Bond Program

TriMet has pledged the following revenue streams to pay its capital grant receipt revenue revenue bonds:

• Intergovernmental Agreement Receipts:
  • Metro, the metropolitan planning organization in the Portland area, has agreed to  facilitate TriMet’s receipt of federal grant funds from the Surface Transportation Block Grant program (STBG) and Congestion Mitigation and Air Quality (CMAQ) improvement programs. Intergovernmental agreements (IGAs) between TriMet and Metro specifically provide that Metro’s allocation of funds to TriMet has precedence over all other funding allocations in Metro’s Metropolitan Transportation Improvement Program.
• Section 5307 Receipts:
  • Section 5307 receipts consist of the amounts TriMet receives under the Urbanized Area Formula Program authorized by the United States Code. The Urbanized Area Formula Program is administered by the FTA, and provides for federal capital and operating assistance for mass transportation in urbanized areas. TriMet receives the majority of the Urbanized Area Formula Program funds apportioned to the Portland, OR-WA Urbanized Area.

Information concerning TriMet’s collection of pledged revenues and annual debt service coverage can be found here.