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Title:
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Resolution approving, in accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended (Code), the execution of a tax-exempt loan or loans by the California Municipal Finance Authority (Authority) in one or more series pursuant to a plan of financing and in an aggregate principal amount not to exceed $3,700,000 (Authority Loan), the proceeds of which will be loaned by the Authority (Borrower Loan) to Pacific Primary School, a California nonprofit public benefit corporation and an organization described in, and exempt from tax under, Section 501(c)(3) of the Code (Borrower), to (i) prepay and refinance in full all of the outstanding principal amount of Association of Bay Area Governments (ABAG) Finance Authority for Nonprofit Corporations 2013 Tax-Exempt Loan (Pacific Primary), originally issued in the principal amount of $4,100,000 the proceeds of which were used to redeem in full all of the then outstanding principal amount of ABAG Finance Authority for Nonprofit Corporations Variable Rate Demand Revenue Bonds (Pacific Primary) Series 2008, originally issued in the principal amount of $4,550,000 the proceeds of which were used for the construction, acquisition, improvement, capital maintenance, equipment acquisition and other related capital expenditures at the Borrower’s facilities located at 1500 and 1501 Grove Street, San Francisco, California and (ii) pay certain expenses incurred in connection with the delivery of the Borrower Loan (collectively, the Project).
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