City Council

A. Public Hearing and Adoption of Resolution Approving the California Enterprise Development Authority\n(CEDA) to Issue Revenue Obligations for New Roads School\nRecommended Action\nStaff recommends that the City Council:\n1. Hold a public hearing under the requirements of the Tax and Equity Fiscal Responsibility\nAct (“TEFRA”) and the Internal Revenue Code of 1986, as amended;\n2. Adopt a resolution approving the issuance of California Enterprise Development\nAuthority Revenue Obligations (the “Obligations”) in an amount not-to-exceed\n$25,000,000 for the benefit of New Roads School, a California nonprofit public benefit\ncorporation, or a related or successor entity (the “Borrower”); and\n3. Adopt a finding of no possibility of significant impact pursuant to Section 15061(b)(3)\n(Common Sense Exemption) of the California Environmental Quality Act (CEQA)\nGuidelines\nStaff Report Printout\na. Attachment A - New Roads School Santa Monica City Council Resolution 11382\nb. New Roads School Santa Monica City Council Resolution 070623 (001)