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“San
File #: TMP-2286    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 5/27/2025 In control: City Council
On agenda: 6/24/2025 Final action:
Title: RESOLUTION NO. 2025-9454 - APPROVING THE ISSUANCE OF REVENUE BONDS BY THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $30,000,000 FOR THE PURPOSE OF FINANCING CERTAIN EDUCATIONAL FACILITIES AND CERTAIN OTHER MATTERS RELATING THERETO FOR THE BENEFIT OF BAYPOINT PREPARATORY ACADEMY
Attachments: 1. Baypoint 2025 - TEFRA resolution (San Marcos) Final



MEETING DATE:
June 24, 2025


SUBJECT:
Title
RESOLUTION NO. 2025-9454 - APPROVING THE ISSUANCE OF REVENUE BONDS BY THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $30,000,000 FOR THE PURPOSE OF FINANCING CERTAIN EDUCATIONAL FACILITIES AND CERTAIN OTHER MATTERS RELATING THERETO FOR THE BENEFIT OF BAYPOINT PREPARATORY ACADEMY
Body
Recommendation:
Recommendation
ADOPT a Resolution approving the issuance of revenue bonds by the California Enterprise Development Authority in an aggregate principal amount not to exceed $30,000,000 for the purpose of financing certain educational facilities and certain other matters relating thereto for the benefit of Baypoint Preparatory Academy
Body
Board or Commission Action
Not applicable

Relevant Council Strategic Theme
Not applicable

Relevant Department Goal
Not applicable

Introduction:

California Enterprise Development Authority (the "Authority" or "CEDA") is a joint powers authority established by the California Association for Local Economic Development ("CALED") whose purpose is to issue tax-exempt and taxable conduit revenue bonds to fund commercial and industrial development projects within member jurisdictions. 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 CEDA as an associated member in April 2013 pursuant to Resolution No. 2013-7773.

Baypoint Preparatory Academy ("Borrower") is a California limited liability company, the sole member of which is Baypoint Preparatory Academy ("School"), a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended ("Code"...

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