Adoption of a Resolution Approving the Issuance of Tax Exempt Bonds by the California Municipal Finance Authority for The Willows Community School to Finance and Refinance Educational Facilities. Item Number: PH 1 City of Culver City California Agenda Item Report Meeting Date: 07/02/12 CITY COUNCIL AGENDA ITEM: PUBLIC HEARING Adoption of a Resolution Approving the Issuance of Tax Exempt Bonds by the California Municipal Finance Authority for The Willows Community School to Finance and Refinance Educational Facilities. Contact Person/Dept.: Nick Kimball Senior Management Analyst Fiscal Impact: Yes X No Public Hearing: X Commission Action Required: Yes No X Date: _______________ Public Notification: (Email) Meetings and Agendas City Council (6/28/12); (Newspaper) Notice printed in Culver City News (6/14/12); (Email) The Willows Community School representatives (06/27/12). Department Approval: Jeff Muir (06/26/12) Chief Financial Officer Approval: Jeff Muir (06/26/12) City Attorney Approval: Carol Schwab (by H. Baker) (06/25/12) City Manager Approval: John M. Nachbar (06/27/12) General Fund: Yes X No Attachments: X Phone Number: 310 253 6013 Action Item: RECOMMENDATION: Staff recommends the 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 The Willows Community School to provide project financing. PROCEDURE: 1. The 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. The Mayor calls for a staff report and the City Council Members may pose questions to staff as desired; and 3. The Mayor seeks a motion to open the public hearing; and 4. The Mayor seeks motion to close the public hearing after all public testimony has been presente...
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