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Subcommittee advances up to $10 million tax-exempt bonds for Children’s Day School
Summary
The Budget & Finance Subcommittee advanced a resolution to approve up to $10,000,000 in tax-exempt bonds issued by the California Municipal Finance Authority to finance capital facilities for the Children’s Day School; staff said the city bears no repayment responsibility. The item will go to the full Board on 06/08/2010.
The Budget & Finance Subcommittee on June 8 advanced a resolution allowing the California Municipal Finance Authority to issue tax-exempt bonds, not to exceed $10,000,000, to finance capital facilities owned or leased by the Children’s Day School.
Anthony Ababond of the Office of Public Finance told the committee the action is required under federal…
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