City Council

29.\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 CSCDA for the\nbenefit of Bedford Sunterra Apartments, LLC (the\n“Borrower”), in an aggregate principal amount not to exceed\n$105,000,000, (the “Bonds”) for the purpose of financing or\nrefinancing the acquisition, rehabilitation, improvement and\nequipping of Sunterra multifamily rental housing located at\n3851 Sherbourne Drive within the City of Oceanside,\nCalifornia (the “City”).\n26-1309\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) Discussion\nF) Recommendation - adopt resolution