Title
Conduit Financing for the Franciscan / Towne & Country Mobile Home Park
Recommended Action
Approve a Resolution approving the issuance of bonds by the California Municipal Finance Authority, a joint exercise of powers authority and public entity of the State of California (“CMFA”) for the benefit of one or more California limited liability companies (“LLCs”), whose sole member is or will be Caritas Affordable Housing, Inc. (the “Corporation” and, together with the LLCs, the “Borrower”), a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), to provide for the financing of the Project (the acquisition and improvement of apartment complexes and mobile home parks), such adoption is solely for the purposes of satisfying the requirements of TEFRA, the Code and the California Government Code Section 6500 (and following).