AgdaPkt 2013-05-20 Closed Cancelled and Special

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Atta 7.A. - Page 22 TABLE OF CONTENTS Pa�e Pa�e INTRODUCTION.................................................................1 ENTERPRISE FINANCIAL INFORMATION...............31 General...............................................................................1 Budgetary Process..........................................................31 The Authority....................................................................1 Financial Statements......................................................32 The City and the Enterprise............................................1 Enterprise Accounting...................................................32 Authority for Issuance of the Bonds..............................2 Outstanding Enterprise Obligations...........................33 Purpose of the Bonds.......................................................2 Historical Revenues,Expenditures and Debt Security and Source of Repayment................................2 Service Coverage..........................................................33 Outstanding Enterprise Debt..........................................2 Projection of Revenues,Expenditures and Debt FutureParity Debt............................................................2 Service Coverage..........................................................34 Rate Covenants.................................................................3 INVESTMENT OF CITY FUNDS.....................................34 Redemption.......................................................................3 CONSTITUTIONAL LIMITATIONS ON Book-Entry Form..............................................................3 Continuing Disclosure.....................................................3 APPROPIZIATIONS AND FEES......................................35 TaxMatters........................................................................4 Article XIIIA....................................................................35 Professionals Involved in the Offerin 4 Article XIIIB....................................................................35 g.......................... Pro osition 218....................... ....... ....... . . .. ...............36 Forward-Looking Statements.........................................4 p ' ' ' '' ' ' Other Matters....................................................................4 Effect of Proposition 218 on the City;Possible Other Information............................................................5 Limitations on Enforcement Remedies.....................38 Proposition26.................................................................38 FINANCING PLAN.............................................................5 Future Initiatives............................................................39 ESTIMATED SOURCES AND USES OF PROCEEDS....6 �SK FACTORS RELATING TO THE BONDS.............39 DEBT SERVICE IZEQUIIZEMENTS....................................7 General.............................................................................39 THEBONDS..........................................................................7 Limited Obligations.......................................................40 General Provisions...........................................................7 �sks Relating to Water Supplies.................................40 Book-Entry Only System.................................................8 Wholesale Water Costs..................................................40 Transfer and Exchange....................................................8 Seismic Considerations.................................................41 Terms of Redemption......................................................8 Environmental Regulation............................................41 Maintenance and Operation Costs..............................41 SECUIZITY FOR THE BONDS..........................................10 Limited Recourse on Default........................................41 Revenues;Pledge of Revenues.....................................10 Limitations on Remedies...............................................42 Installment Payments;Application of Systems Initiatives.........................................................................42 Revenues........................................................................11 Covenant to Maintain and Bud et...............................12 Bankruptcy......................................................................42 g Rate Process....................................................................42 Reserve Fund..................................................................12 Termination of Reserve Fund.......................................42 Special Obligation;Obligations Absolute...................14 Insurance.........................................................................43 Rate Covenants;Collection of Rates and Charges.....14 Tax Exemption................................................................43 Additional Debt..............................................................15 Parity Obligations..........................................................43 Insurance;Net Proceeds;Condemnation Awards....18 Secondary Market..........................................................43 THE AUTHORITY.............................................................19 APPROVAL OF LEGAL PROCEEDINGS......................43 THEENTERPRISE.............................................................19 LITIGATION.......................................................................43 General Background......................................................19 Management....................................................................19 RATINGS.............................................................................44 Service Area.....................................................................19 CONTINUING DISCLOSUIZE.........................................44 Water Supply and Demand..........................................20 TAX MATTERS..................................................................45 Historical Wholesale Water Cost.................................22 General.............................................................................45 Water Conservation Program.......................................23 Changes in Federal and State Tax Law.......................46 Water Quality and Environmental Issues and Form of Opinion.............................................................46 Regulatory Requirements...........................................24 CapitalImprovementProgram....................................25 UNDERWRITING..............................................................47 Billing and Collection Procedures...............................26 FINANCIAL ADVISOR....................................................47 Current Water Rates,Fees and Charges.....................26 OTHER INFORMATION..................................................47 Water Rate Increases......................................................28 Comparative Bi-Monthly Water Bills..........................29 �SCELLANEOUS............................................................47 CustomerBase................................................................29 APPENDIX A: GENERAL INFORMATION ABOUT THE CITY OF REDWOOD CITY AND SAN MATEO COUNTY APPENDIX B: COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY FOR THE FISCAL YEAR ENDED JUNE 30,2012 APPENDIX C: CITY INVESTMENT POLICY APPENDIX D: SUMMARY OF PRINCIPAL LEGAL DOCUMENTS APPENDIX E: FORM OF FINAL OPINION OF BOND COUNSEL APPENDIX F: FORM OF CONTINUING DISCLOSURE CERTIFICATE APPENDIX G: BOOK-ENTRY ONLY SYSTEM