City Council

9C. Finance - Conduct Public Hearing and Adopt RESOLUTION Approving Issuance of Revenue\nObligations for Benevolence Industries Incorporated’s Financing Purpose. Expenditure: None.\nRecommendation of the Finance Director that City Council:\n1. Conduct a public hearing under the requirements of the federal Tax Equity and Fiscal Responsibility\nAct (TEFRA) and the Internal Revenue Code of 1986, as amended (the “Code”), by Resolution; and\n2. Adopt a RESOLUTION approving the issuance of the California Enterprise Development Authority\nRevenue Obligations (“Obligations”) in an aggregate principal amount not to exceed $37,000,000 for\nthe purpose of financing and refinancing the cost of the acquisition, construction, renovation,\nequipping and furnishing of healthcare facilities and other related and appurtenant facilities for the\nbenefit of Benevolence Industries Incorporated, d/b/a Benevolence Health Centers, a California\nnonprofit public benefit corporation, located at: 1010 Crenshaw Boulevard, Suite 100, Torrance,\nCalifornia 90501 (the “Torrance Facility”); 505-515 North Arrowhead Avenue, San Bernardino,\nCalifornia 92401; 1126 East South Street, Long Beach, California 90805; 303 North East Street,\nAnaheim, California 92805; 3631 Crenshaw Boulevard, Suite 109, Los Angeles, California 90016;\nand 12610 Glenoaks Boulevard (also known as 14040 Hubbard Street), Sylmar, California 91342\n(collectively with the Torrance Facility, “Facilities”), and providing the terms and conditions for such\nObligations and other matters relating thereto.