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2008 Tax Allocation Bonds 6 May 27, 2008 <br />Code Compliance Review -Not Applicable <br />Board/Commission Findings -Not Applicable <br />Summary of Public Outreach Efforts <br />This meeting was properly noticed in accordance with California law. <br />Fiscal Impact <br />Staff estimates the average annual debt service on the 2008 Bonds will be approximately $2.2 <br />million. The 2008 Bonds are scheduled to mature in fiscal year 2037/38. <br />Budget Authority <br />California State law and the San Leandro City Charter authorize the Agency to issue bonds to <br />accomplish its Redevelopment Plan goals. <br />A tta ch m en tr <br />In order to complete the issuance and sale of the 2008 Bonds, the City and the Redevelopment <br />Agency must approve and execute the following resolutions: <br />Resolution of the Redevelopment Agency of the City of San Leandro Authorizing the <br />Issuance of Not to Exceed $35,000,000 Aggregate Principal Amount of Alameda County- <br />City of San Leandro Redevelopment Project Tax Allocation Bonds, Series 2008, Approving <br />and Authorizing and Directing_Execution of Indenture of Trust Relating Thereto, Authorizing <br />Sale of Such Bonds, Approving Official Statement, and Providing Other Matters Properly <br />Relating Thereto -Approval of this resolution authorizes the Agency to issue and sell the <br />bonds, approves the Preliminary Official Statement and approves all other documents <br />necessary for the sale of the 2008 Bonds. <br />Resolution of the City Council of the City of San Leandro Approving the Issuance by the <br />Redevelopment Agency of the City of San Leandro of Not to Exceed $35,000,000 Aggregate <br />Principal Amount of Redevelopment Agency of the Cit~of San Leandro Alameda County- <br />City of San Leandro Redevelopment Project Tax Allocation Bonds, Series 2008, and <br />Providing Other Matters Properly Relating Thereto -Approval of this resolution authorizes <br />the Agency to issue the 2008 Bonds, as required by the Community Redevelopment Law. <br />The following documents are presented to the City and the Redevelopment Agency for approval <br />as specified in the resolutions described above. <br />Indenture of Trust -this agreement between the Agency and the trustee directs the <br />application of bond proceeds by the trustee and governs all transactions during the life of the <br />2008 Bonds. <br />Preliminary Official Statement -this is the public document that summarizes all aspects of <br />the financing transaction and the 2008 Bonds. This is the document that investors rely on <br />when making their investment decision. <br />08043 <br />