Laserfiche WebLink
TEFRA Hearing — Town and Country Manor <br />September 4, 2018 <br />Page 3 <br />portion of the issuance fees it receives with its member communities and donates a portion of <br />these issuance fees to the Foundation for the support of local charities. With respect to the City of <br />Santa Ana, it is expected that 25 percent of the issuance fee will be granted by the CMFA to the <br />general fund of the City. Such grant may be used for any lawful purpose of the City. <br />The CMFA does not receive issuance fees until a bond issuance closes. The fees the CMFA <br />receives are based upon the par amount of the bonds issued. The Borrower ultimately decides <br />when and if the bonds are actually issued and the final amount of bonds issued. The amount <br />granted to the City is to be determined but will not exceed $12,500 under the assumption the <br />entire $45,000,000 in bonds are issued. Upon receipt, the funds will be deposited to the <br />Miscellaneous Revenues, Miscellaneous Recoveries Revenue Account (no. 01102002-57010). <br />Steven A. Mendoza oz <br />Executive Director <br />Community Development Agency <br />Exhibits: 1. Resolution <br />2. Notice to Applicant <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Sergio Vidal s,¢, <br />Acting Executive Director <br />Finance and Management Services Agency <br />75D-3 <br />