City Council

3A. Conduit Financing for the Rancho Brea Project\n— 1. Conduct the public hearing under the requirements of the Tax and\nEquity Fiscal Responsibility Act (TEFRA) and the Internal Revenue Code of\n1986, as amended (the “Code”), in connection with the proposed issuance\nof revenue bonds by the California Municipal Finance Authority (the “CMFA”),\na joint exercise of powers authority and public entity of the State of\nCalifornia, in an amount not to exceed $166,000,000, (the “Bonds”), to (a)\npay costs of the 2024 New Money Project (as defined below) and (b)\nrefund all or a portion of the Authority’s outstanding Mobile Home Park\nSenior Revenue Bonds (Caritas Affordable Housing, Inc. Projects), Series\n2014A (the “2014A Bonds”), and Mobile Home Park Subordinate Revenue\nBonds (Caritas Affordable Housing, Inc. Projects), Series 2014B (the “2014B\nBonds” and, together with the 2014A Bonds, the “2014 Bonds”), which 2014\nBonds were issued to finance and refinance the 2014 Project (as defined\nbelow, and as referred to herein collectively with the 2024 New Money\nProject, the “Project”)\n— 2. Adopt Resolution No. 2024-032 approving the issuance of the Bonds\nby the CMFA for the benefit of Caritas Affordable Housing, Inc. (the\n“Corporation” and, together with the LLCs, the “Borrowers”), to provide for\nthe financing of the Project, such adoption is solely for the purposes of\nsatisfying the requirements of TEFRA, the Code and the California\nGovernment Code Section 6500 (and following).