Finance Authority

Purpose and Powers

The Elk Grove Finance Authority is a Joint Exercise of Powers entity created pursuant to Article 1 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California; the Authority members are the City of Elk Grove and the Elk Grove Parking Authority. The Finance Authority was formed for the purpose of financing and refinancing public capital improvements in accordance with the laws of the State of California. A full listing of the Finance Authority's powers is available in the Joint Powers Agreement, approved by Resolution No. 2005-205 on July 13, 2005.

Board of Directors

Authority Board Members = Members of the City Council

Officers Position
Mayor President
Vice Mayor Vice President
Finance Director Treasurer/Controller
City Clerk Secretary
City Manager Administrator
City Attorney Legal Counsel

History of the Finance Authority

June 24, 2015

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2015-01 authorizing the issuance and sale of its special tax revenue bonds and approving related agreements and actions

December 8, 2010

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2010-3 authorizing the issuance and sale of lease revenue bonds in the principal amount of not to exceed $12,700,000 to finance a capital facility project of the City of Elk Grove, and approving related documents and official actions.

October 13, 2010

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2010-2 authorizing the release of a preliminary official statement and notice of sale in connection with possible issuance of lease revenue bonds to finance a capital facility project of the City of Elk Grove.

September 8, 2010

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2010-1 setting the time and place of regular meetings.

May 23, 2007

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2007-1 authorizing the execution and delivery of a site lease, a facilities lease, a trust agreement, and a bond purchase contract; authorizing the issuance of revenue bonds; approving the form and distribution of the official statement; and approving other related actions for the purchase of 8401 Laguna Palms Way and refunding of 8380 and 8400 Laguna Palms Way.

April 26, 2006

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2006-1 authorizing the execution and delivery of a first supplemental trust agreement, a bond purchase agreement, and a bond purchase contract; authorizing the issuance of bonds; approving the form of the official statement and the distribution thereof; and approving other actions related thereto.

July 27, 2005

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2005-1 adopting bylaws, establishing a regular meeting date, adopting the state CEQA guidelines for use in implementing CEQA, and adopting a conflict of interest code.

The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2005-2 authorizing the execution and delivery of a trust agreement, a bond purchase agreement, and a bond purchase contract; authorizing the issuance of bonds; approving the form of the official statement and the distribution thereof; and approving other actions related thereto.

July 13, 2005

The City Council of the City of Elk Grove adopted Resolution No. 2005-205 approving the form of and authorizing the execution and delivery of a joint exercise of powers agreement creating the Elk Grove Finance Authority.