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Conduct a public hearing required by the Tax and Equity Fiscal Responsibility Act of 1982 (TEFRA) and consider adopting a resolution approving the issuance of revenue bonds by the California Municipal Finance Authority (CMFA), in an amount not to exceed $42,000,000 for the purpose of financing and/or refinancing certain costs of the acquisition, construction, expansion, remodeling, renovation, furnishing, equipping and/or improvement of the health facilities, including real estate, owned and operated by NorthBay Group and/or NorthBay Corporation, located within Solano County
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Published Notice Required? Yes _X__ No _ _
Public Hearing Required? Yes _X__ No _ _
DEPARTMENTAL RECOMMENDATION:
It is recommended that the Board of Supervisors Conduct a public hearing required by the Tax and Equity Fiscal Responsibility Act of 1982 (TEFRA) and consider adopting a resolution approving the issuance of revenue bonds by the California Municipal Finance Authority (CMFA), in an amount not to exceed $42,000,000 for the purpose of financing and/or refinancing certain costs of the acquisition, construction, expansion, remodeling, renovation, furnishing, equipping and/or improvement of the health facilities, including real estate, owned and operated by NorthBay Group and/or NorthBay Corporation, located within Solano County.
SUMMARY:
NorthBay Healthcare Group (NorthBay), for itself and NorthBay Healthcare Corporation (NorthBay Corporation), each of which is a nonprofit public benefit corporation duly organized and existing under the laws of the State of California and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code") (collectively, the "Borrower") seeks to provide for the financing and/or refinancing of $42,000,000 for the purpose of acquisition, construction, expansion, remodeling, renovation, furnishing, equipping and/or providing improvements of health facilities (Project). Adoption of the resolution...
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