Review, approve, modify or deny debt financing proposals. No debt financing proposal is considered by the Board of Supervisors unless specifically recommended in writing by the PFAC;
Select, subject to ratification by the Board of Supervisors, all financing professionals required to assist in the structuring of public financings (bond counsel, underwriters, trustees, financial advisors, etc.);
Review and approve all debt financing documents;
Ensure that a written plan of due diligence is completed for each public financing, and ensure that the plan of due diligence provides reasonable assurance that the Official Statement and other disclosure documents utilized in connection with a public financing is in compliance with all applicable state and federal laws;
Ensure full and fair disclosure of actual or potential conflicts of interest resulting from financial and other relationships among financing professionals and the County or other County related issuer.
The PFAC is comprised of five public voting members appointed by the Board of Supervisors and the Treasurer-Tax Collector, Auditor-Controller and the County Executive Officer as non-voting ex-officio members.
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