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  Agenda Item   21.    
City Council Meeting
Meeting Date: 06/06/2017  
FROM: City Manager
Subject:

Public Hearing to Consider Adoption of 2017-18 Operating Budget for the Brea Public Financing Authority
RECOMMENDATION
Adopt the resolution appropriating funds for the Brea Public Financing Authority 2017-18 Operating Budget, as presented in the 2017-18 Proposed Budget document.
BACKGROUND/DISCUSSION
The Brea Public Financing Authority is a shared exercise of powers between the City of Brea and the former Brea Redevelopment Agency, created by a Joint Powers Agreement.  The following is the 2017-18 Proposed Budget for the Brea Public Financing Authority.
SUMMARY/FISCAL IMPACT
The fiscal impact for the Brea Public Financing Authority Operating Budget for 2017-18 is as follows:       
 
  Fiscal Year 2017-18
Bond Principal   $1,905,000
Bond Interest  $2,314,100
Total  
$4,219,100
 
RESPECTFULLY SUBMITTED
Bill Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: Cindy Russell, Administrative Services Director
Attachments
Resolution 2017-043

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