City Council

23. HOLD TAX EQUITY AND FISCAL RESPONSIBILITY ACT (TEFRA) HEARING AND ADOPT A RESOLUTION FOR THE CALIFORNIA\nMUNICIPAL FINANCE AUTHORITY (CMFA) FOR THE BENEFIT OF\nCOLORADO GRAND OAKS LP, APARTMENT PROJECT LOCATED AT 2155-2193 EAST COLORADO BOULEVARD (Finance Dept.)\nRecommendation: It is recommended that the City Council:\n(1) Hold a TEFRA hearing; and\n(2) Adopt a Resolution of the City Council of the City of Pasadena approving the issuance of the California Municipal Finance Authority (CMFA)\nExempt Facility Bonds in an aggregate principal amount not-to-exceed\n$50,000,000 for the purpose of financing or refinancing the acquisition, construction, improvement, and equipping of the Colorado Grand Oaks, LP\nand certain other matters relating thereto specified in the agenda report.\nRESOLUTION