CITY OF MERCED - File #: 19-599

• File #: 19-599
• Version: 1
• Type: Public Hearing Item
• Status: Passed
• File created: 9/25/2019
• In control: City Council/Public Finance and Economic Development Authority/Parking Authority/Successor Agency to the Redevelopment Agency
• On agenda: 10/21/2019
• Final action: 10/21/2019
• Title: SUBJECT: Public Hearing Pursuant to the Tax and Equity Fiscal Responsibility Act (TEFRA) and Adoption of a Resolution Approving the Issuance of Revenue Bonds in an Amount Not to Exceed $17,000,000, of Which $6,500,000, Will be Allocated for the Golden Valley Health Centers Project in the City of Merced REPORT IN BRIEF Considers conducting a public hearing under the Tax and Equity Fiscal Responsibility Act (TEFRA) in connection with the proposed issuance of revenue bonds by the California Municipal Finance Authority (CMFA) in an amount not to exceed $17,000,000, of which approximately $6,550,000 will be allocable to a project in the city for the purpose of financing the acquisition of a practice management system at Golden Valley Heath Centers headquarters located at 737 West Childs Avenue, in the City of Merced, California. RECOMMENDATION City Council - Adopt a motion adopting Resolution 2019-65, a Resolution of the City Council of the City of Merced, California, approving the issu...

Date	Ver.	Action By	Action	Result
10/21/2019	1	City Council/Public Finance and Economic Development Authority/Parking Authority/Successor Agency to the Redevelopment Agency	approved	Pass

Report Prepared by: Venus Rodriguez, Finance Officer

Title
SUBJECT: Public Hearing Pursuant to the Tax and Equity Fiscal Responsibility Act (TEFRA) and Adoption of a Resolution Approving the Issuance of Revenue Bonds in an Amount Not to Exceed $17,000,000, of Which $6,500,000, Will be Allocated for the Golden Valley Health Centers Project in the City of Merced

REPORT IN BRIEF
Considers conducting a public hearing under the Tax and Equity Fiscal Responsibility Act (TEFRA) in connection with the proposed issuance of revenue bonds by the California Municipal Finance Authority (CMFA) in an amount not to exceed $17,000,000, of which approximately $6,550,000 will be allocable to a project in the city for the purpose of financing the acquisition of a practice management system at Golden Valley Heath Centers headquarters located at 737 West Childs Avenue, in the City of Merced, California.

RECOMMENDATION
City Council - Adopt a motion adopting Resolution 2019-65, a Resolution of the City Council of the City of Merced, California, approving the issuance of Revenue Bonds by the California Municipal Finance Authority in an aggregate principal amount not to exceed $17,000,000 for the purpose of financing the acquisition, construction, improvement and equipping of facilities for Golden Valley Health Centers and certain other matters relating thereto.

Body
ALTERNATIVES
1. Approve, as recommended by staff, or
2. Approve, subject to conditions other than recommended by staff (identify specific conditions to be addressed in City Council motion), or
3. Deny further action by staff, or
4. Refer back to staff for reconsideration of specific items as requested by City Council, or
5. Continue item to a future City Council meeting (date and time to be specified in the motion).

AUTHORITY
Article II, Section 200 of the Merced Municipal Charter, Tax Equity and Fiscal Responsibility Act and internal Revenue Code of 1986, as amended (the "Code") and the California Government C...