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6.1.K. - Page 51 <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 /> RESOLUTION NO. 15473 APPROVING, AUTHORIZING AND DIRECTING <br /> EXECUTION OF A JOINT EXERCISE OF POWERS AGREEMENT RELATING TO <br /> THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY AND APPROVING THE <br /> ISSUANCE OF REVENUE BONDS BY THE AUTHORITY FOR THE PURPOSE <br /> OF FINANCING THE ACQUISITION AND REHABILITATION OF A MULTIFAMILY <br /> RENTAL HOUSING FACILITY FOR THE BENEFIT OF MIDPEN HOUSING <br /> CORPORATION OR AN ENTITY TO BE CREATED THEREBY <br /> M/S Borgens/Gee to adopt the resolution approving the issuance of the <br /> Bonds by the California Municipal Finance Authority (CMFA) for the <br /> benefit of MidPen Housing Corporation, a California nonprofit <br /> corporation and an organization described in Section 501(c)(3) of the <br /> Internal Revenue Code of 1986, or a subsidiary or affiliate thereof (the <br /> "Borrower"), to provide for the financing of the Project, such adoption <br /> is solely for the purposes of satisfying the requirements of TEFRA, the <br /> Code and the California Government Code Section 6500 (and <br /> following). The resolution will also authorize the Mayor or designee <br /> thereof to execute the Joint Exercise of Powers Agreement with the <br /> CMFA. Motion carried unanimously by electronic vote. <br /> 10. MATTERS OF COUNCIL INTEREST <br /> A. City Council Member Report of Conferences Attended <br /> B. City Council Committee Reports <br /> C. City Manager (Oral) Update <br /> Staff contact: Melissa Stevenson Diaz, City Manager 780-7301 mdiaz @redwoodcity.org <br /> D. City Attorney Report from Closed Sessions <br /> Staff contact: Michelle Marchetta Kenyon,Acting City Attorney 780-7200 mkenyon @redwoodcity.org <br /> JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD/ January 25, 2016 <br /> PUBLIC FINANCING AUTHORITY MEETING MINUTES PAGE 9 <br />