City of Culver City - File #: 26-944

• File #: 26-944
• Version: 1
• Subject: Approval of Binding Bond Documents between the Culver City Public Finance Authority and City of Culver City
• Type: Public Hearing
• Status: Public Hearing
• In control: City Council Meeting Agenda
• On agenda: 6/8/2026
• Title: CC:PFA - PUBLIC HEARING: (1) Adoption of City Council Resolution Authorizing the Execution and Delivery by the City of a Ground Lease, a Lease Agreement, an Indenture, a Purchase Contract, and a Continuing Disclosure Agreement in Connection with the Issuance by the Culver City Public Finance Authority of its Lease Revenue Bonds, Series 2026a and Series 2026b (Federally Taxable); Approving the Issuance of Such Bonds in an Aggregate Principal Amount Not to Exceed $48,000,000; and Authorizing the Execution of Necessary Documents and Certificates and Related Actions; (2) Adoption of City Council Resolution Declaring its Official Intent to Reimburse Project Expenditures with Bond Proceeds and Related Actions; (3) Adoption of Public Finance Authority Resolution Authorizing the Execution and Delivery of a Ground Lease, a Lease Agreement, an Indenture and a Purchase Contract in Connection with the Issuance of Culver City Public Finance Authority Lease Revenue Bonds, Series 2026a and Series 202...

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CC:PFA - PUBLIC HEARING: (1) Adoption of City Council Resolution Authorizing the Execution and Delivery by the City of a Ground Lease, a Lease Agreement, an Indenture, a Purchase Contract, and a Continuing Disclosure Agreement in Connection with the Issuance by the Culver City Public Finance Authority of its Lease Revenue Bonds, Series 2026a and Series 2026b (Federally Taxable); Approving the Issuance of Such Bonds in an Aggregate Principal Amount Not to Exceed $48,000,000; and Authorizing the Execution of Necessary Documents and Certificates and Related Actions; (2) Adoption of City Council Resolution Declaring its Official Intent to Reimburse Project Expenditures with Bond Proceeds and Related Actions; (3) Adoption of Public Finance Authority Resolution Authorizing the Execution and Delivery of a Ground Lease, a Lease Agreement, an Indenture and a Purchase Contract in Connection with the Issuance of Culver City Public Finance Authority Lease Revenue Bonds, Series 2026a and Series 2026b (Federally Taxable); Authorizing the Issuance of Such Bonds in an Aggregate Principal Amount Not to Exceed $48,000,000; Authorizing the Execution of Necessary Documents and Certificates and Related Actions; and Approving a Local Debt Policy Statement.

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Meeting Date: June 8, 2026

Contact Person/Dept: Stephen Agostini/City Manager/Finance Department

Phone Number: (310) 253-5865

Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]

Attachments: Yes [X] No []

Public Notification: (Email) Meetings and Agendas - City Council (06/04/2026); (Email) Ongoing Topics - Fiscal and Budget Issues (06/03/2026)

Department Approval: Stephen Agostini, Interim Assistant City Manager and Chief Financial Officer (06/3/2026) _____________________________________________________________________

RECOMMENDATION

Staff recommends the City Council approve and adopt the following:
1. A Resolution approving the overall financing structure for the lease obligations; in...