Title
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 047-2017 approving the issuance of bonds by the California Municipal Finance Authority, in the aggregated principal amount not to exceed $21,000,000, to finance the acquisition of an approximately 1.4-acre site and the existing improvements thereon, including an approximately 80,000 square-foot building, and for the improvement of the site and the building and the acquisition and installation of fixtures, furniture and equipment for public charter school use located in unincorporated El Dorado County at 1102 Investment Blvd., El Dorado Hills, (unincorporated El Dorado County), California. The Bonds to be issued by the California Municipal Finance Authority 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 Revenue Bonds (John Adams Academy, El Dorado Hills Project) Series 2018.
Body
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 047-2018 approving the issuance of bonds by the California Municipal Finance Authority (CMFA), in the aggregated principal amount not to exceed $21,000,000, the Bonds, to finance the acquisition of an approximately 1.4-acre site and the existing improvements thereon, including an approxima...
Click here for full text