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<br />$___________* <br />CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY <br />(San Mateo County, California) <br />Water Revenue Refunding Bonds, Series 2017 <br /> <br /> <br />INTRODUCTION <br /> <br />General <br /> <br />The purpose of this Official Statement is to provide certain information concerning the <br />issuance, sale and delivery by the City of Redwood City Public Financing Authority, a joint <br />exercise of powers authority organized and existing under the laws of the State of California <br />(the “Authority”), of its City of Redwood City Public Financing Authority (San Mateo County, <br />California) Water Revenue Refunding Bonds, Series 2017 (the “Bonds”), in the aggregate <br />principal amount of $___________.* <br /> <br />The Bonds are special obligations of the Authority payable from the revenues (the <br />“Revenues”) pledged under an indenture of trust, dated as of March 1, 2017 (the “Indenture”), <br />by and between the Authority and U.S. Bank National Association, as trustee (the “Trustee”), <br />consisting primarily of installment payments (the “2017 Installment Payments”) to be made by <br />the City of Redwood City (the “City”) under an Installment Purchase Contract, dated as of <br />March 1, 2017 (the “2017 Installment Purchase Contract”), by and between the Authority and <br />the City, as the purchase price for certain improvements to the City’s municipal water <br />enterprise (the “Enterprise”). The 2017 Installment Payments are secured by a pledge of and lien <br />on the net revenues of the Enterprise. <br /> <br />Capitalized terms used, but not otherwise defined herein, shall have the meanings <br />assigned thereto as set forth in APPENDIX D—SUMMARY OF PRINCIPAL LEGAL <br />DOCUMENTS—Certain Definitions. <br /> <br />The Authority <br /> <br />The Authority is a joint powers authority, formed under California law for the purpose <br />of implementing the construction, acquisition, maintenance and improvement of public <br />facilities and infrastructure within the City. See “THE AUTHORITY.” <br /> <br />The City and the Enterprise <br /> <br />The City is located in southern San Mateo County (the “County”) and, through the <br />Enterprise, supplies water to the City, unincorporated areas of the County, and portions of the <br />City of San Carlos and the Town of Woodside. Operation and maintenance of the Enterprise is <br />financed through the Water Enterprise Fund. The City is one of 27 wholesale customers (the <br />“Wholesale Customers”) in San Mateo, Santa Clara, and Alameda Counties that are members of <br />the Bay Area Water Supply and Conservation Agency (“BAWSCA”) which purchase water <br />from the City and County of San Francisco Public Utilities Commission (the “SFPUC”) which <br />owns and operates a municipal water supply, storage and distribution system. The SFPUC <br />water enterprise consists of over 389 miles of pipeline, over 74 miles of tunnels, 11 reservoirs, <br />five pump stations, and three water treatment plants located outside of the City and County of <br />San Francisco (the “Regional Water System”) and over 1,235 miles of pipeline, 11 reservoirs, <br />eight storage tanks, 24 pump stations, eight hydropneumatic stations and 17 chlorination <br /> <br />* Preliminary, subject to change. <br />8.C. - Page 26