Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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OFFICIAL NOTICE OF SALE 518,955,000* CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY WATER REVENUE REFUNDING BONDS, SERIES 2015 NOTICE IS HEREBY GIVEN that electronic bids oniy will be received by representatives of the City of Redwood City Public Financing Authority (the "Authority") for the purchase of $18,955,000' aggregate principal amount of the bonds of the Authority designated the "City of Redwood City Public Financing Authority Water Revenue Refunding Bonds, Series 2015" (the .'Bonds"). The Bonds will be issued pursuant to the provisions of Article 4 (commencing with section 6584) of Chapter 5 of Division 7 of Title 1 of the California Government Code (the °Law"), an indenture of trust, dated as of May 1, 2015 (the "Indenture"), between the Authority and U.S. Bank National Association, as trustee (the "Trustee"), and a resolution of the Authority adopted on April 13,2015. DATE AND TIME: THURSDAY,APRIL 30,2015, until 8:30 A.M. (Pacific Daylight time). Bidders are referred ta the preliminary official statement of the Authority with respect to the Bonds (the "Preliminary Official StatemenY) for additional information regarding the Bonds and the securiry therefor, and other matters. See "TERMS OF-SALE—Official Statement" below. This Official Notice of Sale will be submitted to Ipreo for posting on its i-deal Prospectus website (www.i-dealprospectus.com) and on its Ipreo's I-Deal LLC BIDCOMP/PARITYO ("Parity") bid delivery system. If any summary of the terms of the sale of the Bonds posted by Ipreo or Parity conflicts with this Official Notice of Sale in any respect, the terms of this O�cial Notice of Sale shall control, unless a notice of an amendment is given as descxibed herein. For further information about Parity, potential bidders may contact: William Euphrat Municipal Finance, Inc., 3100 Clay St., San Francisco, CA 94115-1626, telephone (415)929-1564, email weuphrat@WEMuniFinance.com, attention William Euphrat (the "Municipal Adviso�'), or Pariry at(212}849-5021. PURPOSE: The Bonds are being issued to(a)refinance the acquisition and construction of certain improvements and facilities which constitute part of the Ciry of Redwood Ciry's (the "City") municipal water enterprise (the "Enterprise") and, in particular, to provide for the refunding of the City's obligations with respect to the Authority's Water Revenue Bonds, Series 2006A, in the original principal amount of $26,000,000, of which $20,705,000 remains outstanding (the "Refunded Bonds"); (b) initially fund a reserve fund for the Bonds; and (c) pay the costs of issuing the Bonds. SECURITY: The Bonds are secured by Revenues as defined in the Indenture, primarily consisting of installment payments (the "Installment Payments") made by the City under an installment purchase contract, dated as of May 1, 2015 (the "Installment Purchase Contract°), between the Authority, as seller, and the City, as purchaser. The Installment Payments are 'Preliminary;subject to change.