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"q.A -12
<br />41628 -01
<br />ATTACHMENT IV DR -SM-1dw
<br />7/24/03
<br />8/15/03
<br />8/20/03
<br />8/29/03
<br />PRELMNARY OFFICIAL STAT R.MENT DATED 2003
<br />NEW ISSUE RATINGS: S&P: _
<br />BOOK -ENTRY ONLY MOWS _ Insured: see "RATINGS" herein)
<br />In the opinion ofNaasamm, Guthner, Kno r & EWm LLP, Irvine, California Bond Counsel, based on existing statutes, regulations,
<br />rulings and court decisions and assuming, among othermattas. compliance with certain covenants, Interest on the Bonds is excluded
<br />from grass income for federal Income ax purposes. Interest on the Bonds Is not a specific preference Item for purposes of the federal
<br />Individual or corporate alternative minimum ratable Income, although Bond Counsel observes that It Is Included In adjusted currant
<br />earnings In calculating corporate alternative minimum triable Income. In the father opinion of Bond Counsel, interest on the Borrds Is,
<br />underetisding law. etemptfrom State of CaBfom lapersoralhicome axes. See - TAXMA7TERS - larem.
<br />S '
<br />REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY
<br />Redevelopment Project Area No. 2
<br />Tax Allocation Bonds, Series 2003A
<br />Dated: Date of Delivery Due: July 15, as shown below
<br />The Redevelopment Agency of the City of Redwood City (the 'Agency) is lssuhtg its S *principal amount of
<br />Redevelopment Agency of the City of Redwood City Redevelopment Project Area No. 2 Tex Allocation Bonds. Series 2003A ( the
<br />'Bonds'). Proceeds of the Bonds will be used to G) repay certain loans made by the City of Redwood City (the 'City) to the Agency, (it)
<br />pay the costs of redevelopment activities within the Agency's Redevelopment Project Area No. 2 (the 'Project Area'). (Ill) fund a
<br />reserve fund for the Bonds, (iv) fund capitalized interest on the Bonds, and (v) pay costs of Issuance relating to the Bonds.
<br />The Bonds will be Issued as current interest bonds (the 'Current Interest Bonds') and capital appreciation bonds (the "Capital
<br />Appreciation Bonds'). The Bonds will be delivered w fully registered bonds, registered in the name of Cede & Co. as nominee of The
<br />Depository Trust Company, New York New York ( "DTC'), and will be available to ultimate purchasers (BeraRcfal Owners') in the
<br />denomination of $5,000 or any integral multiple thereof, under the book -entry system maintained by DTC.
<br />The principal of (or Accreted Value), premium if army, and semiannual interest on the Bonds will be payable by U.S. Bank National
<br />Association. as Trustee (the "Trustee'), San Francisco, California, to DTC for subsequent disbursement to DTC participants, so long u
<br />DTC or its nominee remains the registered owner of the Bonds. Interest on the Current Interest Bonds is payable on January 15 and July
<br />15 of each year, commencing January 15, 2004. The Capital Appreciation Bonds accrete interest from their date of delivery,
<br />compounded semiannually on January 15 and July 15 of each year, commencing January 15, 2004.
<br />The Current Interest Bonds are subject to optional redemption and mandatory redemption as further described herein. See "THE
<br />BONDS - Redemption Provisions." The Capital Appreciation Bonds are not subject to redemption prior to maturity.
<br />The Bonds are payable on a parity with certain other obligations of the Agency as described herein, from Tax Revenues (as defined
<br />herein) to be derived from the Project Area and from amounts on deposit In certain funds and accounts established for the Bonds. See
<br />'SECURITY FOR THE BONDS.' The receipt of Tax Revenues is subject to certain risks and limitations. See "BOND OWNERS' RISKS'
<br />and "LIMITATIONS ON TAX REVENUES' herein. The Agency has previously Issued $15,430,000 Redevelopment Project Area No. 2
<br />Tan Allocation Refunding Bonds. Series 1997, currently outstanding In the aggregate principal amount of f 10,000,000 that have a parity
<br />churn on Tax Revenues generated in the Project Area
<br />Pavment of the principal of (or Accreted Value) and interest on the Bonds when due will be insured by a municipal bond
<br />insurance policy to he issued by slmuluneously with the delivery of the Bonds
<br />[Insurer's logo]
<br />THE BONDS ARE NOT A DEBT OF THE CITY OF REDWOOD CITY, THE STATE OF CALIFORNIk OR ANY OF ITS POLITICAL
<br />SUBDIVISIONS OTHER THAN THE AGENCY. AND NEITHER THE CITY, THE STATE NOR ANY OF ITS POLITICAL
<br />SUBDIVISIONS OTHER THAN THE AGENCY IS LIABLE THEREPOR THE PRINCIPAL OF (OR ACCRETED VALUE), PREMIUM, IF
<br />ANY", AND 111TTEREST ON THE BONDS ARE PAYABLE SOLELY FROM TAX REVENUES ALLOCATED TO THE AGENCY FROM
<br />THE PROJECT AREA AND AMOUNTS IN CERTAIN FUNDS AND ACCOUNTS HELD UNDER THE INDENTURE THE BONDS DO
<br />NOT CONSTITUTE AN usuGOrcue +ray WITHIN THE MEANING OF ANY CONSITTUITONAL OR STATUTORY DEBT
<br />LIMITATION OR RESTRICTION. NErrHM THE MEMBERS OF THE AGENCY OR THE CITY, NOR ANY PERSONS E)MCUTING
<br />THE BONDS. ARE LIABLE PERSONALLY ON THE BONDS BY REASON OF THOR ISSUANCE
<br />Thus cover page contents certain information for quick reference only. It Is not intended to be a summary of all factors relating to an
<br />investment to the Bonds. Investors should review the entire Official Statement before making any Investment decision
<br />Iu V4 it x19 0Vcfe) , I a 6161
<br />' Prebtunary, subject to change.
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