75A - PH TAX EXEMPT BOND MATER DEI HS

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Mater Dei High School — TEFRA Hearing November 21, 2017 Page 3 12 013-224-07 1131 W. Berkeley Street Santa Ana CA 92707 13 013-225-11 1134 W. Berkeley Street Santa Ana CA 92707 14 013-225-10 1138 W. Berkeley Street Santa Ana CA 92707 15 013-225-06 1127 W. Occidental Street Santa Ana CA 92707 16 013-226-09 1134 W. Occidental Street Santa Ana CA 92707 17 013-226-10 1138 W. Occidental Street Santa Ana CA 92707 18 013-225-09 1139 W. Occidental Street Santa Ana CA 92707 19 015-220-01 1201 W. Saint Andrew Place Santa Ana CA 92707 The Project and the Parking Facility are to be owned by the Borrower, a corporation solely organized and existing under the laws of the State of California and described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, for the benefit of the School. The Project and the Parking Facility will be operated by or on behalf of the School. The Borrower has requested the assistance of the CMFA. The CMFA, which was established in 2004, was formed to assist local governments and non-profit organizations and businesses with the issuance of taxable and tax exempt bonds with the goal to promote economic, cultural, and community, development. The City is a member of the Authority. However, in order for all or a portion of the Bonds to qualify as tax-exempt bonds, a governmental unit having jurisdiction over the area in which the Project is located must conduct a public hearing (the "TEFRA Hearing") providing for the members of the community an opportunity to speak in favor of or against the use of tax-exempt bonds for the refinancing of the Project. Following the close of the TEFRA Hearing, an "applicable elected representative" of the governmental unit hosting the Project, in this case the City, must provide its approval of the issuance of the Bonds by the Authority for the refinancing of the Project. The bonds to be issued by the Authority are the sole responsibility of the borrower. The City has no financial or legal liability for the project or repayment of the bonds and does not constitute any type of indebtedness for the City. In addition, this TEFRA Hearing and the adoption of the Resolution shall not obligate the City or any department thereof to (i) provide any financing to acquire or construct the Project or any refinancing of the Project; (ii) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition, construction, rehabilitation, installation or operation of the Project; (iii) make any contribution or advance any funds whatsoever to the Authority; or (iv) take any further action with respect to the Authority or its membership therein. In general, this action by the City of Santa Ana will not obligate the City or any department thereof to undertake any discretionary action related to the development of the project. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal # 2 — Youth, Education, Recreation, Objective # 4 (Partner with groups and organizations to promote education, senior services, job training and development for all Santa Ana residents). 75A-3