AgdaPkt 2015-04-13 Closed and Joint SA and PFA REVISED 04_10_2015

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8.A. - Page 25 CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY (San Mateo County, California) Water Revenue Refunding Bonds, Series 2015 INTRODUCTION General The purpose of this Official Statement is to provide certain information concerning the issuance, sale and delivery by the City of Redwood City Public Financing Authority, a joint exercise of powers authority organized and existing under the laws of the State of California (the "Authority"), of its City of Redwood City Public Financing Authority (San Mateo County, California) Water Revenue Refunding Bonds, Series 2015 (the "Bonds"), in the aggregate principal amount of$ The Bonds are special obligations of the Authority payable from the revenues (the "Revenues") pledged under an indenture of trust, dated as of May 1, 2015 (the "Indenture"),by and between the Authority and U.S. Bank National Association, as trustee (the "Trustee"), consisting primarily of installment payments (the "2015 Installment Payments") to be made by the City of Redwood City (the "City") under an Installment Purchase Contract, dated as of May 1, 2015 (the "2015 Installment Purchase Contract"), by and between the Authority and the City, as the purchase price for certain improvements to the City's municipal water enterprise (the "Enterprise"). The 2015 Installment Payments are secured by a pledge of and lien on the net revenues of the Enterprise. Capitalized terms used, but not otherwise defined herein, shall have the meanings assigned thereto as set forth in APPENDIX D—SUMMARY OF PRINCIPAL LEGAL DOCUMENTS—Certain Definitions. The Authority The Authority is a California joint powers authority, formed for the purpose of implementing the construction, acquisition, maintenance and improvement of public facilities and infrastructure within the City. See "THE AUTHORITY." The City and the Enterprise The City is located in southern San Mateo County (the "County") and, through the Enterprise, supplies water to the City, unincorporated areas of the County, and portions of the City of San Carlos and the Town of Woodside. Operation and maintenance of the Enterprise is financed through the Water Enterprise Fund. The City is one of 28 wholesale customers (the "Wholesale Customers") in San Mateo, Santa Clara, and Alameda Counties that are members of the Bay Area Water Supply and Conservation Agency ("BAWSCA") which purchase water from the City and County of San Francisco Public Utilities Commission (the "SFPUC") which owns and operates a municipal water supply, storage and distribution system. The SFPUC water enterprise consists of over 280 miles of pipeline, over sixty miles of tunnels, eleven reservoirs, five pump stations, and two water treatment plants located outside of the City (the "Regional Water System") and over 1,250 miles of pipeline, twelve reservoirs, nine storage tanks, twelve pump stations, eight hydropneumatic stations and seventeen chlorination stations located inside the City and County of San Francisco. In 2009, the SFPUC and the Wholesale *Preliminary,subject to change.