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Public Financing Authority

A joint powers authority for public financing of capital improvement projects

Board of Directors
The City Council acts as the Governing Board of the Public Financing Authority (PFA). Each year, the PFA designates its own Chair and Vice-Chair.

Daryl Hickman Brian Tisdale
Daryl Hickman
Chair
Brian Tisdale
Vice Chair
Natasha Johnson Robert 'Bob' Magee Steve Manos
Natasha Johnson
Board Member
Robert 'Bob' Magee
Board Member
Steve Manos
Board Member

 

City Council/Board of Directors Terms
Because City Council members act as the Board of Directors for the PFA, four-year terms on the PFA Board are concurrent with City Council members' terms.  The PFA annually reorganizes its officers as Chair and Vice-Chair.  The City Clerk acts as the Secretary for the PFA.

Name Position TERM BEGINs Term Expires
Daryl Hickman Chairperson November 2010 November 2014
Brian Tisdale Vice Chairperson November 2010 November 2014
Natasha Johnson Board Member November 2012 November 2016
Robert 'Bob' Magee Board Member November 2012 November 2016
Steve Manos Board Member November 2012 November 2016

Meetings
PFA meetings are held only as required, at least once annually for purposes of reorganization of Board officers. All PFA meetings are held at the Cultural Center, 183 North Main St., usually in conjunction with a regular meeting of the Lake Elsinore City Council.

Function
The purpose of the Public Financing Authority is to provide, through issuance of revenue bonds, a financing pool to fund capital improvement projects. The Authority was formed in 1989 and is a joint exercise of powers authority organized and existing under and by virtue of the Joint Powers Act. The Authority is authorized to issue its revenue bonds pursuant to Bond Law. As the legislative body of the City, the City Council also acts as the Governing Board of the Public Financing Authority.

 

Last updated: 1/27/2014 9:24:27 AM