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PUBLIC HEARING -10A <br />-ADEN HILLS <br />MEMORANDUM <br />DATE: September 8, 2025 <br />TO: Honorable Mayor and City Councilmembers <br />Jessica Jagoe, City Administrator <br />FROM: Joua Yang, Finance Director <br />SUBJECT: Public Hearing for Church of St. Odilia Request for Conduit Debt Financing <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />Council Should Consider <br />Holding a Public Hearing for the Church of St. Odilia Request for Conduit Debt Financing <br />Background <br />On Monday, August 25, 2025, the Council approved Resolution 2025-055 Giving Preliminary <br />Approval to the Issuance and Sale of Revenue Bonds or Other Obligations, and Approving a Deed <br />Application and Scheduling a Public Hearing for the Same. <br />The Church of St. Odilia has submitted an application to the City and has submitted a non- <br />refundable application fee in the amount of $500 according to the City's procedures for Private <br />Activity Revenue Bond Financing. The fees collected on this conduit debt issuance is estimated to <br />be $12,000. A representative from the Church of St. Odilia will be present to discuss this matter <br />further and answer any questions. <br />Following the public hearing, the Council will be asked to approve the attached resolution under <br />Agenda Item 11 A. <br />Budget Impact <br />There is no financial risk or budget impact to the City. <br />Attachments <br />Attachment A: August 25th City Council Memo <br />Attachment B: Resolution 2025-059 <br />Page IofI <br />