AGENDA ITEM
TO: HONORABLE CHAIR
AND MEMBERS OF THE PUBLIC FINANCING AUTHORITY
FROM: CARLO TOMAINO
EXECUTIVE DIRECTOR
SUBJECT: 2026 ANNUAL MEETING OF THE PUBLIC FINANCING AUTHORITY
Summary:
The bylaws of the Signal Hill Public Financing Authority require that an annual meeting shall be held at its first meeting of January. The Public Financing Authority’s Board of Directors is the Signal Hill City Council. The purpose of this report is to satisfy the annual meeting requirements of the Public Financing Authority; there were no reportable actions taken in 2025.
Strategic Plan Goal(s):
Goal No. 5 High-Functioning Government: Strengthen internal communication, recruitment, retention, systems, and processes to increase the effectiveness and efficiency of City services.
Recommendation:
Receive and file.
Fiscal Impact:
There is no fiscal impact associated with the recommended action.
Background and Analysis:
The Signal Hill Public Financing Authority (Public Financing Authority) is a joint powers authority formed under the Joint Exercise of Powers Law of the State of California, Section 6502 of Title 1, Division 7, Chapter 5 of the Government Code of the State of California (the “Joint Exercise of Powers act”) between the City and the Signal Hill Redevelopment Agency (the Agency) for the purpose of providing financing and funding of public capital improvements. The Public Financing Authority’s Board of Directors is the Signal Hill City Council. The Public Financing Authority is managed by City employees and is financially interdependent from the City.
No reportable actions were taken in 2025.