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Legislative Title:
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A public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the “Code”) will be held with respect to a proposed plan of financing providing for the issuance by the California Municipal Finance Authority (the “Authority”) of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of the Code in one or more series issued from time to time, including bonds issued to refund such exempt facility bonds in one or more series from time to time, in an amount not to exceed $11,000,000 (the “Bonds”). The proceeds of the Bonds will be used to: (1) finance or refinance the acquisition, construction, improvement and equipping of Lone Oak Senior Apartments II, a senior multifamily rental housing project located at 10528 Broken Oak Court, Penn Valley, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by Penn Valley Pacific Associates II, a California Limited Par...
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