Board of Supervisors Tues Mtg 08-04-26 · Joint Exercise of Powers Agmnt

The County of Lake Board of Supervisors held a meeting on August 4, 2026, to discuss and approve amendments to the Joint Exercise of Powers Agreement (JPA) that established the Lake County Public Financing Authority. The primary procurement-related focus was on restructuring the JPA membership by removing the Lake County Sanitation District, which was becoming independent, and adding the Lake County Watershed Protection District, both county-administered entities. Legal and financial advisors confirmed that this restructuring would not adversely affect existing bonds issued in 2011 through the authority. The board debated the timing and implications of the changes, with concerns raised about the potential impact on bond covenants and credit ratings. After discussion and public comment, the board adopted resolutions authorizing the amendments to the JPA, including substituting members, with a unanimous vote of 5-0. This action ensures the financing authority remains valid and aligned with current county entities, facilitating ongoing and future public financing activities.