Goals Met, Fountain Valley Panel Disbands
FOUNTAIN VALLEY — The Fountain Valley Improvement Authority, which since 1968 has been buying land for such public buildings as City Hall, has fulfilled its obligations and will soon be dissolved.
City officials said authority bonds have been paid off and plans are underway to dissolve the panel by September. The Improvement Authority sold more than $1 million in bonds since it was created Jan. 1, 1968, by the city and county for the purpose of acquiring sites and constructing public buildings for city services.
Over the years, the authority bought land for City Hall, the former library and former police building, a community center, the corporation yard for public works and Harper Park.
With earnings from the investment of the bond principal and interest, the authority approved renovation projects to the Community Center to remove asbestos, remodel the kitchen and make the building accessible to the disabled. In July, 1987, the authority approved money to renovate City Hall and build a library.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
