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<br /> conditions specified by and upon determination of CEDA.
<br /> CEDA hereby authorizes the Program Administrator, upon consultation with CEDA
<br /> general counsel, bond counsel and the Figtree PACE underwriter, to commence preparation of
<br /> documents and take necessary steps to prepare for the issuance of bonds, notes or other forms
<br /> of indebtedness as authorized by Chapter 29.
<br /> In connection with the issuance of bonds payable from contractual assessments, CEDA
<br /> expects to obligate itself, through a covenant with the owners of the bonds, to exercise its
<br /> foreclosure rights with respect to delinquent contractual assessme,- -__ stallments under
<br /> specified circumstances. =_
<br /> Section 6. Public Hearing. Pursuant to the Act, CEDA:=_eleby ord=., that a public
<br /> "Board"), ,
<br /> hearingbe held before CEDA Board (the Board at 550 Bercut Drr-..,„,:,w,j , D"G, Sacramento,
<br /> CA 95811, on , , at A_, or the purposesllowing interested
<br /> persons to object to, or inquire about, the proposed Fir PACE Progra: . Thep hearing
<br /> may be continued from time to time as determined by the 8:o-rd for a time norexc-e. ng a total
<br /> of 180 days. : : ,
<br /> >:.F
<br /> At the time of the hearing, the Repo 'oe_cribed r" z.-ection-o`4.prea ,all be
<br /> summarized, and the Board shall affor•-all perse�;sswho r presen p portunity to comment
<br /> upon, object to, or present evidence wt ,.e and t•t.e r'proposed Fi tre ACE Program, the
<br /> extent of the area proposed to be inclu©edrw. 't in the •o"ndaries of the assessment district, the
<br /> terms and conditions of the draft assess, of cp tract die cribed in Section 8 hereof(the
<br /> "Contract"), or the proposed.. i. ancing pro :Sion ollowi g he public hearing, CEDA may
<br /> adopt a resolution confirmiVI--= Report (the "Resp tion Co:firming Report") or may direct the
<br /> Report's modification in any repe:litor;may abandoon t-e proceedings.
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<br /> The Boar.;Sereby orders t,-e public-: `'o_s-•yL.y a notice of public hearing once a week for
<br /> , :i:: :
<br /> two successive wee s>fi< T-_.o publics iio s in a rie.g.spaper published once a week or more often,
<br /> with at least five da : inte.,:en g betwee :the respective publication dates not counting such
<br /> publicatio •ates are ss icient .e peno• o notice will commence upon the first day of
<br /> public* -and termin� at th.-?en< of a fourteenth day. The first publication shall occur not
<br /> later tic- 20 days before f; -oda a of the public hearing.
<br /> S--- ion, ` . of ce `o``-- ater and Electric Providers. Pursuant to Section 5898.24 of
<br /> the Streets'&' ig waysCode:}_:: ritten notice of the proposed contractual assessment program
<br /> within the City to all water;-=nd electric providers within the boundaries of the City has been
<br /> provided. -'V``
<br /> Section 8. Report. The Board hereby directs the Program Administrator to prepare the
<br /> Report and file said Report with the Board at or before the time of the public hearing described
<br /> in Section 6 hereof containing all of the following:
<br /> (a) A map showing the boundaries of the territory within which contractual
<br /> assessments are proposed to be offered, as set forth in Section 4 hereof.
<br /> (b) A draft contractual assessment contract (the "Contract") specifying the terms and
<br /> conditions of the agreement between CEDA and a property owner.
<br /> (c) A statement of CEDA's policies concerning contractual assessments including all
<br />ers participating in
<br /> the Figtree PACE Program, shall advance available surplus funds from its treasury to cure any
<br /> deficiency in the redemption fund to be created with respect to the indebtedness; provided,
<br /> however, that this determination shall not prevent CEDA or any of its members from, in their
<br /> sole discretion, so advancing funds. The Bonds may be refunded under Division 11.5 of the
<br /> California Streets and Highways Code or other applicable laws permitting refunding, upon the
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