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Council approves TEFRA hearing for LTrudy 2 senior housing financing
5473805 · July 15, 2025
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Summary
Council held a TEFRA hearing and approved a resolution allowing up to $25 million in tax-exempt bond issuance to support the LTrudy 2 senior apartment project; the city bears no financial liability for the bonds.
The City Council held a TEFRA hearing July 15 and approved a resolution allowing the issuance of up to $25,000,000 in tax-exempt revenue bonds by the California Municipal Finance Authority to finance acquisition and construction of the LTrudy 2 senior apartment project.
Why it matters: The federal tax rules that govern tax-exempt bonds require a…
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