REPORT TO THE CITY COUNCIL
FROM: SANTINO DANISI, Finance Director/City Controller
Finance Department
BY: KALEB NEUFELD, Assistant City Controller
Finance Department
SUBJECT
Title
Tax Equity and Financial Responsibility Act (TEFRA) public hearing.
TEFRA HEARING - To hear and consider information concerning the proposed issuance of tax-exempt bonds by California Statewide Communities Development Authority for the purpose of financing or refinancing the acquisition, construction, improvement, equipping, renovation, rehabilitation, remodeling and other capital projects of certain health facilities owned or operated by Kaiser Foundation Hospitals or its affiliates and located in the City of Fresno.
1. ***RESOLUTION- Approving a plan of finance of the California Statewide Communities Development Authority to issue and reissue revenue bonds for a qualified health facilities project for the benefit of Kaiser Foundation Hospitals or its affiliates, and certain other matters relating thereto. (Subject to Mayor's Veto)
Body
RECOMMENDATION
Adopt the resolution approving the issuance of the Bonds by the California Statewide Communities Development Authority (the "Authority") for the benefit of Kaiser Foundation Hospitals, Kaiser Foundation Health Plan, Inc., Kaiser Health Plan Asset Management, Inc., and Kaiser Hospital Asset Management, Inc., each a California nonprofit public benefit corporation (collectively, "Kaiser") to provide for the financing of the Project, such adoption is solely for the purposes of satisfying the requirements of TEFRA, the Code and the California Government Code Section 6500 (and following).
EXECUTIVE SUMMARY
Kaiser is seeking to obtain financing and refinancing of the acquisition, construction, improvement, equipping, renovation, rehabilitation, remodeling and other capital projects of certain health facilities (the "Project"). The new bonds will be issued by the Authority. As a jurisdiction in which the faciliti...
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