R2021-207 Resolution Approving, for the Purpose of Section 147(f) of the Internal Revenue Code of 1986, the Issuance by the Public Finance Authority of One or More Series of Senior Living Revenue Bonds (QSH/Midwest Project) Not to Exceed $50,090,000

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City Council will vote whether or not to consent to the PFA's issuance of tax exempt bonds to finance the proposed project. The City of Decatur is in no way requested to contribute funds to the bond financing or otherwise assist in the bond financing project, other than conducting the hearing and providing the local approval. The PFA must wait until all local jurisdictions have conducted the TEFRA hearing and voted on whether to approve of the project. The current schedule anticipates that all local jurisdictions will complete their hearings and local approvals during the month of November. PFA would then proceed with its own approval, as required by Federal tax law, once the local jurisdictions have voted. POTENTIAL OBJECTIONS: Staff is not aware of objections. INPUT FROM OTHER SOURCES: STAFF REFERENCE: Wendy Morthland,Assistant Corporation Counsel, at 424-2807.