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HEARING - Community Development Services, Planning and Building Department, recommending the Board conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act of the Internal Revenue Code of 1986, as amended, to consider adoption and authorizing the Chair to sign Resolution 131-2017 approving the issuance of bonds by the California Municipal Finance Authority, in the aggregated principal amount not to exceed $30,000,000, to finance and refinance the cost of the acquisition and improvement of educational facilities located at 4250 Town Center Boulevard, El Dorado Hills (unincorporated El Dorado County), California, with the Bonds to be issued by the CMFA for the Project will be the sole responsibility of the Borrowers, and the County will have no financial, legal, moral obligation, liability or responsibility for the Project, or the repayment of the Bonds for the financing of the Project. (Est. Time: 5 Min.)
FUNDING: California Municipal Finance Authority Charter School Lease Revenue Bonds (John Adams Academy, El Dorado Hills) Series 2017.
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DEPARTMENT RECOMMENDATION
HEARING: Community Development Services (CDS), Planning and Building Department, recommending the Board conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act (TEFRA) of the Internal Revenue Code of 1986, as amended, to consider adoption of Resolution 131-2017 approving the issuance of bonds by the California Municipal Finance Authority (CMFA), in the aggregated principal amount not to exceed $30,000,000, the Bonds, to finance and refinance the cost of the acquisition and improvement of educational facilities located at 4250 Town Center Boulevard (Blvd.), El Dorado Hills (unincorporated El Dorado County), California (the Project).
DISCUSSION / BACKGROUND
John Adams Academies, Inc., on behalf of JAA El Dorado Hills Holdings, LLC, a California limited liability company has requested that the CMFA serve as the ...
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