Finance Authority

Clayton Financing Authority

The Clayton Financing Authority was established December 4, 1990. The City Council sits as the Board of Directors for the Clayton Financing Authority.

The Authority shall have the power to do each of the following:

Finance and refinance, through the issuance of bonds of other instruments of indebtedness, Public Capital Improvements and Working Capital and other costs as permitted by the JPA Law and the Bond Pooling Act;

Purchase and sell Obligations;

Incur debts, liabilities, and obligations;

Acquire, hold or dispose of real and personal property

Receive contributions and donations of property, funds, services, and other forms of assistance from any source;

Sue and be sued in its own name;

Employ agents and employees;

Acquire, construct, rehabilitate, remodel, install, manage or operate buildings, works, or improvements;

Lease real and personal property (including that of a Member of Local Agency) as lessor and as lessee;

Receive, collect and disburse monies;

Invest money in the treasury of the Authority in the same manner and on the same conditions as local agencies pursuant to Government Code Section 53601;

Exercise all other powers necessary and proper to carry out the provisions of this Agreement