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q.6 -23 <br />OFFICIAL STATEMENT <br />$13,500,000• <br />CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY <br />Lease Revenue Bonds <br />Series 2003 <br />This Official Statement (which includes the cover page and Appendices hereto) (the <br />"Official Statement ") provides certain information concerting the execution, sale and delivery <br />of the City of Redwood City Public Financing Authority Lease Revenue Bonds, Series 2003 (the <br />"Bonds'. <br />INTRODUCTION <br />This Introduction contains a brief summary of certain information contained in this <br />Official Statement. It is not intended to be complete and is qualified by the more detailed <br />information contained elsewhere in this Official Statement. Definitions of certain terms used in <br />this Official Statement are set forth in "APPENDIX A - Summary of Principal Legal <br />Documents". <br />Issuance of Bonds. The Bonds will be issued pursuant to an Indenture of Trust, dated <br />as of November 1, 2003 (the "Indenture"), by and between BNY Western Trust Company, as <br />trustee (the "Trustee "), and the City of Redwood City Public Financing Authority (the <br />"Authority"). The Bonds are being issued in denominations of $5,000 or any integral multiple <br />thereof. Interest will accrue on the Bonds at the applicable interest rate (as set forth on the <br />cover hereof) from their date of delivery (the "Closing Date ") until the respective date of <br />maturity or prior redemption, with interest becoming payable on each January 15 and July 15, <br />commencing July 15, 2004. The Bonds are subject to redemption as described herein. See "THE <br />BONDS - Redemption." <br />Use of Proceeds. The net proceeds of the sale of the Bonds will be used to provide <br />funds to (i) refund the Authority's remaining outstanding 1991 Local Agency Revenue Bonds, <br />Series A (the "1991 Bonds"), (ii) finance the acquisition and construction of certain <br />infrastructure improvements, (iii) establish a reserve fund for the Bonds, and (iv) pay certain <br />costs incurred in connection with execution and delivery of the Bonds. See "THE FINANCING <br />PLAN" and "THE PROJECTS." <br />' Pr:?hmmary, subject to change. <br />