CITY OF COLUSA
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on April 4, 2023,, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the “Code”) will be held with respect to a proposed plan of financing providing for the issuance by the California Municipal Finance Authority (the “Authority”) of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of the Code in one or more series issued from time to time, including bonds issued to refund such exempt facility bonds in one or more series from time to time, in an amount not to exceed $15,000,000 (the “Bonds”). The proceeds of the Bonds will be used to: (1) finance or refinance the acquisition, construction, improvement and equipping of Rancho Colus, a multifamily rental housing project located at 1717 State Highway 20, Colusa, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by Rancho Colus LP (the “Borrower”) or a partnership of which Building Better Partnerships, Inc. (the “Developer”) or a related person to the Developer is the general partner.
The Bonds and the obligation to pay principal of and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of the Authority, the State of California or any political subdivision thereof, within the meaning of any constitutional or statutory debt limitation, or a charge against the general credit or taxing powers of any of them. The Bonds shall be a limited obligation of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Borrower.
The hearing will commence at 6:00 p.m. or as soon thereafter as the matter can be heard, and will be held in the City Hall – City Council Chambers, 425 Webster Street, Colusa, California. Interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the facilities proposed to be financed or refinanced may attend the public hearing or, prior to the time of the hearing, submit written comments.
Additional information concerning the above matter may be obtained from, and written comments should be addressed to, City Clerk, City of Colusa, 425 Webster Street, Colusa, California 95932.
03/09/2023 – CCPR # 2023-0165