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<br /> <br /> <br /> <br /> REQUEST FOR <br /> COUNCIL ACTION <br /> <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> <br /> NOVEMBER 15, 2010 <br /> TITLE: APPROVED <br /> El As <br /> PUBLIC HEARING ON ISSUANCE OF TAX F1 As Amend d Recommended <br /> EXEMPT BONDS FOR THE BENEFIT OF ? Ordinance on 1" Reading <br /> MATER DEI HIGH SCHOOL AND ? Ordinance on Red Reading <br /> ? Implementing Resolution <br /> RESOLUTION APPROVING THE ? Set Public Hearing For <br /> ISSUANCE OF BONDS <br /> CONTINUED TO <br /> 1 <br /> FILE NUMBER <br /> CITY MANAGER <br /> RECOMMENDED ACTION <br /> 1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing considering the <br /> issuance of tax exempt bond financing by the California Municipal Finance Authority on <br /> behalf of The Roman Catholic Bishop of Orange, a corporation existing under the laws of the <br /> State of California, and described in Section 501(c)(3) of the Internal Revenue Code of 1986, <br /> for the benefit of Mater Dei High School to finance and refinance the acquisition, construction <br /> and improvement of educational facilities located at their site in Santa Ana, California. <br /> <br /> 2. Adopt a resolution approving the issuance of revenue bonds by the Authority in an amount <br /> not to exceed $25,500,000 to finance and refinance the acquisition, construction and <br /> improvement of educational facilities located at their sites in Santa Ana, California. <br /> <br /> <br /> DISCUSSION <br /> <br /> Mater Dei High School has been a prominent Catholic institution in Santa Ana since 1950. It is <br /> recognized nationally as a premier high school with a current enrollment of 2,100 students. To <br /> accommodate future growth and to upgrade and expand the existing infrastructure, Mater Dei <br /> embarked on a capital campaign. <br /> <br /> Mater Dei is seeking to refinance their existing debt and to purchase 19 parcels to expand their <br /> current campus. Acquisition is to include all or a portion of the land located at the following <br /> addresses: 1126, 1127, 1130, 1131, 1134 and 1138 W. Berkeley Street; 1126, 1127, <br /> 1130,1131,1134,1135, 1138, 1139 W. Occidental Street; and 1125, 1129, 1133 and 1137 W. <br /> Saint Andrew Place; and 1201 W. Edinger Avenue. <br /> <br /> Mater Dei High School has requested the assistance of the California Municipal Finance <br /> Authority (Authority). The Authority, which was established in 2004, was formed to assist local <br /> governments and non-profit organizations and businesses with the issuance of taxable and tax <br /> <br /> <br /> <br /> 75C-1 <br />