Advisor (IRMA) Exemption Letter, updated January 11, 2017

The MTA intends that market participants receive and use the above letter for purposes of the independent registered municipal advisor exemption to the Securities and Exchange Commission's (SEC's) Municipal Advisor Rule. This IRMA exemption letter may be relied upon through December 18, 2019, unless withdrawn or modified by the MTA.

• Flow of Funds
• Summary of MTA Debt Outstanding (as of November 30, 2016)
• Debt Profile Charts (as of November 30, 2016)
• Schedule for VRDB LOC Expiration Dates, Put Dates, and BAN Maturity Dates (as of November 3, 2016)
• Quarterly Swap Report (pages from Consolidated Financials) (as of June 30, 2016)
• Current Syndicate and Selling Group (as of January 3, 2017)

Annual Combined Continuing Disclosure Filings

• Part I - MTA Annual Disclosure Statement (The Related Entities), dated April 29, 2016, as supplemented May 10, 2016
• Part II - MTA and TBTA All Debt Outstanding as of April 29, 2016
• Appendix A
  Redirect to Part I – MTA Annual Disclosure Statement
• Appendix B
  Audited Consolidated Financial Statements of Metropolitan Transportation Authority for the Years Ended December 31, 2015 and 2014
• Appendix C
  Audited Consolidated Financial Statements of the New York City Transit Authority for the Years Ended December 31, 2015 and 2014
• Appendix D
  Audited Financial Statements of Triborough Bridge and Tunnel Authority for the Years Ended December 31, 2015 and 2014
• Appendix E
  History and Projection of Traffic, Toll Revenues and Expenses and Review of Physical Conditions of the Facilities of Triborough Bridge and Tunnel Authority, dated April 29, 2016, prepared by Stantec Consulting Services – New York

Quarterly Updates to Annual Disclosure Statement

• MTA Annual Disclosure Statement Update – 2016/2017 Third Quarterly Update, dated March 2, 2017
• Supplement to the 2016 MTA Annual Disclosure Statement, dated January 31, 2017
• MTA Annual Disclosure Statement Update - 2016 Second Quarterly Update, dated December 21, 2016
• Supplement to the August 17, 2016 First Quarterly Update to the MTA Annual Disclosure Statement, dated October 11, 2016
• MTA Annual Disclosure Statement Update - 2016 First Quarterly Update, dated August 17, 2016

Comprehensive Annual Financial Report

• 2015 Comprehensive Annual Financial Report

State of New York Annual Audited Financial Statements

• Information Regarding State of New York Audited Annual Financial Statements

On May 5, 2015, MTA entered into a financing agreement with the United States, represented by the Secretary of Transportation, acting through the Federal Railroad Administrator, to finance costs incurred by MTA in connection with the installation of the federally required Positive Train Control Systems on its commuter rail tracks. For more details, see the summary and financing agreement and the supplemental resolution that went before the MTA Board in April 2015. The approved financing is for a total of $967,100,000, and as any draws are made on the loan, the information will be added to the table below.

On January 1, 2014, MTA entered into a $350 million revolving credit agreement with the Royal Bank of Canada (RBC) that is active through July 7, 2017.  The MTA has not drawn on this line of credit.  In the event that there are any draws on this line of credit, that information will be indicated here.  For more information, see the credit agreement.

MTA has issued several series of bonds that have been designated as “Climate Bond Certified” pursuant to the Climate Bonds Initiative (CBI) Climate Bond Standards Version 2.0, using the Low Carbon Transport criteria. Set forth below are links to various instruments prepared by third parties relating to these bonds. Such instruments do not constitute representations by MTA and MTA assumes no responsibility for any statements contained therein.

Certification and Verification Documents

• Climate Bonds Initiative Confirmation of Certification Letter, dated May 20, 2016
• Climate Bonds Initiative Certificate, dated May 20, 2016
• Sustainalytics Verification Letter, dated May 11, 2016
• Climate Bonds Initiative Confirmation of Certification Letter, dated January 20, 2016
• Climate Bonds Initiative Certificate, dated January 20, 2016
• Sustainalytics Verification Letter, dated January 7, 2016

MTA Carbon Emissions Reporting

MTA is endeavoring to voluntarily identify and track instances of greenhouse emissions and the measures taken toward their avoidance, in order to work effectively towards reducing its own carbon footprint while contributing to the public’s understanding of the role mass transit plays in reducing carbon emissions. MTA is a Founding Member of The Climate Registry and annually reports data via The Climate Registry Information System (free login required). The latest verified reports are available there as well as below.

• 2013 MTA Transit Agency Performance Metric Report
• 2013 MTA Detail Inventory Emissions Report

HRY Trust Obligations - Official Statement

• Official Statement, dated September 16, 2016
• Attachment 1 - Master Glossary of Terms
• Attachment 2 - Summary of Certain Provisions of the Trust Agreement
• Attachment 3 - Summary of Certain Provisions of the Financing Agreement
• Attachment 4 - Summary of Certain Provisions of the Ground Leases and Forms Thereof
• Attachment 5 - Summary of Certain Provisions of the Fee Mortgages and Forms Thereof
• Attachment 6 - Jones Lang LaSalle Broker Opinion of Value for the Western Rail Yards
• Attachment 7 - Book-Entry-Only System
• Attachment 8 - Continuing Disclosure Under Rule 15c2-12
• Attachment 9 - Form of Approving Opinion of Co-Bond Counsel

Transportation Revenue Bonds

• Subseries 2002G-1h and 2012G-3, (LIBOR Floating Rate Tender Notes), Remarketing Circular
  Metropolitan Transportation Authority Transportation Revenue Variable Rate Refunding Bonds, dated October 26, 2016
• Series 2016D, Official Statement
  Metropolitan Transportation Authority Transportation Revenue Refunding Bonds, dated October 20, 2016
• Series 2016C, Official Statement
  Metropolitan Transportation Authority Transportation Revenue Bonds, dated July 21, 2016
• Series 2016B, Official Statement
  Metropolitan Transportation Authority Transportation Revenue Refunding Bonds, dated June 23, 2016
• Subseries 2012A-2 (Floating Rate Tender Notes) Remarketing Circular
  Metropolitan Transportation Authority Transportation Revenue Bonds, dated May 9, 2016
• Series 2016A, Offering Memorandum
  Metropolitan Transportation Authority Transportation Revenue Bond Anticipation Notes, dated March 22, 2016
• Series 2016A (Climate Bond Certified) Official Statement
  Metropolitan Transportation Authority Transportation Revenue Green Bonds Series 2016A (Climate Bond Certified), dated February 19, 2016, as supplemented February 23, 2016

Triborough Bridge and Tunnel Authority General Revenue Bonds

• Subseries 2005B-4a (Floating Rate Tender Notes), Remarketing Circular
  Triborough Bridge and Tunnel Authority General Revenue Variable Rate Refunding Bonds, dated October 19, 2016

• Series 2016A (New Money and Refunding)
  Triborough Bridge and Tunnel Authority General Revenue Bonds, Series 2016A (New Money and Refunding), Official Statement, dated January 22, 2016

Triborough Bridge and Tunnel Authority Subordinate Revenue Bonds

None at this time.

Dedicated Tax Fund Revenue Bonds

• Subseries 2008B-3b, Remarketing Circular
  Metropolitan Transportation Authority Dedicated Tax Fund Refunding Bonds, dated September 21, 2016
• Series 2016A, Offering Memorandum
  Metropolitan Transportation Authority Dedicated Tax Fund Bond Anticipation Notes, dated June 16, 2016
• Series 2016B (Climate Bond Certified), Official Statement
  Metropolitan Transportation Authority Dedicated Tax Fund Green Bonds, dated May 20, 2016
• Subseries 2002B-1, Remarketing Circular
  Metropolitan Transportation Authority Dedicated Tax Fund Variable Rate Bonds, dated March 15, 2016
• Series 2016A, Official Statement
  Metropolitan Transportation Authority Dedicated Tax Fund Refunding Bonds, dated March 3, 2016

Bond Calls / Redemption Notices / Defeasance

• Notice of Defeasance/Redemption - Refunding or Advance Refunding certain bonds from TRB Series (2002B-1, 2002B-2, 2006A, 2006B, 2008C, 2012D) and Prepayment of COPs 2004A (Auction Rate Securities), dated October 26, 2016
• Notice of Prepayment and Redemption – Certificates of Participation, Series 2004A (Auction Rate Securities), dated October 20, 2016
• Notice of Redemption – certain Transportation Revenue Bonds, Series 2006A and 2006B, dated October 14, 2016
• Notice of Redemption -Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002B-1 and 2002B-2 (Auction Rate Securities), dated September 26, 2016
• Notice of Advance Refunding and Designation of Certain Bonds for Prior Redemption - certain bonds from TRB Series 2007B and 2008A, dated July 28, 2016
• Notice of Advance Refunding and Designation of Certain Bonds for Prior Redemption - certain MTA Transportation Revenue bonds, dated June 30, 2016
• Notice of Tender from Holder and Purchase and Cancellation of Certain Bonds, dated June 30, 2016
• Notice of Advance Refunding and Designation of Certain Bonds for Prior Redemption - certain MTA Dedicated Tax Fund bonds, dated May 26, 2016
• Notice of Advance Refunding and Designation of Certain Bonds for Prior Redemption - certain MTA Dedicated Tax Fund bonds, dated March 10, 2016
• Notice of Advance Refunding and Designation of Certain Bonds for Prior Redemption - certain bonds from TRB Series 2006A and 2008C, dated February 25, 2016
• Notice of Redemption - Transportation Revenue Bond Anticipation Notices, Series 2015A, dated February 3, 2016
• Notice of Defeasance and Redemption - certain bonds from several TBTA Series, dated January 28, 2016

Letter of Credit (LOC) Substitutions

• Substitution of LOC, DTF Subseries 2002B-1 (Bank of Tokyo-Mitsubishi), dated March 23, 2016

Mandatory Tender Notices

• Notice of Mandatory Tender of TBTA General Revenue Variable Rate Refunding Bonds, Subseries 2005B-4a, 2005B-4b, 2005B-4e (CUSIPs 89602N4M3, 89602NYT5, 89602NYW8), on November 1, 2016
• Notice of Mandatory Tender of Transportation Revenue Variable Rate Refunding Bonds, Subseries 2012G-3 (CUSIP 59259YVG1), on November 1, 2016
• Notice of Mandatory Tender of Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002G-1h (CUSIP 59259YJ75), on November 1, 2016
• Notice of Intent to Change Mode and Amended Notice of Mandatory Tender of Dedicated Tax Fund Refunding Bonds, Subseries 2008B-3b, CUSIP 59259NX73, on October 3, 2016
• Notice of Mandatory Tender of Dedicated Tax Fund Refunding Bonds, Subseries 2008B-3b, CUSIP 59259NX73, on September 13, 2016
• Notice of Mandatory Tender of Transportation Revenue Bonds, Subseries 2012A-2, CUSIP 59259YLZ0, on May 16, 2016
• Notice of Mandatory Tender of Dedicated Tax Fund Variable Rate Bonds, Subseries 2002B-1, CUSIP 59259NP49, on March 23, 2016

Ratings Actions

• On May 23, 2016, S&P Global Ratings downgraded certain MTA and TBTA Enhanced Subseries (Supported by Letters of Credit), following the release of S&P's updated Joint-Support Criteria

Voluntary Disclosure Notices

• Voluntary EMMA Filing - Draw Information related to Railroad Rehabilitation and Improvement Financing (RRIF) Program Loan -Transportation Revenue Bonds, Series 2015X, dated 10/07/2016

• Summary of Certain Provisions of the Transportation Resolution
• Summary of Certain Provisions of the TBTA Senior Lien Resolution
• Summary of Certain Provisions of the TBTA Subordinate Lien Resolution
• Summary of Certain Provisions of the DTF Resolution
• Definitions and Summary of Certain Provisions of the State Service Contract Obligation Resolution
• Definitions and Summary of Certain Provisions of the Standard Resolution Provisions
• Form of the Interagency Agreement
• Form of State Service Contract