AgdaPkt 2016-05-23 Closed, Joint SA and PFA

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7.B. - Page 4 an administrative fee annually, included in the special tax levy, in order to pay for all services necessary to administer the City's obligations with respect to the levy and collection of the special tax, the payment of debt service on the bonds, and preparation of required annual disclosure to the State and bond investors. The City's General Fund will bear no financial risk associated with this refunding. The fees and expenses of each member of the financing team will be contingent upon the successful closing of the refunding bond issue, and will be paid from the refunding bond proceeds. The City will charge the CFD a fee of $35,000 to process the refunding. There are minor out-of-pocket expenses associated with distribution of the official statement (estimated at less than $3,000) that would nevertheless be payable should an event prevent the marketing of the refunding bonds or the closing of the refunding bonds after printing and distribution of the official statement. The City would recover these and any other unreimbursed expenses from the administrative budget for the special tax levy for the CFD. ENVIRONMENTAL REVIEW This activity is not a project under CEQA as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct physical change or a reasonably foreseeable indirect physical change in the environment. 4%4 afrotop.id - STARLA JEROME-ROBINSON INTERIM FINANCE DIRECTOR MELISSA STEVENSON DIAZ CITY MANAGER ATTACHMENTS Attachment A Resolution Approving Sale of Bonds Attachment B Preliminary Refunding Analysis Attachment C Summary of Principal Legal Documents Being Approved RELATED DOCUMENTS IN CITY CLERK'S OFFICE 1. Fiscal Agent Agreement 2. Escrow Agreement 3. Bond Purchase Agreement 4. Continuing Disclosure Agreement 5. Amended Rate and Method of Apportionment of Special Taxes 6. Preliminary Official Statement (current as of April 2016, to be updated prior to June bond sale)