At the October 28th joint meeting of the ABAG Administrative Committee and the MTC Planning Committee, Public Financial Management, Inc. (PFM) and Orrick, Herrington & Sutcliffe LLP (Orrick) presented reports on financial and legal due diligence, respectively, in connection with the Option 7 Implementation Action Plan (Attachment A). Read the memorandum for a summary of the salient points in each report and a brief discussion of our approach to address the issues raised.