DATE: June 13, 2017
TO: Mayor and City Council
FROM: Library and Community Services Director
SUBJECT
Title
Public TEFRA Hearing as Required by the Internal Revenue Code of 1986, and Adoption of a Resolution Authorizing the Issuance of Bonds by the California Statewide Communities Development Authority for the Maple and Main Apartments
End
RECOMMENDATION
Recommendation
That Council:
1. Conducts a public hearing to consider the issuance Tax-Exempt Multifamily Housing Revenue Bonds by the California Statewide Communities Development Authority (the “Authority”) to assist in the financing of the Maple and Main Apartments.
2. Adopts the attached resolution approving the issuance by the Authority of Tax-Exempt Multifamily Housing Revenue Bonds for purposes of Section 147 (f) of the Internal Revenue Code of 1986.
End
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Abbreviations Used in the Report