Title
a. Conduct a public hearing under the requirements of the Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Consider adopting a resolution approving the issuance of California Enterprise Development Authority revenue obligations, in the aggregate principal amount not to exceed $6,000,000 for the purpose of the financing of various capital improvements of the Society for the Prevention of Cruelty to Animals for Monterey County, Inc. ("the SPCA").
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Conduct a public hearing under the requirements of the Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Consider adopting a resolution approving the issuance of California Enterprise Development Authority revenue obligations, in the aggregate principal amount not to exceed $6,000,000 for the purpose of the financing of various capital improvements of the Society for the Prevention of Cruelty to Animals for Monterey County, Inc. ("the SPCA").
SUMMARY:
The Society for the Prevention of Cruelty to Animals for Monterey County, Inc. ("the SPCA"), a California nonprofit public benefit corporation, requests that the California Enterprise Development Authority (the "Authority"), participate in the issuance of revenue obligations in an aggregate principal amount not to exceed $6,000,000 for the financing of various capital projects. The projects include the constructing, improving, rehabilitating, equipping, installing and furnishing of an approximately 2,900 square foot facility dedicated to animal care, an approximately 3,200 square foot facility including an animal training pavilion, staff offices, ADA compliant restrooms, an existing education center which will be remodeled, and related infrastructure and other related facilities located at 1002 Monterey-Salinas Highway 68, Monterey, California 93940.
The Authority requests ...
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