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Palmdale council holds TEFRA hearings and approves CMFA bond issuances for two housing projects
Summary
The council conducted TEFRA hearings and approved resolutions allowing the California Municipal Finance Authority to issue up to $20 million and up to $60 million in tax-exempt bonds for a 48-unit project and a 272-unit project respectively; staff emphasized the bonds are the borrower's responsibility and not city obligations.
The Palmdale City Council on Oct. 7 conducted required TEFRA public hearings and approved resolutions authorizing the California Municipal Finance Authority (CMFA) to issue tax-exempt revenue bonds for two separate residential projects.
For item 6.2 the council approved a resolution allowing CMFA to issue up to $20,000,000 to finance…
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