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City Manager Cavazos, indicated that development agreement will return <br />to City Council at next meeting; all bonds to be paid for by Mater Dei and <br />City to receive some fees in return. <br />Councilmember Martinez, asked for clarification on bond approval <br />requirement and purpose of bonds. <br />Ben Barker, representing Mater Dei, noted that it is a private bond that <br />requires City action; proposed expansion of school and refinance debt. <br />Patrick Murphy, president of Mater Dei noted that it's a refinancing of <br />bonds; additional funds would be used for expansion of school <br />Councilmember Martinez, asked what would happen if development <br />agreement extension is not approved? Area residents concerned with <br />expansion and wanted to note for the record that project it is not City <br />funding and in the works for many years. <br />MOTION: Adopt a resolution. <br />RESOLUTION NO. 2016-017 - RESOLUTION OF THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA APPROVING THE ISSUANCE OF THE <br />CALIFORNIA MUNICIPAL FINANCE AUTHORITY REVENUE BONDS <br />(MATER DEI HIGH SCHOOL) SERIES 2016, IN ONE OR MORE SERIES <br />IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED <br />$9,200,000, FOR THE PURPOSE OF FINANCING AND REFINANCING <br />THE CONSENSUAL ACQUISITION OF PROPERTY, AS WELL AS THE <br />CONSTRUCTION AND IMPROVEMENT OF PARKING FACILITIES AND <br />CERTAIN OTHER MATTERS PERTAINING THERETO <br />MOTION: Martinez SECOND: Reyna <br />VOTE: AYES: Benavides, Pulido, Martinez, Reyna, Tinajero <br />(5) <br />NOES: None (0) <br />ABSTAIN: None (0) <br />ABSENT: Amezcua, Sarmiento (2) <br />CITY COUNCIL RECESSED AT 6:14 P.M. TO THE HOUSING AUTHORITY MEETING <br />AND RECONVENED THE CITY COUNCIL MEETING AT 6:24 P.M. WITH SAME <br />MEMBERS PRESENT. <br />CITY COUNCIL MINUTES 13 MARCH 1, 2016 <br />