title
CC:PFA - ACTION ITEM: (1) Culver City Public Finance Authority Board Adoption of a Resolution Confirming the Board of Directors; Establishing Dates, Time and Place of its Regular Meetings; and Adopting a Conflict of Interest Code; (2) Culver City Public Finance Authority Board and City Council Consideration of the Uses for the Bond Proceeds Resulting from Bond Issuance Which may Be Issued for an Amount Not to Exceed $48,000,000, of Which the City Manager is Recommending a Total of $39,420,000 (Net Proceeds of $36,900,000) be Issued; (3) City Council Direction to the City Manager to Incorporate These Bond Proceed Uses in the Proposed Culver City Fiscal Year 2026-2027 Budget; and (4) Other Direction to the City Manager/Executive Director as Deemed Appropriate.
body
Meeting Date: April 27, 2026
Contact Person/Dept: Stephen Agostini/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 (04/23/2026); (Email) Ongoing Topics - Fiscal and Budget Issues (04/23/2026)
Department Approval: Stephen Agostini, Chief Financial Officer (04/23/2026)
_____________________________________________________________________
RECOMMENDATION
Staff recommends:
1. The Culver City Public Finance Authority (PFA) Board adopt a Resolution confirming the Board of Directors; establishing the dates, time and place of regular meetings; and adopting a Conflict of Interest Code.
2. The PFA Board and City Council consider the recommended uses of bond proceeds which may be issued for an amount not to exceed $48,000,000 of which the City Manager is recommending a total of $39,420,000 (net proceeds of $36,900,000) be issued.
3. The City Council direct the City Manager to incorporate those uses in the Proposed Budget for Fiscal Year 2026-2027.
BACKGROUND
On February 14, 2026, the City Council held a day-long Special St...
Click here for full text