MEETING DATE:
November 10, 2026
SUBJECT:
Title
RESOLUTION NO. 2026-9681 - APPROVING THE ISSUANCE OF REVENUE BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY FOR THE BENEFIT OF NORTH COUNTY HEALTH PROJECT INCORPORATED LOCATED IN THE CITY OF SAN MARCOS IN AN AGGREGATE AMOUNT NOT TO EXCEED $11,000,000 FOR THE PURPOSE OF FINANCING AND REFINANCING THE ACQUISITION, CONSTRUCTION, INSTALLATION, EQUIPPING OR FURNISHING OF CERTAIN HEALTH FACILITIES IN THE CITY OF SAN MARCOS AND CERTAIN OTHER MATTERS RELATING THERETO
Body
Recommendation:
Recommendation
ADOPT a resolution approving the issuance of California Municipal Finance Authority revenue bonds in an aggregate amount not to exceed $11,000,000 to finance improvements and renovations to certain healthcare facilities, including expanded clinical and administrative space and enhanced healthcare services.
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Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Not applicable
Relevant Department Goal
Not applicable
Introduction:
The California Municipal Finance Authority (the “Authority” or “CMFA”) is a joint powers authority whose mission is to support economic development, job creation and social programs throughout the State of California while giving back to California communities. Federal and state laws provide the ability for cities and counties to join together under cooperative agreements to form joint powers authorities to issue tax-exempt and taxable bonds to fund projects that provide a public benefit and serve the needs of residents within the jurisdictions of the participating members. The City of San Marcos (the “City”) joined CMFA as a Member on October 24, 2017 pursuant to Resolution No. 2017-8408.
North County Health Project Incorporated dba TrueCare is a nonprofit 501(c)(3) organization headquartered in San Marcos, California. Founded in 1971, TrueCare provides comprehensive healthcare services to underserved communities throughout San Diego and Riversi...
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