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the Authority, since the subject facility resides within the boundaries <br />of the city, and approve the issuance of the bonds. In addition, a public <br />hearing under the Tax and Equity Fiscal Responsibility Act (TEFRA) must <br />be conducted by the local jurisdiction. The hearing provides an <br />opportunity for the public to support or protest such action to be taken. <br />The bonds to be issued by the Authority are the sole responsibility of <br />the borrower. The City has no financial or legal liability for the <br />project or repayment of the bonds and does not constitute any type of <br />indebtedness for the City. In addition, there are no costs to the City <br />for membership to the Authority. <br />FISCAL IMPACT <br />There is no fiscal impact to the City. <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />75C-2 <br />