Report to Mayor and City Council
Tuesday, April 07, 2020
Discussion
SUBJECT:
Title
CONSIDER APPOINTMENT OF THE PUBLIC FINANCING AUTHORITY MEMBERS FOR THE CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT (EIFD) (CITY COUNCIL)
Body
I. SUMMARY
On December 3, 2019, the City adopted Resolution No. 19-192 ("Resolution of Intent") declaring intention to establish the Carson Enhanced Infrastructure Financing District (EIFD) to finance the construction and/or acquisition and maintenance of capital improvements. The Resolution of Intent (Exhibit No. 1) also establishes the "Public Financing Authority (PFA) for the Carson EIFD" to serve as the governing board of the Carson EIFD. Tonight's action is to appoint members of the PFA in accordance with the requirements of Section 8 of the Resolution of Intention:
1) PFA Memberships shall be comprised initially of three members of the City Council and two member of the public to be appointed by the City Council. The two members of the public appointed by the Council are intended to be any individual who lives or works within the boundary of the EIFD.
2) Members of the City Council and members of the public composing the PFA shall be determined and approved by a majority vote of the City Council.
3) Members shall serve at the pleasure of the City Council and shall serve until their successor assumes office.
4) Should another taxing entity agree to participate in the Carson EIFD, the PFA membership shall then be comprised of two members of the City Council, one member of the other taxing entity, a public member selected by the Council, and a member of the public selected by the participating taxing entity. Members shall serve at the pleasure of their respective appointing legislative bodies and shall serve until their successor assumes office. At the time of appointment of the three Councilmembers, the City Council shall designate a member who will offer his/her seat to a County Supervisor, should the County agree to par...
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