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________________________________________________________________________________________________ <br />JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD/ January 25, 2016 <br />PUBLIC FINANCING AUTHORITY MEETING AGENDA PAGE 8 <br />1. Staff Report; <br /> <br />2. Open public hearing; <br /> <br />3. Hear public comment; <br /> <br />4. Close public hearing; <br /> <br />5. Council discussion; <br /> <br /> Recommendation: <br /> 1. Conduct the public hearing under the requirements of TEFRA and the <br />Internal Revenue Code of 1986, as amended (the “Code”). <br />2. Adopt the resolution approving the issuance of the Bonds by the California <br />Municipal Finance Authority (CMFA) for the benefit of MidPen Housing <br />Corporation, a California nonprofit corporation and an organization described <br />in Section 501(c)(3) of the Internal Revenue Code of 1986, or a subsidiary or <br />affiliate thereof (the “Borrower”), to provide for the financing of the Project, <br />such adoption is solely for the purposes of satisfying the requirements of <br />TEFRA, the Code and the California Government Code Section 6500 (and <br />following). The resolution will also authorize the Mayor or designee thereof <br />to execute the Joint Exercise of Powers Agreement with the CMFA <br /> <br />RESOLUTION APPROVING, AUTHORIZING AND DIRECTING EXECUTION OF A <br />JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE CALIFORNIA <br />MUNICIPAL FINANCE AUTHORITY AND APPROVING THE ISSUANCE OF <br />REVENUE BONDS BY THE AUTHORITY FOR THE PURPOSE OF FINANCING <br />THE ACQUISITION AND REHABILITATION OF A MULTIFAMILY RENTAL <br />HOUSING FACILITY FOR THE BENEFIT OF MIDPEN HOUSING CORPORATION <br />OR AN ENTITY TO BE CREATED THEREBY <br /> <br />10. MATTERS OF COUNCIL INTEREST <br /> <br /> A. City Council Member Report of Conferences Attended <br /> <br /> B. City Council Committee Reports <br /> <br /> C. City Manager (Oral) Update <br /> <br /> Staff contact: Melissa Stevenson Diaz, City Manager 780 -7301 mdiaz@redwoodcity.org <br /> <br /> D. City Attorney Report from Closed Sessions <br /> <br /> Staff contact: Michelle Marchetta Kenyon, Acting City Attorney 780-7200 mkenyon@redwoodcity.org <br /> <br />11. ADJOURNMENT <br /> <br />The next Special Meeting of the City Council will be February 1, 2016 and the next <br />Regular City Council meeting is scheduled for February 8, 2016. <br />