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The Bonds and the obligation to pay principal of and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of the City, the Authority, the State of California or any political subdivision thereof, within the meaning of any constitutional or statutory debt limitation, or a charge against the general credit or taxing powers of any of them. The Bonds shall be a limited obligation of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Institute.
The hearing will commence at 7:30 p.m., local time, or as soon thereafter as the matter can be heard and will be held at the Council Chambers, City Hall at 1424 Mission Street, South Pasadena, CA 91030. Interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the Project proposed to be financed may attend the public hearing or, prior to the time of the hearing, submit written comments. The Public Hearing is intended to comply with the public approval requirements of Section 147(f) of the Code.
Inquiries concerning the Project may be directed to the California Institute of the Arts, 24700 McBean Parkway, Valencia, CA 91355, Telephone: (661) 255-1050, Attention: Senior Vice President & Chief Financial Officer. The Institute is an organization described in Section 501(c)(3) of the Code.
Those wishing to comment on the sale, execution and delivery of the Bonds or on the proposed nature and description of the Project and the financing of the Project with the proceeds of the Bonds may either appear in person at the time and place indicated above or submit written comments, which must be received prior to the Public Hearing, to the City, c/o City Clerk of the City of South Pasadena, 1414 Mission Street, South Pasadena, CA 91030 or to ccpubliccomment@southpasadenaca.gov. See the City Council Agenda website for additional information about participating remotely.
Date: August 6, 2021 CITY CLERK OF THE CITY OF SOUTH PASADENA
