City Council

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