City Council

14.3 Consideration and Adoption of Two Resolutions: (1) to Approve Associate Membership and the Execution of an Associate Membership Agreement with the California Enterprise Development Authority; and (2) to Approve the Issuance of Tax- Exempt Revenue and/or Taxable Revenue Obligations by the California Enterprise Development Authority for the Benefit of Herald Christian Health Center. RECOMMENDATION OF BUSINESS ITEM UNDER CONSIDERATION: It is recommended that the City Council: 1. Consider and adopt a Resolution to approve associate membership and the execution of an Associate Membership Agreement with the California Enterprise Development Authority; and 2. Consider and adopt a Resolution to approve the issuance of tax-exempt revenue and/or taxable revenue obligations by the California Enterprise Development Authority in the aggregate principal amount not to exceed $4,000,000 for the purpose of financing, refinancing and/or reimbursing the cost of acquisition, construction, improvement, installation, equipping and furnishing of Facilities, providing the terms and conditions for such Obligations, and other matters relating thereto for the benefit of Herald Christian Health Center; and 3. Authorize and direct the City Manager, or designee, to execute the Associate Membership Agreement, and all other necessary documents, and take any other action needed, to effectuate the intent of these Resolutions. Total Cost: N/A Account No: N/A Is the cost of this item budgeted? N/A Resolution No. 10724 Resolution No. 10725