City Council

9. FINANCE COMMITTEE: JOINT ACTION OF THE CITY COUNCIL AND THE PASADENA PUBLIC FINANCING AUTHORITY: APPROVE THE CERTIFICATES OF PARTICIPATION SERIES 2026A (Finance Dept.) Recommendation: It is recommended that the City Council: (1) Find that the proposed action in the agenda report is not a project subject to California Environmental Quality Act (CEQA) as defined in Section 21065 of CEQA and section 15378 of the State CEQA Guidelines, and as such, no environmental document pursuant to CEQA is required for the project; and (2) Adopt a resolution of the City Council of the City of Pasadena approving the execution and delivery of not-to-exceed $39,000,000 aggregate initial principal amount of Refunding Certificates of Participation (COPs), Series 2026A, approving the form and authorizing the execution and delivery of an eight supplemental trust agreement, a supplement No. 7 to lease, a supplement No. 7 to sublease, a continuing disclosure agreement, an escrow agreement and other related documents, authorizing the publication of a notice of intention to sell certificates of participation and a notice of sale, authorizing the distribution of an official statement and approving other related actions in connection therewith. Recommendation: It is recommended that the Pasadena Public Financing Authority: (3) 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 an eight supplemental trust agreement, a supplement No. 7 to lease, a supplement No. 7 to sublease, a contract of purchase, and approving other related documents and actions in connection therewith.