By Orrick, Herrington & Sutcliffe LLP.
NOTICE IS HEREBY GIVEN that on Wednesday, August 18, 2021, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) will be held by the City Council of the City of South Pasadena (the “City”) with respect to the proposed issuance by the California Municipal Finance Authority (the “Authority”) of its revenue bonds, in one or more series from time to time pursuant to a plan of financing , in a maximum aggregate principal amount not to exceed $40,000,000 (the “Bonds”). Approximately $5,500,000 of the proceeds of the Bonds will be loaned by the Authority to the California Institute of the Arts, a nonprofit corporation, duly organized and existing under the laws of the State of California (the “Institute”) for the purposes of (A) financing the acquisition, construction, improvement, renovation and equipping of that property improved with a three story, approximately 4,470 square foot residence, located at 415 Oaklawn Avenue, South Pasadena, CA (sometimes referred to as the Cattern House) (the “Project”); and (B) paying certain costs of issuance of the Bonds. The facilities so financed will be used for educational purposes of the Institute, and will be owned and operated by, and used by, the Institute.
