City Council

8. TEFRA Hearing for Aztec Mobile Home Estates Conduit Financing\nRecommendation:\nThat the Town Council:\n1. Conduct the public hearing under the requirements of TEFRA\nand the Internal Revenue Code of 1986, as amended.\n2. Adopt the resolution approving the issuance of private, conduit,\ntax-exempt bonds (“Bonds”) by the California Municipal Finance\nAuthority (“CMFA”) for the benefit of Caritas Affordable Housing,\nInc. (“Caritas”), to provide for the financing of the Project, such\nadoption being solely for the purposes of satisfying the\nrequirements of the Tax Equity and Fiscal Responsibility Act\n(“TEFRA”), the Internal Revenue Code of 1986, as amended, and\nthe California Government Code Section 6500 (and following).\nA RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF YUCCA VALLEY\nAPPROVING THE ISSUANCE OF TAX EXEMPT REVENUE BONDS PURUSANT\nTO A PLAN OF FINANCE IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO\nEXCEED $166,000,000 BY THE CALIFORNIA MUNICIPAL FINANCE\nAUTHORITY FOR THE PURPOSE OF FINANCING AND REFINANCING THE\nACQUISITION AND IMPROVEMENT OF THE ACQUISITION, CONSTRUCTION,\nIMPROVEMENT AND EQUIPPING OF CERTAIN PROPERTIES CONSISTING OF\nMOBILE HOME PARKS AND AN APARTMENT COMPLEX BY ONE OR MORE\nCALIFORNIA LIMITED LIABILITY COMPANIES WHOSE SOLE MEMBER WILL\nBE CARITAS AFFORDABLE HOUSING, INC., AND CERTAIN OTHER MATTERS\nRELATING THERETO\nDEPARTMENT REPORTS: