UNOFFICIAL UNTIL
APPROVED BY CITY COUNCIL
MINUTES
SPECIAL MEETING
BOARD OF DIRECTORS OF THE
PASADENA PUBLIC FINANCING AUTHORITY
OCTOBER 27, 2025
Teleconference Locations:
JW Marriott Dongdaemun Square Seoul
279, Cheonggyecheon-ro, Jongno-gu
Seoul, South Korea, 03198
Business Center
Delta Hotels Toronto
75 Lower Simone Street
Toronto, Ontario Canada, M5J3A6
Business Center, Conf. Room A106
Chair Gordo called the special meeting to order at 6:59 p.m. on Monday, October 27, 2025.
ROLL CALL
Board Members:
Staff:
Victor M. Gordo, Chair
Jessica Rivas, Vice Chair
Rick Cole
Tyron Hampton (via teleconference)
Justin Jones
Jason Lyon
Steve Madison (via teleconference)
Gene Masuda
Executive Director Miguel Marquez
City Attorney/City Prosecutor Michele Beal Bagneris
Secretary Mark Jomsky
FINANCE COMMTTTEE: JOINT ACTION APPROVE THE EXTENSION OF THE STANDBY BOND PURCHASE AGREEMENT (SBPA) WITH BMO BANK, N.A. (AS SUCCESSOR TO BANK OF THE WEST) RELATED TO THE PASEO COLORADO BONDS (Finance Dept.) Recommendation: It is recommended that the City Council:
(1) Find that this action proposed in the agenda report is not a "project" subject to the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Section 21065 and within the meaning of Section 15378(b);
(2) Adopt a resolution of the City Council of the City of Pasadena approving the form of and authorizing the execution and delivery of a fourth amendment to standby bond purchase agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith; and Pasadena Public
Financing Authority
10/27/2025
(3) To the extent that the proposed amendment of the SBPA could be considered subject to a new competitive selection process, grant the proposed amendment an exemption from the competitive selection process of the Competitive Bidding and Purchasing Ordinance, Pasadena Municipal Code Chapter 4.08, pursuant to Section 4.08.049(B) contracts for which the City's best interests are served.
It is recommended that the Pasadena Public Financing Authority:
(1) Adopt a resolution of the Board of Directors of the Pasadena Public Financing Authority approving the form of and authorizing the execution and delivery of a fourth amendment to standby bond purchase agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith. (PPFA-34) It was moved by Member Masuda, seconded by Member Hampton, to approve the staff recommendation.
AYES: Members Cole, Hampton, Jones, Lyon, Madison, Masuda, Vice Chair Rivas, Chair Gordo
NOES: None
ABSENT: None
ABSTAIN: None
APPROVAL OF MINUTES - March 17,2025
It was moved by Member Masuda, seconded by Member Hampton, to approve the minutes as submitted.
AYES: Members Cole, Hampton, Jones, Lyon, Madison, Masuda, Vice Chair Rivas, Chair Gordo
NOES: None
ABSENT: None
ABSTAIN: None
ADJOURNMENT
On order of the Chair, the special meeting of the Pasadena Public Financing Authority adjourned at 9:52 p.m.
Victor M. Gordo, Chair
Pasadena Public Financing Authority
ATTEST:
Mark Jomsky, CMC
Secretary
Pasadena Public
Financing Authority
2 10/27/2025