RECOMMENDATION(S):
ADOPT Resolution No. 2016/560:
1. Approving the issuance of Multifamily Housing Revenue Bonds (the "Bonds") by the California Municipal Finance Authority (CMFA) in an amount not to exceed $40,000,000 for the benefit of Monterey Pines Venture LP, a California limited partnership, or another partnership or other entity created by MRK Partners, or one or more affiliates thereof (the "Borrower"), to provide for the financing of the acquisition, rehabilitation, improvement and equipping of a 324-unit multifamily housing development generally known as Monterey Pines Apartments located at 680 37th Street in the City of Richmond. Such adoption is solely for the purposes of satisfying the requirements of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the Code and the California Government Code Section 6500 (and following).
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