County of Fresno - File #: 23-0656

• File #: 23-0656
• On agenda: 6/20/2023
• Final action: 6/20/2023
• Enactment #: Resolution No. 23-232
• Recommended Action(s): 1. Conduct a public hearing under the Tax Equity and Fiscal Responsibility Act ("TEFRA") and the Internal Revenue Code of 1986, as amended (the "Code"), regarding the issuance of one or more series of revenue bonds (the "Bonds") for Family HealthCare Network (the "Borrowers"), a California nonprofit, public benefit corporation and organization described in section 501(c)(3) of the Internal Revenue Code of 1986, in an aggregate principal amount not to exceed $40,000,000 to finance the construction of an approximately 15,000 square foot health center at the corner of Frankwood Avenue and South Avenue and an approximately 15,000 square foot health center at 1806-1828 Whitson Street located in the City of Reedley and Selma in Fresno County. 2. Adopt the resolution approving the issuance of the Bonds by the California Municipal Financing Authority ("CMFA") for the benefit of the Borrowers which adoption is solely for the purposes of satisfying the requirements of TEFRA and the Code.

Date	Action By	Action	Result
6/20/2023	Board of Supervisors	Approved as Recommended	Pass

DATE: June 20, 2023

TO: Board of Supervisors

SUBMITTED BY: Paul Nerland, County Administrative Officer

SUBJECT: Financing for Family HealthCare Network (Not a County Liability)

RECOMMENDED ACTION(S):
TITLE
1. Conduct a public hearing under the Tax Equity and Fiscal Responsibility Act ("TEFRA") and the Internal Revenue Code of 1986, as amended (the "Code"), regarding the issuance of one or more series of revenue bonds (the "Bonds") for Family HealthCare Network (the "Borrowers"), a California nonprofit, public benefit corporation and organization described in section 501(c)(3) of the Internal Revenue Code of 1986, in an aggregate principal amount not to exceed $40,000,000 to finance the construction of an approximately 15,000 square foot health center at the corner of Frankwood Avenue and South Avenue and an approximately 15,000 square foot health center at 1806-1828 Whitson Street located in the City of Reedley and Selma in Fresno County.

2. Adopt the resolution approving the issuance of the Bonds by the California Municipal Financing Authority ("CMFA") for the benefit of the Borrowers which adoption is solely for the purposes of satisfying the requirements of TEFRA and the Code.

REPORT
The County has received a request from the CMFA and the Borrowers, each of which is a nonprofit public benefit corporation, to conduct a public hearing concerning the issuance by the CMFA of one or more series of revenue bonds in an amount not to exceed $40,000,000 (approximately $14,000,000 in Fresno County) to finance the construction of health centers owned and/or operated by the Borrowers. Exhibit "A" includes the letter requesting the hearing. The recommended actions are solely for the purposes of satisfying the requirements of TEFRA and the Code.

The Code requires that prior to the issuance of the Bonds by the CFMA, the applicable elected representatives of a qualifying governmental unit with jurisdiction over the area where the project is located must hold a noti...