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long-term solutions Address imminent threats to maintain rail operations

Table 8 Highest Ridership Station Pairs Originating in Orange County – 2022-2023 Fiscal Year .......... 30

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Opinion We have audited the accompanying financial statements of the 405 Express Lanes Fund (405 EL), a major enterprise fund of the Orange County Transportation Authority (OCTA) as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the 405 EL’s financial statements as listed in the table of contents.