City Council

18. TAX EXEMPT BONDS ISSUANCE BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY FOR MAGNOLIA RIDGE The California Municipal Finance Authority (CMFA) has received an application to issue up to $15,705,000 in tax-exempt qualified 501(c)(3) revenue bonds to finance the acquisition and rehabilitation of Magnolia Ridge, a 48-space manufactured housing community at 2616 West Orangethorpe Avenue. Federal law requires approval by the City Council under Section 147(f) of the Internal Revenue Code before the tax-exempt bonds may be issued. Proposed Motion: 1. Adopt Resolution No. 2026-XXX. RESOLUTION NO. 2026-XXX - A RESOLUTION OF THE CITY COUNCIL OF THE AND CONDITIONS HEREIN SET FORTH, THE ISSUANCE BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY OF ONE OR MORE SERIES OF TAXABLE MOBILE HOME PARK REVENUE BONDS AND / OR TAX-EXEMPT MOBILE HOME PARK REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $15,705,000, WHICH WILL FINANCE MAGNOLIA RIDGE, A MOBILE 2. Authorize the City Manager, or designee, to execute and administer all documents and actions necessary to implement the Resolution.