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TEFRA Public Hearing for Mater Del <br />March 1, 2016 <br />Page 3 <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 />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 — Economic Development, <br />Objective #2 (Create new opportunities for business /job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies). <br />FISCAL IMPACT <br />The Authority shares 25 percent of all issuance fees directly with its member communities. With <br />respect to the City of Santa Ana, it is expected that 25 percent of all issuance fees for this project <br />attributable to the City will be granted by the Authority to the City. Upon receipt the funds will be <br />deposited to the Micellaneous Revenues, Miscellaneous Recoveries Revenue Account (no. <br />01102002 - 57010). <br />Kelly Reenders <br />Executive Director <br />Community Development Agency <br />Exhibits: 1. Public Notice <br />2. TEFRA Resolution <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />75A -3 <br />