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� � 7.A. - Page 19 PRELIMINARY OFFICIAL STATEMENT DATED MAY�2013 Attachment 6
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<br /> NEW 1SSUE—FULL BOOK ENTRY RATINGS:
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<br /> � 3 Moody's:"_"
<br /> �� S&P:"
<br /> � � (See"RATINGS"herein)
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<br /> �'� In the opinion of Nossaman LLP,Irvine,California,Bond Counsel,based on existing statutes,regulations,rulings and court decisions and assuming,among other matters,
<br /> � � compliance with certain wvenants,interest on the Bonds is excludable from gross inwme for federal inwme tax purposes,and is not a specific preference item for purposes
<br /> �� of the federal individual or corporate alternative minimum taxes,although Bond Counsel observes that it is included in adjusted current earnings in calculating coxporate
<br /> �U alternative minimum taxable inwme.In the further opinion of Bond Counsel,interest on the Bonds is,under existing law,exempt from State of California personal income
<br /> � o taxes.Bond Counsel expresses no opinion regarding other federal or State tax consequences relating to the ownership or disposition of,or the accrual or receipt of interest on,
<br /> � the Bonds.See"TAX MATTERS"herein.
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<br /> ° � '�'' City of Redwood City
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<br /> �� Redwood Public Financing Authority
<br /> � �1lt�r Calitornia
<br /> �� U lx(ountled IBB7 (San Mateo County, California)
<br /> y 3 �� � Water Revenue Refunding Bonds, Series 2013
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<br /> �.�o Dated:Date of Delivery Due:February 1,as shown below
<br /> �'�, The$ *City of Redwood City Public Pinancing Authority Water Revenue Refunding Bonds,Series 2013(the'Bonds"),will be registered in the name of Cede&
<br /> �,� Co.,as nominee of The Depository Trust Company,New York,New York("DTC").DTC will act as securities depository of the Bonds.Individual purchases of Bonds will be
<br /> �.� made in book-enhy form only,in denominations of$5,000 or any integral multiple thereof.Purchasers of Bonds will not receive certificates representing their interest in the
<br /> o�, Bonds purchased but will receive a credit balance in the records of DTC. Principal of and interest on the Bonds are payable directly to DTC by U.S. Bank National
<br /> U p Association,San Prancisco,California,as trustee(the"Trustee").Principal is payable on the dates set forth below.Interest is payable semiannually on each Pebruary 1 and
<br /> °' � August 1,commencing August 1,2013.Upon receipt of payments of principal of,premium,if any,and interest on the Bonds,DTC is obligated in turn to remit such principal,
<br /> �� premium,if any,and interest to the DTC Participants(as defined herein)for subsequent disbursement to purchasers of the Bonds,as described herein.
<br /> �� The Bonds are subject to redemption prior to maturity.See"THE BONDS—Redemption"herein.
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<br /> � � The Bonds are special obligations of the City of Redwood City Public Pinancing Authority(the"Authority")payable from the revenues pledged under the Indenture of Trust,
<br /> o�" dated as of June 1,2013,by and between the Authority and the Trustee,consisting primarily of installment payments(the"Installment Payments")to be made by the City of
<br /> � � Redwood City (the "City") under an installment purchase contract, dated as of June 1, 2013,by and between the Authority and the City (the "Installment Purchase
<br /> �, ContracY'). The Installment Payments are secured by a pledge of and lien on the net revenues (the "Net Revenues") of the City's municipal water entexprise (the
<br /> �� "Entexprise').Net Revenues are also pledged,on a parity with the Installment Purchase Contract,under an installment purchase contract by and between the Authority and
<br /> m m the City(the"2007 Installment Purchase Contract"),under which the City makes installment payments constituting revenues to secure the Authority's W ater Revenue Bonds,
<br /> �Y Series 2007A,and under an installment purchase contract by and between the Authority and the City(the°2006 Installment Purchase ContracY'),under which the City
<br /> �� makes installment payments constituting revenues to secure the Authority's Water Revenue Bonds,Series 2006A(the"2006 Bonds").Net Revenues may also be pledged
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<br /> � under additional parity obligations hereafter issued or incurred by the City(the'Parity Obligations").The City has covenanted under the Installment Purchase Contract to
<br /> �, � prescribe,revise and collect such charges kom the services and facilities of the W ater System which will produce gross revenues sufficient in each Piscal Year to provide Net
<br /> �; �, Revenues equal to at least 1.20 times the aggregate of obligations of the City with respect to the Installment Purchase Contract,the 2007 Installment Purchase Contract,the
<br /> �� 2006 Installment Purchase Contract and payments with respect to any Parity Obligations hereafter issued or incurred by the City in such Fiscal Year.
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<br /> �� The Bonds are being issued to(a)refund,on an advance basis,the Authority's outstanding City of Redwood City Public Pinancing Authority Water Revenue Bonds,Series
<br /> °' 0 2005A,(b)fund a reserve fund for the Bonds,and(c)pay the wsts of issuance of the Bonds.See"PINANCING PLAN"herein.See also"SECURITY POR THE BONDS—
<br /> � � Reserve Pund"herein for a description of certain circumstances under which the Reserve Pund for the Bonds may be terminated.
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<br /> � c Neither the Bonds nor the obligation of the City to make Installment Payments constitutes an obligation of the City or the Authority for which the City is obligated to
<br /> c�c levy or pledge any form of taxation or for which the City has levied or pledged any form of taxation.The Authority has no taxing power.Neither the Bonds nor the
<br /> �; obligation of the City to make Installment Payments under the Installment Purchase Contract constitutes a debt of the City,the County of San Mateo,the State of
<br /> v U California or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction.
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<br /> � o MATURITY SCHEDULE�
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<br /> CUSIPt Prefix:75788R
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<br /> p a; Maturity Maturity
<br /> U c Date Principal Interest CUSIPt Date Principal Interest CUSIPt
<br /> � � (Februar� Amount Rate Yield Suffix (Februar� Amount Rate Yield Suffix
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<br /> �� v Bids for the purchase of the Bonds will be received by the Authority on Wednesday,June 5,2013,eledranically only,through the I-Deal LLC BiDCOMP/PARITY`�system,
<br /> until 10:00 A.M.,Pacific Da li ht time.The Bonds will be sold ursuant to the terms of sale set forth in the Official Notice of Sale,dated Ma ,2013.
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<br /> ��� �' This cover page contains information for general reference only.It is not a summary of this issue.Potential purchasers of the Bonds are advised to read the entire Official
<br /> ��� Statement to obtain information essential to making an informed investment decision.
<br /> �°�-� The Bonds will be offered when,as and if issued and received by the Underwriter subject to the approval of legality by Nossaman LLP,Irvine,California,Bond Counsel.
<br /> v�a � Certain legal matters will be passed upon for the Authority and the City by Quint&Thimmig LLP,San Francisco,California,Disclosure Counsel,and by Pamela Thompson,
<br /> �;� o Esq.,the City Attorney.It is expected that the Bonds,in book-enhy form,will be available for delivery through the facilities of DTC on or about June__,2013.
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<br /> w �� Dated:June ,2013
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<br /> �'� o *Preliminary,subject to change.
<br /> � .,��, p t Copyright 2013,American Bankers Association.CUSIP�is a registered trademark of the American Bankers Association.CUSIP data herein is provided by CUSIP Global Seroices,operated
<br /> .�'�'� by Standard&Poor's.This data is not intended to create a database and does not seroe in any way as a substitute for CUSIP Global Seroices.CUSIP numbers have been assigned by an
<br /> m �y independent company not affiliated with the Authority and are included solely for the convenience of the registered owners of the Bonds.None of the Authority,the City or the Underwriter
<br /> w �'� is responsible for the selection or uses of these CUSIP numbers and no representation is made as to their correctness on the Bonds or as included herein.The CUSIP number for a specific
<br /> �'� ;°.' maturity is subject to being changed after the delivery of the Bonds as a result of various subsequent actions including,but not limited tq a refunding in whole or in part or as a result of the
<br /> F-i p° procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of certain maturities of the Bonds.
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