The CMFA Issues $31,610,000 in Low Cost, Tax-Exempt Financing for Mt. San Antonio Gardens

The Corporation intends to use the proceeds of the Bonds, together with other available funds, to (i) finance the construction, improvement, renovation and equipping of the continuing care retirement community owned and operated by the Corporation (the “Project”); (ii) currently refund the Authority’s Senior Living Revenue Bonds (Mt. San Antonio Gardens Project), Series 2010 (the “Series 2010 Bonds”), $16,375,000 of which are currently outstanding; (iii) fund a debt service reserve fund for the benefit of the Bonds; (iv) pay a portion of the interest on the Bonds during the construction of the hereinafter described Project; and (v) pay certain of the costs of issuance of the Bonds. 

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