AGENDA ITEM NO.
CITY OF HAWTHORNE
PUBLIC FINANCING AUTHORITY
AGENDA BILL
For the meeting of July 23, 2024
Originating Department: City Manager/City Attorney
Exec. Director: __________
Vontray Norris
Legal Counsel: ___________
Robert M. Kim
SUBJECT:
Resolution No. 11, A Resolution of the Board of Directors of the Hawthorne Public Financing Authority Regarding Date and Time of Regular Meetings.
RECOMMENDED MOTION:
Staff recommends that the Board of Directors adopt Resolution No. 11 DISCUSSION:
In 1995, the Board of Directors of the Hawthorne Public Financing Authority (HPFA) adopted Resolution No. 3 that ordered the regular meetings of HPFA to be held only at 7:00 p.m. on the second Monday in January and July of each year. Since the approval of Resolution No. 3, the Board held several regular meetings in months other than January or July without first rescinding Resolution No. 3. Government Code requires the resolution authorizing the issuance of bonds to be considered only during its regular meetings.
The City of Hawthorne is currently planning to move forward with its plans to improve the civic center, the public yard, Senior Center and the police station. In order to finance the project, the HPFA must authorize the issuance of a bond. If approved, Resolution No. 11 would rescind Resolution No. 3 and thereby allow a more flexible schedule for the regular meetings and not having to wait until January to bring a resolution authorizing the bond issuance.
FISCAL IMPACT:
None.
NOTICING PROCEDURES:
24 hours posted notice for Special Meeting pursuant to the Ralph M. Brown Act
ATTACHMENT(S):
1. Resolution No. 11
2. Resolution No. 3