Supervisors move to put CalPFA/CALCHA receipts in reserve, debate earmarks for local needs
Board directed staff to deposit PFA and CALCHA-related receipts into an interest-bearing reserve; supervisors and community members urged earmarking portions for public safety equipment, park repairs and cemetery needs, and the board asked staff to return with itemized proposals for later board approval.
The full story
Kings County staff presented an item seeking formal action to designate deposits from the California Public Finance Authority and the California Community Housing Agency as restricted and place the funds in an interest-bearing reserve account. The revenue derives from administrative fees tied to bond transactions handled by joint powers authorities.
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