Public Facilities Financing Authority
Duties
The Government Code of the State of California authorizes the City and the Redevelopment Agency to create a joint exercise of powers entity (herein called the “Public Facilities Financing Authority of the City of San Diego” or the “Authority”) which has the power to jointly exercise any powers common to the City and the Agency. The Authority exist for the purpose of assisting the financing of certain public capital facilities improvements of the City or the Agency by purchasing bonds, working capital, liability and other insurance needs or projects whenever there are significant public benefits as determined by the Agency.
Appointment
Appointments to the Board of Commissioners shall be made by the Mayor and confirmed by the City Council and the Redevelopment Agency of the City of San Diego.
Term
Members of the Board of Commissioners shall serve at the pleasure of the City Council and the Redevelopment Agency of the City of San Diego and may be removed at any time, with or without cause, at the sole discretion of the City Council and the Redevelopment Agency of the City of San Diego.
Composition
The Board of Commissioners consists of five members, three members of the public, the City Treasurer, and the Assistant Executive Director of the Redevelopment Agency. Each member is prohibited from engaging in any activity which could result in conflict of interest and must make an annual statement of financial disclosure.
Governed By
Board of Commissioners.
Return to List of Boards & Commissions
