City Council

23.\nStaff recommends that the City Council:\n1) Conduct the public hearing under the requirements of\nTax and Equity Fiscal Responsibility Act (TEFRA) and the\nInternal Revenue Code of 1986, as amended (the “Code”);\nand\n2) Adopt a resolution approving the issuance of qualified\n501(c)(3) bonds as defined in Section 145 of the Internal\nRevenue Code of 1986 (the “Code”) by CMFA for the\nbenefit of Maple Housing Foundation (the “Borrower”), in an\naggregate principal amount not to exceed $105,000,000,\n(the “Bonds”) for the purpose of financing or refinancing the\nacquisition, rehabilitation, improvement and equipping of\nSunterra multifamily rental housing located at 3851\nSherbourne Drive within the City of Oceanside, California\n(the “City”).\n25-1143\nCity Council:\nA) Mayor opens public hearing\nB) Mayor requests disclosure of Councilmember and constituent contacts\nand correspondence\nC) Clerk presents correspondence and/or petitions\nD) Testimony beginning with Salvador Roman, Senior Management Analyst\nE) Recommendation - adopt resolution\nCITY MANAGER ITEMS