ATTACHMENT A
4927-2706-5149v5/200240-0019
RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MARIA, CALIFORNIA
APPROVING THE ISSUANCE OF REVENUE BONDS BY THE
CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN
AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $47,000,000
FOR THE REFINANCING OF CERTAIN OUTSTANDING
OBLIGATIONS AND FINANCING OF THE ACQUISITION, DESIGN,
AND CONSTRUCTION OF CERTAIN REAL PROPERTY LOCATED
IN THE CITY OF SANTA MARIA, TO BE UTILIZED BY COMMUNITY HEALTH CENTERS OF THE CENTRAL COAST, INC.,
AND CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, the California Municipal Finance Authority (the “Authority”) has informed the Council that the Authority is authorized to issue and sell revenue bonds for the purpose, among others, of financing or refinancing the acquisition, design, and construction of capital projects; and
WHEREAS, the Authority has informed the Council that Community Health Centers of the Central Coast, Inc., a California nonprofit public benefit corporation and an organization described in section 501(c)(3) of the Internal Revenue Cod e of 1986 (the “Corporation”), has requested that the Authority participate in the issuance of revenue bonds in an aggregate principal amount not to exceed $ 47,000,000 (the “Bonds”), of which:
1. Approximately $6,000,000 will be used to refinance a loan ( the “Loan”) made by Mechanics Bank to the Corporation in 2021, the proceeds of which were used to finance the acquisition of a 55,000 square foot building being located at 2100 S outh Blosser Road, Santa Maria, California, a portion of which building will be operated as a new PACE program facility providing health and mental health services to senior citizens (the “2100 S outh Blosser Building”); and
2. Approximately $14,000,000 will be used to renovate the 2100 S outh Blosser Building (the “2100 South Blosser Project”); and
3. Approximately $16,000,000 will be used to acquire and renovate an approximately 30,000 square foot building located at 1550 E ast Main Street, Santa Maria, California (the “1550 E ast Main Street Building”), which will be owned and operated by the Corporation as a medical clinic (primary care, dental, specialists response, and potentially behavioral care services) (the “1550 East Main Street Project”; and, together with the 2100 S outh Blosser Project, the “Project”); and
WHEREAS, Corporation will be the owner of the Project; and
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WHEREAS, The Corporation at its discretion may allocate up to the entire maximum principal amount of proceeds of the Bonds and/or Corporation equity to finance or refinance all, a part, or none, of each portion of the Project at the various locations; and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the “Code”), the issuance of the Bonds by the Authority must be approved by the “applicable elected representative” required to approve the issuance of Bonds under Section 147(f) of the Code; (collectively, the “Projects”); and
WHEREAS, the Projects are located within the territorial limits of the City; and WHEREAS, the Council is the elected legislative body of the City 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 Council approve the issuance of the Bonds by the Authority in order to satisfy the public approval requirement of section 147(f) of the Code an d the requirements of Section 4 of the Joint Exercise of Powers Agreement Relating to the California Municipal Finance Authority, dated as of January 1, 2004 (the “Agreement”), among certain local agencies, including the City; and WHEREAS, pursuant to sect ion 147(f) of the Code, the Council has, following notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires to approve the issuance of the Bonds by the Authority.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Santa Maria, California, as follows:
SECTION 1. The foregoing recitals are true and correct.
SECTION 2. The Council hereby approves, solely for the purposes stated in this resolution, the issuance of the Bonds by the Authority. It is the purpose and intent of the Council that this resolution constitutes approval of the issuance of the Bonds by the Authority, for the purposes of (a) section 147(f) of the Code by the applicable elected representative of the governmental unit having jurisdiction over the ar ea in which the Projects are located, in accordance with said section 147(f) and (b) Section 4 of the Agreement.
SECTION 3. The issuance of the Bonds shall be subject to the approval of the Authority of all financing documents relating thereto to which the Authority is a party. The City shall have no responsibility or liability whatsoever with respect to the Bonds.
SECTION 4. The adoption of this Resolution shall not obligate the City or any department thereof to (i) provide any refinancing of the Projects; (ii) approve any application or request for or take any other action in connection with any planning approval, permit or other action necessary for the acquisition, construction, rehabilitation or operation of the Projects; (iii) make any contribution or advance any funds whatsoever
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to the Authority; (iv) take any further action with respect to the Authority or its membership therein; or (v) make any investigations, representations, or disclosures in connection with the Bonds.
SECTION 5. The officers of the City, including by way of exam ple and not as a limitation, the Mayor, the City Manager, the Finance Director, and the City Clerk, 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 necessa ry 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. The City Clerk shall forward a certified copy of this Resolution and an originally executed Agreement to:
Vanessa S. Legbandt
Stradling Yocca Carlson & Rauth LLP
660 Newport Center Drive, Suite 1600
Newport Beach, CA 92660
and to
Ronald E. Lee, Esq.
Jones Hall, APLC
475 Sansome Street, Suite 1700
San Francisco, CA 94111
SECTION 7 . The Chief Deputy City Clerk is hereby authorized to make minor changes herein to address clerical errors, so long as substantial conformance of the intent of this document is maintained. In doing so, the Chief Deputy City Clerk shall consult with the City Manager and City Atto rney concerning any changes deemed necessary.
SECTION 8. This resolution shall take effect immediately upon its adoption.
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PASSED AND ADOPTED at a regular meeting of the City Council of the City of Santa Maria held this 1st day of July 2025.
ATTEST:
Chief Deputy City Clerk
Mayor
APPROVED AS TO FORM:
_______________________________
City Attorney
APPROVED AS TO CONTENT:
_______________________________
Department Director
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City Manager