|
8.B. - Page 15
<br /> � N rit�,LIMINARY OFFICIAL STATEMENT DATED JANUARY_,2013
<br /> w �
<br /> �� NEW ISSUE-BOOK ENTRY ONLY NO RATING
<br /> ��, a°, In the apinion of Nossaman LLP, Irvine, Califarnia, Bond Counsel, �ased on existing statutes, regulations, rulings and court
<br /> w� decisions and assuming, among other matters, compliance with certain covenants, interest on the Bonds is excluda�le from gross
<br /> ° � income far federal income tax purposes, and is not a specific preference item for purposes of the federal individual or corporate
<br /> `s � alternative minimum taxes, although Bond Counsel o�serves that it is included in adjusted current earnings in calculating corporate
<br /> �� alternative minimum taxa�le income.In the further apinion of Bond Counsel,interest on the Bands is,under existing law,exempt from
<br /> � �' State of California personal income taxes.Bond Counsel e.�presses no apinion regarding other federal or State tax consequences relating
<br /> a��i w to the oz�niership or disposition of,or the accrual or receipt of interest on,the Bonds. See "TAX MATTERS"herein.
<br /> �� $10,985,000*
<br /> �� �. CITY OF REDWOOD CITY
<br /> s '� Redwood REDWOOD SHORES
<br /> N o � } Catifornia COMMUNITY FACILITIES DISTRICT NO. 99-1
<br /> w".s Cllu rouneee iee� (SHORES TRANSPORTATION IMPROVEMENT PROJECT)
<br /> O�,U �.
<br /> '�°N OF THE CITY OF REDWOOD CITY,
<br /> � ���
<br /> � SPECIAL TAX REFUNDING BONDS,
<br /> ` _ = SERIES 2013
<br /> -�.s �
<br /> �.�°� Dated:date of issuance Due:September 1,as shown on inside cover
<br /> � U Ul
<br /> s o � The City of Redwood City, California (the "City°), for and on behalf of the Redwood Shores Community Facilities
<br /> � m � District No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City(the "District"), is issuing the
<br /> �`o� above-captioned bonds (the "Bonds") to (i) refund in full and defease the Redwood Shores Community Facilities District
<br /> NN � No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City Special Tax Bonds, Series 2001A and
<br /> .� o � Series 2003B(collectively,the"Prior Bonds"),(ii)fund a reserve fund for the Bonds,and(iii)pay costs of issuing the Bonds
<br /> �� �,w and refunding the Prior Bonds. See "PLAN OF IZEFUNDING." The Prior Bonds were issued by the District to finance
<br /> No� certain public transportation system improvements located within and in the vicinity of the District. The Bonds are being
<br /> N � � issued pursuant to a Fiscal Agent Agreement,dated as of January 1,2013(the"Fiscal Agent Agreement"),by and between
<br /> �a? o the City,for and on behalf of the District,and U.S.Bank National Association,as fiscal agent(the"Fiscal Agent").
<br /> �.w w.
<br /> ��, � The Bonds are payable from the proceeds of an annual Special Tax (as defined in the Fiscal Agent Agreement) being
<br /> a o� levied on certain property located within the District (see "THE DISTIZICT"), and from certain funds pledged under the
<br /> �° � Fiscal Agent Agreement.The Special Tax is being levied according to a Rate and Method of Apportionment of Special Tax
<br /> a � o for the District.See"SECURITY FOR THE BONDS—Special Taxes"and Appendix B-"Rate and Method."
<br /> �� o Interest on the Bonds is payable on March 1 and September 1 of each year, commencing on September 1, 2013. The
<br /> �in� Bonds will be issued in book-entry form only and, when delivered, will be registered in the name of Cede & Co., as
<br /> s �.N nominee of The Depository Trust Company,New York,New York("DTC"),which will act as securities depository for the
<br /> °-'�� °�' Bonds. Individual purchases of the Bonds will be made in book-entry form only. Purchasers of the Bonds will not receive
<br /> o�° physical certificates representing their ownership interests in the Bonds purchased. The Bonds will be issued in the
<br /> o �.° principal amount of$5,000 and any integral multiple thereof.Principal of and interest on the Bonds are payable directly to
<br /> �:�� DTC by the Fiscal Agent.Upon receipt of payments of principal and interest,DTC will in turn distribute such payments to
<br /> s�� the beneficial owners of the Bonds.See"THE BONDS"and Appendix F-"DTC and the Book-Entry Only System."
<br /> �N� The Bonds are subject to optional redemption, mandatory redemption from Special Tax prepayments and related
<br /> �w s transfers from the Reserve Fund held under the Fiscal Agent Agreement, and mandatory sinking payment redemption
<br /> ��-6 prior to maturity.See"THE BONDS—Redemption."
<br /> � N o NONE OF THE FAITH AND CREDIT OF THE DISTRICT,THE CITY OR THE STATE OF CALIFORNIA OR OF ANY OF
<br /> � °i � THEIR RESPECTIVE POLITICAL SUBDIVISIONS IS PLEDGED TO THE PAYMENT OF THE BONDS. EXCEPT FOR THE
<br /> �w�, SPECIAL TAXES, NO OTHER TAXES ARE PLEDGED TO THE PAYMENT OF THE BONDS. THE BONDS ARE NEITHER
<br /> � E `o GENERAL OR SPECIAL OBLIGATIONS OF THE CITY NOR GENERAL OBLIGATIONS OF THE DISTRICT, BUT ARE
<br /> � i o LIMITED OBLIGATIONS OF THE CITY FOR THE DISTRICT,PAYABLE SOLELY FROM CERTAIN AMOUNTS PLEDGED
<br /> ����m THEREFOR UNDER THE FISCAL AGENT AGREEMENT,AS MORE FULLY DESCRIBED IN THIS OFFICIAL STATEMENT.
<br /> .� o'=
<br /> �o ��o This cover page contains certain information for quick reference only. Investors should read the entire Official
<br /> o °' �' Statement to obtain information essential to the making of an informed investment decision with respect to the Bonds.The
<br /> .��� purchase of the Bonds involves significant risks, and the Bonds are not appropriate investments for all types of investors.
<br /> � �� See"SPECIAL IZISK FACTORS"in this Official Statement for a discussion of certain risk factors that should be considered,
<br /> -a o � in addition to the other matters set forth in this Official Statement,in evaluating the investment quality of the Bonds.
<br /> �_ �,
<br /> `6 �� The Bonds are offered when, as and if issued, subject to approval as to their legality by Nossaman LLP, Irvine,
<br /> a�� California,Bond Counsel,and certain other conditions.Certain legal matters with respect to the Bonds will be passed upon
<br /> E�
<br /> � for the City by the City Attorney, and by Quint & Thimmig LLP, San Francisco, California, in its capacity as Disclosure
<br /> � �.o Counsel to the City for the Bonds. Certain legal matters related to the Bonds will be passed upon for the Underwriter by
<br /> ���,� Stradling Yocca Carlson&Rauth,A Professional Corporation,Newport Beach,California,acting as Underwriter's Counsel.
<br /> :�N N It is anticipated that the Bonds in definitive form will be available for delivery to DTC on or about January_,2013.
<br /> p��.�
<br /> �� _ � DH: La Rosa�Co.
<br /> � � �
<br /> �:a'� ���' I N V E S T M E N T B A N K E R 5
<br /> .�� �
<br /> a�'= The date of this Official Statement is January__,2013.
<br /> N.0 U
<br /> ~� `� *Preliminary,subject to change.
<br />
|