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La Verne approves bond package and multiple budget amendments
Summary
The La Verne Board of Mayor and Aldermen voted to approve initial and authorizing resolutions for up to $25 million in general obligation bonds and up to $20 million in water and sewer bonds and adopted several budget amendments at its Aug. 7 meeting.
The La Verne Board of Mayor and Aldermen on Aug. 7 approved a package of bond resolutions authorizing up to $25 million in general obligation bonds and up to $20 million in water and sewer revenue and tax bonds, and adopted multiple budget amendments. The votes came during the board’s regular meeting after routine departmental reports.
The board approved Resolution 2025-18, described in the meeting as an “initial resolution authorizing the issuance of not to exceed $25,000,000 general obligation bonds.” The board later approved Resolution 2025-19, the authorizing resolution to issue the same $25 million in general obligation bonds, and approved separate initial and authorizing resolutions for water and sewer bonds capped at $20 million (Resolutions 2025-20 and 2025-21).
The board also approved second-reading ordinances amending several fiscal-year budgets, including ordinance 02/2018 (general fund), ordinance 02/2019 (State Street aid fund), ordinance 02/2020 (FY 2026 general fund), and a first-reading/approval for ordinance 02/2024 amending the FY 2026 Pars[e] capital project fund budget. Each ordinance was brought to the board, moved and seconded, and passed by roll call with members recorded as voting “Aye.”
During the motions, the clerk called for votes in sequence; Alderman Coates and Alderman Haas repeatedly recorded “Aye,” and the vice mayor recorded “Aye” when prompted. Each motion passed on the board’s voice/roll-call affirmation as recorded in the meeting transcript.
No public comment was recorded on the bond measures in the transcript. The meeting did not include additional detail in the record about planned use of specific bond proceeds beyond the titles of the resolutions or any schedule for sale and closing.
The votes recorded in the meeting transcript indicate unanimous board approval on these items as read into the record by staff and moved by board members.
Looking ahead, the board did not place further conditions or amendments on the bond authorizations in the meeting record; any sale terms, underwriting, or closing details were not discussed in the transcript.
