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
September 22, 2021
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2021-02 authorizing the Finance Director to enter into a Letter of Engagement with Piper Sandler and Co. for underwriting services in connection with a new debt issuance of the City of Elk Grove Community Facilities District No. 2005-1 (Laguna Ridge) Special Tax Bond Series 2021.
September 22, 2021
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2021-01 authorizing the issuance and sale of Special Tax Revenue bonds and approving related agreements and actions.
September 9, 2020
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2020-03 authorizing the Director of Finance and Administrative Services to enter into a letter of engagement with Piper Sandler and Co. for underwriting services in connection with a new debt issuance of the City of Elk Grove Community Facilities District No. 2005-1 (Laguna Ridge) Special Tax Bonds Series 2020.
September 9, 2020
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2020-02 authorizing the issuance and sale of special tax revenue bonds in the amount of not to exceed $13,000,000 to finance Additional Capital Facilities of the City of Elk Grove, and approving related agreements and official actions.
May 13, 2020
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2020-01 authorizing the financing of public improvements and approving a lease agreement with the City of Elk Grove and related documents and actions for the purpose of financing the costs of acquisition and construction of the District56 Nature Area Improvement Project (WCE028) and the Old Town Plaza Phase 2 and 3 Improvement Project (WCE022).
May 23, 2018
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2018-02 authorizing the issuance and sale of Special Tax Revenue Bonds in the amount of not-to-exceed $25,500,000 to finance Additional Capital Facilities of the City of Elk Grove, and approving related documents and official actions.
March 14, 2018
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2018-01 authorizing the issuance and sale of Lease Revenue Bonds in the amount of not-to-exceed $19,210,000 to finance a Capital Facility Project of the City of Elk Grove, and approving related documents and official actions.
May 10, 2017
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2017-02 authorizing the refinancing of 2007 Lease Revenue Bonds and approving related documents and actions.
April 12, 2017
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2017-01 adopting a Debt Management Policy.
July 13, 2016
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2016-002 , confirming approval of the issuance of special tax revenue bonds and increasing the authorized amount thereof, and approving and authorizing an official statement and Bond Purchase Agreement in connection therewith, for City of Elk Grove Community Facilities District No. 2005-1 (Laguna Ridge) and approving related agreements and actions.
June 6, 2016
The Board of Directors of the Elk Grove Finance Authority adopted Resolution No. FA2016-001 , authorizing the issuance and sale of special tax revenue bonds and approving related agreements and actions.
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.