Meeting Time: May 11, 2020 at 5:30pm PDT
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Agenda Item

6. Conduct a public hearing under the Tax and Equity Fiscal Responsibility Act (“TEFRA”) and the Internal Revenue Code of 1986, as amended, in connection with the proposed issuance of revenue bonds by the California Municipal Finance Authority (AUTHORITY), a joint exercise of powers Authority and public entity organized under the laws of the State of California, in an amount not to exceed $38,000,000, to finance the costs of the acquisition, rehabilitation, improvement and equipping of the Dahlia Court I Apartments located at 1305 Dahlia Court, and two multifamily rental housing facilities for low-income households located in the City of Santa Barbara (Project); and Adopt Resolution No. 5967, as read by title only, approving, authorizing and directing execution of a Joint Exercise of Powers Agreement with the AUTHORITY, and approving the issuance of revenue bonds by the AUTHORITY, for the benefit of Peoples’ Self-Help Housing Corporation or an affiliate thereof, to finance and refinance the acquisition, rehabilitation, improvement and equipping of the Project. (Requires a roll call vote.)