NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN THAT A PUBLIC HEARING
WILL BE HELD BY THE CITY COUNCIL OF THE
CITY OF SAN CLEMENTE, CALIFORNIA,
RELATIVE TO THE FOLLOWING:
ISSUANCE OF EXEMPT FACILITY BONDS FOR A QUALIFIED RESIDENTIAL RENTAL PROJECT AT MENDOCINO AT TALEGA I, A MULTIFAMILY RENTAL HOUSING LOCATED AT 123 CALLE AMISTAD NOTICE IS HEREBY GIVEN that on May 21, 2024, 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 $25,000,000 in aggregate principal amount (the "Bonds"). The proceeds of the Bonds will be used to: (1) finance or refinance the acquisition, rehabilitation, improvement and equipping of Mendocino at Talega I, a multifamily rental housing project located at 123 Calle Amistad, San Clemente, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by Amistad Housing Partners I LP (the "Borrower") or a partnership of which Jamboree Housing Corporation (the "Developer") or a related person to the Developer is the general partner.
The Bonds and the obligation to pay principal of and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of 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.
Additional information concerning the above matter may be obtained from, and written comments should be addressed to Administrative Services Director at (949) 361-8200.
To allow staff adequate time to confirm software compatibility, individuals wishing to utilize electronic visual aids to supplement their oral presentations at the meeting, must submit the electronic files to the City Clerk by no later than 12:00 p.m. on the day of the meeting. Only compatible electronic formats will be permitted to be used on City audio/visual computer equipment. Staff makes no guarantee that such material will be compatible, but will use its best efforts to accommodate the request.
NOTICE IS FURTHER GIVEN that said Public Hearing will be held at the meeting of the City Council on May 21, 2024 at 6:00 p.m. in the City Council Chambers, located at 910 Calle Negocio, 2nd Floor, San Clemente. All interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the facilities proposed to be financed or refinanced may attend said public hearing, or submit written communication, to express their opinion for or against the public hearing item.
LAURA CAMPAGNOLO
City Clerk and Ex-Officio
Clerk of the Council
Attachment 2