ANT September 12, 2018 Civil Grand Jury - Foreperson*

function that each member has the legal authority to provide. This shared approach results in cost savings and better efficiency on behalf of taxpayers. The City agrees with the finding.

The Circular JPAs with a single controlling entity, such as a City Council, have the potential to avoid legal debt limits and provide limited disclosures to taxpayer. The City disagrees with the finding. Revenue bonds issued by a JPA still have to be approved by the governing board at a public meeting that is noticed. When issuing bonds, the City of Antioch utilizes independent bond counsel and financial advisor to ensure the proposed issuance is financially feasible and done in compliance with any government codes.

In Contra Costa County, there are 12 Circular JPAs created by cities with RDAs that no longer exist. These JPAs may no longer be valid because each is a member of another Financial JPA which may take on new debt without prohibition (Gov. Codes Sections 6505 3416/34170 et. Seq,) place on Successor Agencies. Based on the list provided by the Grand Jury, there are only 11 Circular JPA's as the Grand Jury inaccurately reported that the Antioch Public Facilities Financing is between the City of Antioch . . . entitus est a territoria. time complete the second क्ष्युचे प्रमानुसम्बद्धाः स्थान् । १००० वर्षाः वर्षाः विकास स्थानसम्बद्धाः । १०० व्यक्तः विकास १४४० n tale fre encapy, in a light in the light in the property can be failed by the contribution of the contribution of the contribution of the contribution of the contribution of the contribution of the contribution of the co i se tavili i i parti liegiti i i i i i i i i i i or a factor who are productive to the control ាយក្រស់ នៅមានស្ថាស្ត្របានស្រុះប្រើស្រាស់ មកនាងសមានការប្រជា of Sale A Geodories of the control of the action of क्षेत्रेक्ष रहे जे हैं है है है है जिसके क्षेत्र क्षेत्रीय के हैं के मुख्य के बहुत है जो का कर है है entrolle, chia sull'ellament gri, so paristi displata e la chia del jedinas ali ibilikin kaliman ji mrakinja kobilimaki esa mijuru da jimb gregoria (h. 1862). Esta de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina de la Constantina t to all and in the control of the area of the control of the control of the control of the control of the control of the control of the control of the control of the control of the control of the control of the control of ouis de la participa de entre de est algor para d'antico de 40 de la participa.Le cetto ago atronomiento de esta de agreca productiva de la composição de la composição de la composição de a an ing taong taong ang ang ang ang ang ang ang ang ang a in the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state o n a chailt den gair an am an gaile ann ann an airte an an an an an an an an an an an an an and its RDA. The name of this JPA is in fact "Antioch Area Public Facilities Financing Agency" and is between the City of Antioch and the Antioch Unified School District. The City disagrees with the finding as the Circular JPAs may still issue non-redevelopment debt and also may have the ability to refinance existing redevelopment debt if done in compliance with government code guidelines and approved by the State Department of Finance.

Cities that have created the 12 Financial JPAs do not provide JPA-specific financial information in their budget document. As a result, the public may have difficulty evaluating JPA's financial performance. The City disagrees with the finding. The City of Antioch includes a section in its budget document entitled "Antioch Public Financing Authority" for the budget information of the JPA. Information on debt repayment is also included in the budget document. As far as the Antioch Area Public Facilities Financing Agency, this is not a component unit of the City or School District and therefore financial information cannot be included in the City's budget document. That JPA establishes its own budget and records are maintained by both the City and School District.