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HEARING - Consider recommendations regarding California Enterprise Development Authority Financing of Tax-Exempt Obligations for the Benefit of The Turner Foundation - Since 1958, as follows: (EST. TIME: 5 MIN.)
a) Hold a public hearing in compliance with the Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982 regarding the California Enterprise Development Authority’s plan to issue tax-exempt obligations for the benefit of The Turner Foundation - Since 1958;
b) Adopt a Resolution approving the issuance by the California Enterprise Development Authority of its revenue obligations for the benefit of The Turner Foundation - Since 1958 in an aggregate amount not to exceed $18,000,000.00 for the purpose of financing and refinancing the cost of the acquisition, construction, rehabilitation, equipping and furnishing of certain property, providing the terms and conditions for such obligations and other matters relating thereto; and
c) Determine that the above actions involve government funding mechanisms and/or fiscal activities and are not a project under the California Environmental Quality Act (CEQA) pursuant to section 15378(b)(4) of the CEQA Guidelines.
COUNTY EXECUTIVE OFFICER’S RECOMMENDATION: APPROVE