City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
201142
Name:
Execution of Tax-Exempt Loan - California Municipal
Finance Authority - Pacific Primary School - Not to
Exceed $3,700,000
Status:
Type:
Resolution
Passed
File created:
In control:
9/29/2020
Clerk of the Board
On agenda:
Final action:
11/6/2020
Enactment date:
11/6/2020
515-20
Enactment #:
Title:
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).
Sponsors:
Dean Preston
Attachments:
1. Leg Ver1, 2. Notice of Public Hrg, 3. Affidavit of Pub 091420, 4. CON Ltr 092820, 5. Comm Pkt
102120, 6. Board Pkt 102720, 7. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
9/29/2020
1
RECOMMENDED
Budget and Finance Committee
10/21/2020
1
Pass
ADOPTED
Board of Supervisors
10/27/2020
1
Pass
APPROVED
Mayor
11/6/2020
1