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<br />OFFICIAL STATEMENT <br /> <br />$ <br />2007 CERTIFICATES OF PARTICIPATION <br />(Library and Fire Stations Refunding Project) <br /> <br />Evidencing the Direct, Undivided Fractional Interests of the Owners Thereof <br />In Lease Payments to be Made by the <br />CITY OF SAN LEANDRO <br /> <br />to the <br />SAN LEANDRO PUBLIC FINANCING AUTHORITY <br /> <br />This Official Statement (which includes the cover page and Appendices hereto) (the <br />"Official Statement"), provides certain information concerning the sale and delivery of the <br />certificates of participation captioned above (the "Certificates"). <br /> <br />Any statements made in this Official Statement involving matters of opinion or of <br />estimates, whether or not so expressly stated, are set forth as such and not as representations <br />of fact, and no representation is made that any of the estimates will be realized. Definitions of <br />certain terms used herein and not defined herein have the meaning set forth in the Trust <br />Agreement orthe Lease Agreement. See "APPENDIX D - SUMMARY OF PRINCIPAL LEGAL <br />DOCUMENTS.1J <br /> <br />INTRODUCTION <br /> <br />This introduction is not a summary of this Official Statement. It is only a brief description <br />of and guide to, and is qualified by, more complete and detailed information contained in the <br />entire Official Statement, including the cover page and attached appendices, and the <br />documents summarized or described in this Official Statement. A full review should be made of <br />the entire Official Statement. The offering of the Bonds to potential investors is made only by <br />means of the entire Official Statement. <br /> <br />Certificate Terms. The Certificates are being executed and delivered in denominations <br />of $5,000 or any integral multiple thereof, under a Trust Agreement dated as of May 1, 2007 <br />(the "Trust Agreement"), among the City of San Leandro (the "City"), the San Leandro Public <br />Financing Authority (the "Authority") and U.S. Bank National Association, as trustee (the <br />"Trustee"). Interest will accrue on the prinCipal component of each Certificate at the applicable <br />interest rate (as set forth on the cover hereof) from the date of original delivery of the <br />Certificates until its date of maturity or prior prepayment, with interest payable on each May 1 <br /> <br />Prelill1,inary, subject to change. <br />