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ublic Notice is hereby given that a public hearing will be held on Tuesday, February 8, 2011, at 10:00 a.m. local time, or as soon thereafter as the matter can be heard at the Board of Supervisors Chambers, located at County Administration Building, 651 Pine Street, Room 107, Martinez, California, regarding the proposed issuance by the ABAG Finance Authority for Nonprofit Corporations (the “Authority”) of its revenue bonds in one or more series in an amount not to exceed $120,000,000 (the “Bonds”). The proceeds of the Bonds will be loaned to Episcopal Senior Communities (the “Corporation”), a nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, and used, together with other available funds, to (a) refund ABAG Finance Authority for Nonprofit Corporations Refunding Revenue Certificates of Participation (Episcopal Homes Foundation), Series 1998 (the “Series 1998 COPs”) and, if deemed necessary or advisable by the Authority or the Corporation, ABAG Finance Authority for Nonprofit Corporations Variable Rate Certificates of Participation (Episcopal Homes Foundation), Series 2000 (the “Series 2000 COPs”), (b) finance or reimburse the cost of the acquisition, construction, expansion, remodeling, renovation, furnishing and equipping of continuing care facilities to be owned and operated by the Corporation in San Francisco, Santa Rosa, Oakland, Los Gatos, Pacific Grove, and Walnut Creek, California (the “Facilities”), (c) fund a debt service reserve fund, if deemed necessary or advisable by the Authority or the Corporation, (d) pay a portion of the interest on the Bonds, if deemed necessary or advisable by the Authority or the Corporation, (e) provide working capital to the Corporation, if deemed necessary or advisable by the Authority or the Corporation, and (f) pay certain costs of issuing the Bonds. Public approval by each local jurisdiction has been or will be obtained following a public notice and public hearing regarding the Bonds and the facilities financed in that city. In Contra Costa County, Bonds in an amount not to exceed $75 million will be used, together with other available funds, to finance the Walnut Creek Facility, a continuing care facility located at 1700 Tice Valley Boulevard, Walnut Creek, California 94595. The proceeds of the Series 1998 COPs were used to (a) refund California Health Facilities Authority Insured Revenue Bonds (Episcopal Homes Foundation Project), Series 1985A, Series 1985B, Series 1988A and Series 1988B (collectively, the “Series 1985 and 1988 Bonds”) and City of Santa Rosa, California Insured Revenue Bonds (Episcopal Homes Foundation), Series 1986 (the “Series 1986 Bonds”), (b) fund a debt service reserve fund, (c) pay a portion of interest on the Series 1998 COPs, and (d) pay certain costs of issuing the Series 1998 COPs. The Series 1985 and 1988 Bonds were issued to finance the acquisition, design, construction and equipping of the San Francisco Facility. The Series 1986 Bonds were issued to advance refund certain previously outstanding bonds of the City of Santa Rosa, California issued in 1984 to finance the Santa Rosa Facility. The proceeds of the Series 2000 COPs were used to (a) finance or reimburse the cost of the acquisition, construction, expansion, remodeling, renovation, furnishing and equipping of the Santa Rosa, Oakland, Los Gatos and Pacific Grove Facilities, (b) fund a debt service reserve fund, and (c) pay certain costs of issuing the Series 2000 COPs, including letter of credit fees. C:\DOCUME~1\DESTIN~1\LOCALS~1\Temp\BCL Technologies\easyPDF 7\@BCL@10132471\@BCL@10132471.DOC All property and facilities to be financed or refinanced with the proceeds of the Bonds has been or will be owned and operated by the Corporation. Interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the continuing care facilities proposed to be financed or refinanced may attend the public hearing or, prior to the time of the hearing, submit written comments. Subsequent to the public hearing, the members of the Board of Supervisors will meet to consider approval of the execution and delivery of the Bonds. Additional information concerning the above matter may be obtained from and written comments should be addressed to James Kennedy, Contra Costa County Department of Conservation and Development, 2530 Arnold Drive, Suite 190, Martinez, CA 94553. NOTICE DATED: Friday, January 21, 2011.