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  Agenda Item   16.    
City Council Meeting
Meeting Date: 06/18/2019  
FROM: Bill Gallardo
Subject:

Public Hearing to Consider Adoption of 2019-20 Operating Budget for the Brea Public Financing Authority
RECOMMENDATION
Adopt the resolution appropriating funds for the Brea Public Financing Authority 2019-20 Operating Budget, as presented in the 2019-20 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 2019-20 Proposed Budget for the Brea Public Financing Authority.
SUMMARY/FISCAL IMPACT
The fiscal impact for the Brea Public Financing Authority Operating Budget for 2019-20 is as follows:       
 
  Fiscal Year 2019-20
Bond Principal   $2,070,000
Bond Interest  $2,155,800
Total  
$4,225,800
 
RESPECTFULLY SUBMITTED
William Gallardo, City Manager
Prepared by: Lee Squire, Financial Services Manager
Concurrence: Cindy Russell, Administrative Services Director
Attachments
Resolution

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