City Council

10. Conduct Tax Equity and Fiscal Responsibility Act (TEFRA) Hearing. Conduct a Tax Equity and\nFiscal Responsibility Act (TEFRA) Hearing, adopt resolutions approving the form of associate\nmembership agreement and the issuance of revenue obligations for the benefit of Heights\nChristian Schools.\nStaff Report by: Nadyne Lowry, Deputy Director of Finance.\nRECOMMENDATION: 1) Conduct a public hearing as required by Section 147(f) of the Internal\nRevenue Code of 1986 to receive comments relating to the issuance by the California\nEnterprise Development Authority (the “Authority”) of not to exceed $36,100,000 of the\nAuthority’s Revenue Obligations (the “Obligations”) for the benefit of Heights Christian Schools,\na California nonprofit religious corporation (the “Borrower”); 2) Adopt Resolution No. 2023-032\napproving an Associate Membership Agreement between the City of Chino and the Authority; 3)\nAdopt Resolution No. 2023-033 approving the issuance of the Obligations by the Authority to\nfinance and refinance the Facilities for the benefit of the Borrower.\nM _____ S _____ RC _____