PUBLIC HEARING Adoption of a Resolution Approving the Issuance of Tax Exempt Bonds by the California Municipal Finance Authority for Park Century School to Finance and Refinance Educational Facilities. Item Number: PH 2 City of Culver City California Agenda Item Report Meeting Date: 12/10/12 CITY COUNCIL AGENDA ITEM: PUBLIC HEARING Adoption of a Resolution Approving the Issuance of Tax Exempt Bonds by the California Municipal Finance Authority for Park Century School to Finance and Refinance Educational Facilities. Contact Person/Dept.: Nick Kimball Procurement & Financial Svcs Manager Fiscal Impact: Yes X No Public Hearing: X Commission Action Required: Yes No X Date: _______________ Public Notification: (Email) Meetings and Agendas City Council (12/07/12); (Newspaper) Notice printed in Culver City News (11/22/12); (Email) Park Century School representatives (12/05/12). Department Approval: Jeff Muir (12/03/12) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (12/05/12) City Attorney Approval: Carol A. Schwab (by H. Baker) (12/06/12) City Manager Approval: John M. Nachbar (12/07/12) General Fund: Yes X No Attachments: X Phone Number: 310 253 6013 Action Item: RECOMMENDATION: Staff recommends City Council conduct a public hearing under the requirements of the Tax and Equity Fiscal Responsibility Act and the Internal Revenue Code of 1986 as amended; and approve the issuance of bonds by the California Municipal Finance Authority for the benefit of Park Century School to provide project financing and refinancing. PROCEDURE: 1. Mayor seeks motion from the City Council to receive and file the affidavits of publication and posting of notices and correspondence received in response to the public hearing notices; and 2. Mayor calls for a staff report and the City Council Members may pose questions to staff as desired; and 3. Mayor seeks a motion to open the public hearing; and 4. Mayor seeks motion to close the public hearing after all public testimony has been pr...
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