The Board of Supervisors has approved a resolution for the issuance of up to $5,000,000 in tax-exempt revenue bonds by the California Enterprise Development Authority. These funds will be used by the Mission Economic Development Agency (MEDA) to refinance the costs associated with the acquisition and improvement of its administrative facilities at 2301 Mission Street. The facility is a 21,000-square-foot building that serves as MEDA's headquarters. The approval is for the purposes of Section 147(f) of the Internal Revenue Code, which requires public approval for private activity bonds to be tax-exempt. The City of San Francisco is not financially liable for these bonds; the repayment is the sole responsibility of the borrower, Mission Resource Center, LLC, whose sole member is MEDA.