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Redondo Beach finance director outlines next steps for $93.35M Measure FP bond
Summary
Finance Director Stephanie Meyer briefed the Budget and Finance Commission on implementing Measure FP, a $93.35 million general obligation bond approved Nov. 5; staff seeks a financial adviser, bond counsel and construction managers, plans temporary facilities, and proposes a bond oversight committee before issuance.
Finance Director Stephanie Meyer told the Redondo Beach Budget and Finance Commission on Jan. 9 that the city is moving quickly to implement Measure FP, the $93.35 million general obligation bond voters approved Nov. 5, 71.4% to 28.6%.
Meyer said the bond is intended to replace Fire Stations 1 and 2, replace the main police station and renovate a police annex. She outlined immediate steps staff is pursuing: issue competitive requests for a financial adviser and for construction‑management advisers, work with bond counsel to adopt a reimbursement resolution, select a trustee or fiscal agent to manage payments, and create a bond‑project manager position funded by bond proceeds to coordinate city staff and stakeholders.
"This really expresses the…
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