File #: 12-118    Name:
Type: Minutes Status: Passed
File created: 2/7/2012 In control: Board of Supervisors
On agenda: 2/7/2012 Final action: 2/7/2012
Title: Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA) Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA)
Attachments: 1. Completed Board Order, 2. Signed Board Report, 3. Proof of Publication

 

 

 

 

 

 

 

 

COMPLETED BOARD ORDER"�|Eu                     �S-2

Before the Board of Supervisors in and for the

County of Monterey, State of California

Resolution No.: 12-034

a. Conduct a public hearing under the requirements of

Tax Equity and Financial Responsibility Act

TEFRA) and the Internal Revenue Code of 1986, as

amended; and

b. Adopt a resolution approving the issuance of up to

$13,300,000 in Private Activity Bonds by the

California Municipal Finance Authority CMFA) for

the benefit of MP Manzanita Associates, Limited

Partnership to provide for the financing of the

Project

Upon motion of Supervisor Armenta, seconded by Supervisor Salinas, and carried by

those members present, the Board of Supervisors hereby:

a. Conducted a public hearing under the requirements of Tax Equity and Financial

Responsibility Act TEFRA) and the Internal Revenue Code of 1986, as amended;

and

b. Adopted the attached Resolution No. 12-034 approving the issuance of up to

$13,300,000 in Private Activity Bonds by the California Municipal Finance Authority

CMFA) for the benefit of MP Manzanita Associates, Limited Partnership to provide

for the financing of the Project.

PASSED AND ADOPTED on this 7t' day of February, 2012, by the following vote, to-wit:

AYES: Supervisors Armenta, Supervisor Calcagno, Salinas, Potter and Parker

NOES: None

ABSENT: None

I, Gail T. Borkowski, Clerk of the Board of Supervisors of the County of Monterey, State of California,

hereby certify that the foregoing is a true copy of an original order of said Board of Supervisors duly made

and entered in the minutes thereof of Minute Book 76 for the meeting on February 7, 2012.

Dated: February 10, 2012 Gail T. Borkowski, Clerk of the Board of Supervisors

County of Monterey, State of California

By Q % a~i''lr(ii o,!X

 

 

BIB]

 

40962-U01

COMPLETED-U02

BOARD-U02

ORDER-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109940-U03

C15-U03

COMPLETED-U03

BOARD-U03

ORDER-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

COMPLETED BOARD ORDER"�|Eu                     �Before the Board of Supervisors in and for the

County of Monterey, State of California

RESOLUTION NO. 12-034

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF

MONTEREY APPROVING THE ISSUANCE OF TAX-EXEMPT BONDS BY

THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY FOR MP

MANZANITA ASSOCIATES, LP, OR ANOTHER LIMITED PARTNERSHIP TO

BE ESTABLISHED BY MIDPEN HOUSING CORPORATION OR AN

AFFILIATE THEREOF, WITH RESPECT TO A MULTIFAMILY RENTAL

PROJECT

WHEREAS, MP Manzanita Associates, LP, or another limited partnership to be

established by MidPen Housing Corporation or an affiliate thereof the Borrower")

intends to acquire and construct a 66 unit multifamily housing development the

Project") located at 17900 Kearny Street and 17500 Reynolds Street Assessor's Parcels

Numbers 031-164-089 and 031-164-092) in the County of Monterey, California 93933,

and has requested the California Municipal Finance Authority the Authority") to issue

tax-exempt bonds the Bonds") in the not-to-exceed amount of $13,300,000, the

proceeds of which shall be used for the purpose of financing the acquisition and

construction of the Project; and

WHEREAS, Section 147(f) of the Internal Revenue Code of 1986 the Code")

requires that the applicable elected representative" with respect to the Project to approve

the issuance of the Bonds with respect to the Project after a public hearing has been held

concerning the issuance and delivery of the Bonds with respect to the Project; and

WHEREAS, the Board of Supervisors of the County of Monterey the Board") is

the elected legislative body of the County of Monterey the County") and is one of the

applicable elected representatives required to approve the issuance of the Bonds under

Section 147(f) of the Code; and

WHEREAS, the Authority has requested that the Board approve the issuance of

the Bonds by the Authority in order to satisfy the public approval requirement of Section

147(f) of the Code and the requirements of Section 4 of the Joint Exercise of Powers

Agreement, dated as of January 1, 2004 the Agreement"), among certain local agencies,

including the County; and

WHEREAS, pursuant to Section 147(f) of the Code, the Board has, following

notice duly given, held a public hearing regarding the issuance of the Bonds at which all

those interested in speaking with respect to the financing of the Project were heard, and

now desires to approve the issuance of the Bonds by the Authority, as provided below;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF

SUPERVISORS OF THE COUNTY OF MONTEREY, AS FOLLOWS;

 

 

BIB]

 

40962-U01

COMPLETED-U02

BOARD-U02

ORDER-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109940-U03

C15-U03

COMPLETED-U03

BOARD-U03

ORDER-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

COMPLETED BOARD ORDER"�|Eu                     �Section 1. The Board hereby finds and determines that the foregoing recitals

are true and correct.

Section 2. The Board hereby approves the issuance of the Bonds with respect

to the Project by the Authority. It is the purpose and intent of the Board that this

resolution constitute approval of the issuance of the Bonds by the Authority only for the

purposes of i) Section 147(f) of the Code by the applicable elected representative of the

governmental unit having jurisdiction over the area in which the Project will be located,

in accordance with said Section 147(f), and ii) Section 4 of the Agreement.

Section 3. The issuance and delivery of the Bonds shall be subject to the

approval of and execution by the Authority of all financing documents relating thereto to

which the Authority is a party and subject to the sale of the Bonds by the Authority.

Section 4. The payment of the principal, prepayment premium, if any, and

purchase price of and interest on the Bonds shall be solely the responsibility of Borrower.

The Bonds shall not constitute a debt or obligation of the County.

Section 5. The officers of the County are hereby authorized and directed, jointly

and severally, to do any and all things and to execute and deliver any and all documents

which they deem necessary or advisable in order to carry out, give effect to and comply

with the terms and intent of this resolution and the financing transaction approved

hereby.

Section 6. This Resolution shall take effect from and after the date of its

passage and adoption.

PASSED AND ADOPTED this 7th day of February, 2012, upon motion of Supervisor

Armenta, seconded by Supervisor Salinas, and carried by the following vote, to wit:

AYES: Supervisors Armenta, Supervisor Calcagno, Salinas, Potter and Parker

NOES: None

ABSENT: None

Um,,, Ppbba,

Chair of the Board of Supervisors

ATTEST:

GAIL T. BORKOWSKI

Clfkaf the Board

 

 

BIB]

 

40962-U01

COMPLETED-U02

BOARD-U02

ORDER-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109940-U03

C15-U03

COMPLETED-U03

BOARD-U03

ORDER-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

 

 

SIGNED BOARD REPORT"�|Eu

�MONTEREY COUNTY BOARD OF SUPERVISORS

MEETING: February 7, 2012  1:30 pm AGENDA NO.: S- oZ

SUBJECT a. Conduct a public hearing under the requirements of Tax Equity and Financial

Responsibility Act TEFRA) and the Internal Revenue Code of 1986, as

amended; and,

b. Adopt a resolution approving the issuance of up to $13,300,000 in Private

Activity Bonds by the California Municipal Finance Authority CMFA) for the

benefit of MP Manzanita Associates, Limited Partnership to provide for the

financing of the Project.

DEPARTMENT: Auditor-Controller's Office

RECOMMENDATION:

It is recommended the Board of Supervisors:

a. Conduct a public hearing under the requirements of Tax Equity and Financial

Responsibility Act TEFRA) and the Internal Revenue Code of 1986, as amended; and,

b. Adopt the attached resolution approving the issuance of up to $13,300,000 in Private

Activity Bonds by the California Municipal Finance Authority CMFA) for the benefit of

MP Manzanita Associates, Limited Partnership to provide for the financing of the

Project.

SUMMARY:

MP Manzanita Associates, LP is working with the California Municipal Finance Authority to

issue up to $13,300,000 Thirteen Million Three Hundred Thousand Dollars) in tax-exempt

revenue bonds to help finance the construction of 66-affordable apartments. The recommended

actions are required before the CMFA can proceed with an application to the California Debt

Limit Allocation Committee CDLAC). Because TEFRA hearings are only valid for 1 year, this

action duplicates action taken by this Board on February 15, 2011.

DISCUSSION:

MP Manzanita Associates, LP, intends to construct a multifamily rental housing development

totaling 66 units to be located at 17900 Kearny Street and 17500 Reynolds Street Assessor's

Parcels Numbers 031-164-089 and 031-164-092) in the County of Monterey, California 93933.

The owner of the Project is MP Manzanita Associates, L.P.

In order for the CMFA to request an allocation of tax-exempt bonds from CDLAC and for the

bonds to ultimately qualify for tax-exempt status under the Internal Revenue Code, the local

government agency having jurisdiction over the area in which the project is located must hold a

properly noticed public hearing pursuant to TEFRA 26 U.S.C 147 f)) and adopt a resolution

approving sale of the private activity bonds.

The County of Monterey is a member of the CMFA. The Joint Exercise of Powers Agreement

provides that the CMFA is a public entity, separate and apart from each member executing such

agreement. The debts, liabilities and obligations of the CMFA do not constitute debts, liabilities

or obligations of the members executing such agreement.

 

 

BIB]

 

40962-U01

SIGNED-U02

BOARD-U02

REPORT-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109941-U03

C10-U03

BOARD-U03

REPORTS-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

SIGNED BOARD REPORT"�|Eu

�The Bonds to be issued by the CMFA for the Project will be the sole responsibility of the

Borrower, and the County will have no financial, legal, moral obligation, liability or

responsibility for the Project or the repayment of the Bonds for the financing of the Project. All

financing documents with respect to the issuance of the Bonds will contain clear disclaimers that

the Bonds are not obligations of the County or the State of California but are to be paid for solely

from funds provided by the Borrower.

OTHER AGENCY INVOLVEMENT:

RMA  Housing and Redevelopment Office, County Counsel, and the County Administrative

Office have reviewed this request and concur with the recommendations.

FINANCING:

The staff cost of processing this request has been financed by Fund 001, Budget Unit 1110

Auditor-Controller). If the bonds are issued, a portion of the issuance fees estimated to total

$7,500 will be deposited in Fund 001.

Approved by:

Ron Holly Michael J. it r, CISA, CPA

Y

Auditor-Controller

Chief Deputy Auditor Controller

U

Attachments: Resolution

Copy of Notice

 

 

BIB]

 

40962-U01

SIGNED-U02

BOARD-U02

REPORT-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109941-U03

C10-U03

BOARD-U03

REPORTS-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

 

 

PROOF OF PUBLICATION"�|Eu�NOTICE OF PUBLIC

HEARING

NOTICE IS HEREBY

GIVEN that the

Board of Supervi-

sors of the County

of Monterey the

County"), at its

regular meeting on

Tuesday. February

7, 2012, will hold a

public hearing and

consider approval

of the issuance by

the California Mu-

nicipal Finance Au-

thority the Au-

thority") of multi-

family housing rev-

enue bonds the

Bonds") in a prin-

cipal amount not to

exceed $13,300,000

to assist in the fi-

nancing of the ac-

quisition and con-

struction of a 66

unit multifamily

housing develop-

ment the Projec-

t") located at 17900

Kearny Street and

17500 Reynolds

Street Assessor's

Parcels Numbers

031-164-089 and

031-164-092) in the

County of Monte-

rey California

93933, and to be oc-

cupied, in part or in

whole, by persons

and families of very

lows low or moder-

ate income.

The owner of the

Project is expected

to be MP Manzanita

Associates, LP, or

another limited

partnership to be

established by

MidPen Housing

Corporation or an

ailiate thereof

TT Borrower").

The Bonds may be

issued in one or

more series from

time to time and

shall include bonds

issued to refund the

original issue or is-

sues of Bonds in

one or more series

from time to time,

provided that at no

time shall the total

amount of Bonds

outstanding exceed

the amounts set

forth above.

The Bonds will not

constitute an in-

debtedness or obli�

gation, or a pledge

of the faith and

credit of, the Coun-

ty_ The Bonds will

be special, limited

obligations of the

Authority, payable

solely from the rev-

enues of the Project

and by other funds

pledged by the Bor-

rower.

All those interested

in matters related

to the issuance of

the Bonds and the

financing of the ac-

quisition and con-

struction of the

Project are invited

to attend and be

heard at the meet-

ing which will com-

mence at 10:30 a.m.

and will be held in

the Board Cham-

bers at 168 West

Alisal Street, Sali-

nas, California

93901. If you have

any questions re-

arcing the public

hearing, please

contact Ron Holly.

Chief Deputy

Auditor-Controller, o at 831) 755.5493 rey

B  GAIL T.

BORKOWSKI

Clerk of the Board

1/18/12

CNS-2237896#

MONTEREY COUNTY

HERALD

 

 

BIB]

 

40962-U01

PROOF-U02

OF-U02

PUBLICATION-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109942-U03

C1-U03

GENERAL-U03

DOCUMENTS-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012

 

 

PROOF OF PUBLICATION"�|Eu�Monterey County

Th it pin,

www.montereyherald.com

A Media News Group Newspaper

PO BOX 271  MONTEREY, CALIFORNIA 93942-0271

831-646-4387

Fax: 831-372-4225

Email: mhlegals@montereyherald.com

CALIFORNIA NEWSPAPER SERVICE BUREAU

Account No. 2140303

PO BOX 60460

LOS ANGELES, CA 90060

Legal No. 0004292954

CNS-2237896#

Ordered by: curtis_small@dailyjourna

PROOF OF PUBLICATION

STATE OF CALIFORNIA

County of Monterey

I am a citizen of the United States and a resident of the

County aforesaid. I am over the age of eighteen years, and

not a party to or interested in the above-entitled matter. I

am the principal clerk of the printer of The Herald, a

newspaper of general circulation, printed and published daily

and Sunday in the City of Monterey, County of Monterey.

and which newspaper has been adjudged a newspaper of

general circulation by the Superior Court of the County of

Monterey, State of California: that the notice, of which the

annexed is a printed copy set in type not smaller than 7

point), has been published in each regular and entire issue

of said newspaper and not in any supplement thereof on the

following dates, to wit:

01/18/12

I certify or declare), under penalty of perjury. that the

foregoing is true and correct

Executed on 01/18/2012 at Monterey, California.

Signature

7

p0 0 a0 0 2 uaw9 8

This space is reserved for the County Clerk's Filing Stamp

 

 

BIB]

 

40962-U01

PROOF-U02

OF-U02

PUBLICATION-U02

LI21329-U03

FO96183-U03

FO107762-U03

FO107838-U03

MG107839-U03

AS107858-U03

AS107859-U03

AI108879-U03

DO109942-U03

C1-U03

GENERAL-U03

DOCUMENTS-U03

2/23/2012-U04

MARCELLAC-U04

17662-U05

2-U06

CONDUCT-U07

A-U07

PUBLIC-U07

HEARING-U07

UNDER-U07

THE-U07

REQUIREMENTS-U07

OF-U07

TAX-U07

EQUITY-U07

FINANCIAL-U07

RESPONSIBILITY-U07

ACT-U07

TEFRA)-U07

111-AUDITOR-U08

PAPURELLO-U09

MARIA-U09

PAPURELLOM-U10

1/13/2012-U011

THE-U012

INTERNAL-U012

REVENUE-U012

CODE-U012

OF-U012

1986,-U012

AS-U012

AMENDED;-U012

AND,-U012

B.-U012

ADOPT-U012

RESOLUTION-U012

APPROVING-U012

THE-U012

ISSUANCE-U012

OF-U012

UP-U012

TO-U012

$13,300,000-U012

IN-U012

PRIVATE-U012

ACTIVITY-U012

BONDS-U012

BY-U012

THE-U012

CALIFORNIA-U012

MUNICIPAL-U012

FINANCE-U012

AUTHORITY-U012

CMFA)-U012

THE-U012

BENEFIT-U012

OF-U012

MP-U012

MANZANITA-U012

ASSOCIATES,-U012

LIMITED-U012

PARTNERSHIP-U012

TO-U012

PROVIDE-U012

THE-U012

FINANCING-U012

OF-U012

THE-U012

PROJECT.-U012