In 1993, the Calleguas-Las Virgenes Public Financing
Authority (PFA) was formed under the Marks-Roos Local Bond Pooling Act
of 1985 (Act) to provide Calleguas Municipal Water District and Las
Virgenes Municipal Water District with greater flexibility to finance
essential water and wastewater infrastructure. The Act allows local
agencies to form a joint powers authority that may be used, among other
purposes, to consolidate the financing of several capital projects to
achieve lower overall borrowing costs. The PFA may issue bonds and loan
the proceeds to one or both of its member agencies who are responsible
for the debt service.
The PFA Board meets at least once annually, usually at
4:30 p.m., and alternating between Calleguas Municipal Water District,
2100 Olsen Road, Thousand Oaks, and Las Virgenes Municipal Water
District, 4232 Las Virgenes Road, Calabasas.