PUBLIC HEARING NOTICE
CITY COUNCIL
NOTICE IS HEREBY GIVEN that on Tuesday, November 19, 2024, the Pismo Beach City Council will hold a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 with respect to the proposed reissuance by the California Municipal Finance Authority (the “Authority”) of its revenue bonds in one or more series in an amount not to exceed $13,414,789 (the “Bonds”), including but not limited to revenue bonds reissued as part of a plan to (1) refinance the acquisition, development, construction and equipping of a 50-unit affordable multifamily rental housing facility, including units for low-income tenants (the “Project”), located at 855 North Fourth Street in the City of Pismo Beach, California (the “City”); and (2) pay certain expenses incurred in connection with the reissuance of the Bonds. The facilities are owned and operated by Pismo Terrace, L.P., a California limited partnership (the “Borrower”). The Bonds and the obligation to pay principal thereof and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of the City of Pismo Beach, the Authority, the State of California or any political subdivision thereof, within the meaning of any constitutional or statutory debt limitation, or a charge against the general credit or taxing powers of any of them.
The Bonds shall be a limited obligation of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Borrower.
The hearing will commence at 6:00 p.m. or as soon thereafter as the matter can be heard in the City Hall Council Chamber, 760 Mattie Road, Pismo Beach, CA 93449. Interested persons wishing to express their views on the reissuance of the Bonds or on the nature and location of the facilities proposed to be financed and refinanced may attend the City Council meeting or, prior to the City Council meeting, submit written comments by email to [email protected], or by mail or hand-delivery to City Clerk, City of Pismo Beach, 760 Mattie Road, Pismo Beach, CA 93449. Additional information concerning the above matter may be obtained from, and written comments should be addressed to, City Clerk, City of Pismo Beach, 760 Mattie Road, Pismo Beach, CA 93449.