NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on October 20, 2026, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations promulgated thereunder, will be held by the City of Riverside (the “City”) with respect to the proposed issuance, by the California Municipal Finance Authority (the “Authority”), of its revenue bonds to be issued as Qualified 501(c)(3) Bonds, as defined in Section 145 of the Code, in one or more federally tax-exempt and/or taxable series pursuant to a plan of financing in a maximum aggregate principal amount of $45,000,000 (the “Bonds”), the proceeds of which will be loaned to California Baptist University (the “Borrower”), a California nonprofit corporation and an organization described in Section 501(c)(3) of the Code for financing, refinancing, and/or reimbursing costs of the Project (defined below).
The Public Hearing will be held by the City Council on the following date:
DATE: October 20, 2026
TIME: 3:00 p.m.
LOCATION: Art Pick Council Chamber, 3900 Main Street, Riverside, CA 92522 View live Webcast at www.RiversideCa.gov/Meeting
To listen to the public hearing live and provide comment by phone, call (951)826-8686, and follow the prompts to access your language of preference at 3:00 p.m.
The Borrower will use the proceeds of the Bonds to finance, refinance, and/or reimburse the Borrower for, all or a portion of: (1) costs of construction, renovation, acquisition, and equipping of educational facilities and other improvements located at 8432 Magnolia Avenue, Riverside, California 92504 and 3532 Monroe Street, Riverside, California, 92504 (the “Project”); (2) interest on the Bonds; (3) credit enhancement, bond insurance and liquidity costs, if any; (4) funding one or more debt service reserve funds, if any, for the Bonds; and (5) issuance costs of the Bonds.
All facilities of the Project described above are part of an integrated operation of the Borrower.
The Project is or will be owned and operated by the Borrower. The Project is or will be located within the territorial limits of the City. The public hearing described herein is being conducted within the City to comply with the public approval requirements of Section 147(f) of the Code applicable to the Bonds and the financing of the Project.
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, the Authority, the State of California (“State”) 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.
None of the City, the Authority and its members, the State, any other political corporation, subdivision or agency of the State, and any official or officer of any of the foregoing, shall have any responsibility or liability whatsoever with respect to the Bonds or the Project.
Interested persons wishing to express their views on the proposed plan of finance or on the nature and location of the facilities proposed to be financed may appear in person in the Art Pick Council Chamber at 3900 Main Street, Riverside, California, 92522, during the public hearing. Public comments are limited to three minutes per person. Persons unable to attend the hearing may send written comments to: City Clerk, City of Riverside, 3900 Main Street, Riverside, CA 92522, prior to October 20, 2026, or email [email protected]. Comments via the eComment feature at www.RiversideCA.gov/Meeting may be submitted until 11:00 a.m. on October 20, 2026. For questions relating to the proceeds, or any particulars, please contact the City Clerk’s Office at [email protected] or City Clerk, City of Riverside, 3900 Main Street, Riverside, CA 92522.
If you challenge any of the above proposed actions in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Clerk of the City of Riverside at, or prior to, the public hearing.
Donesia Gause, MMC
City Clerk of the City of Riverside
Dated and published: October 12, 2026