Public Finance Corporation

(Authoritative)

Established:

The Public Finance Corporation is a non-profit corporation created in March, 1996.

Mission/Purpose:

To purchase the Matchett Property by issuing Certificates of Participation (COPs) and then leasing it back to the City. The COPs were paid off December, 2006. Public Finance Corporation is now the lessee on the COPs for the Lincoln Park Stadium Improvements (City Hall is the collateral).

Membership/Terms:

There are three members on the board: the City Manager and two citizens.

Meetings:

They have an annual meeting in January.

Other information:

In 2006, the Certificates of Participation for Matchett Park were paid off.