Laserfiche WebLink
<br /> <br /> <br /> Public Hearing on Issuance of <br /> Tax Exempt Bonds for the Benefit of <br /> Mater Dei High School <br /> November 15, 2010 <br /> Page 2 <br /> <br /> exempt bonds with the goal to promote economic, cultural, and community development. The <br /> City is a member of the Authority. <br /> <br /> For all or a portion of the Bonds to qualify as tax-exempt bonds, the City of Santa Ana must <br /> conduct a public hearing (the "TEFRA Hearing") providing the members of the community an <br /> opportunity to speak in favor of or against the use of tax-exempt bonds for the financing of the <br /> project. Following the close of the TEFRA Hearing, an "applicable elected representative" of the <br /> governmental unit hosting the project, in this case the City, must provide its approval of the <br /> issuance of the Bonds by the Authority for the financing. <br /> <br /> The bonds to be issued by the Authority are the sole responsibility of the borrower. The City has <br /> no financial or legal liability for the project or repayment of the bonds and does not constitute any <br /> type of indebtedness for the City. <br /> <br /> <br /> FISCAL IMPACT <br /> <br /> There is no fiscal impact to the City. <br /> <br /> <br /> <br /> <br /> <br /> Francisco Gutierrez <br /> Executive Director <br /> Finance & Management Services Agency <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 75C-2 <br />