10B Action 2009 1221 - Laserfiche WebLink

Home

Alameda by a formula. The percentage payable to each varies over time per a mutual agreement. See "THE AGENCY AND THE PROJECT AREAS." On July 19, 1999, the City Council adopted the Redevelopment Plan (as amended, the "West San Leandro/MacArthur Boulevard Redevelopment Plan") for the West San Leandro Project Area by Ordinance No. 99-025, as amended by Ordinance No. 2000-014 adopted on June 26, 2000. The West San Leandro Project Area is largely comprised of industrial parcels. The assessed value of the West San Leandro Project Area for fiscal year 2009-10 is approximately $1.031 billion and the base year valuation is $628,295,280. The City. The City of San Leandro is a charter city operating under the mayor/council/manager form of government. The City was incorporated in 1872 under the laws of the State of California. It is located in Alameda County, approximately 20 miles southeast of San Francisco. The City has a population of approximately 82,472 as of January 1, 2009. For certain information regarding the City, see "APPENDIX D -City of San Leandro General Information." The 2010 Bonds are not an obligation of the City. The Agency. The Agency was created by the City Council on October 17, 1960 under the provisions of the Redevelopment Law, at which time the City Council declared itself to be the governing board of the Agency. The Project Areas are two of three redevelopment project areas of the Agency. Miscellaneous. There follows in this Official Statement, which includes the cover page and Appendices hereto, a brief description of the 2010 Bonds, the Agency, Housing Tax Revenues, the Project Areas, security for the 2010 Bonds, risk factors and limitations on Housing Tax Revenues and certain other information relevant to the issuance of the 2010 Bonds. All references herein to the Indenture are qualified in their entirety by reference to the definitive form thereof, all references to the 2010 Bonds are further qualified by references to the information with respect thereto contained in the Indenture. A summary of certain provisions of the Indenture is included in APPENDIX C. A recent financial statement of the Agency is included in APPENDIX A. The information set forth herein and in the Appendices hereto has been furnished by the Agency and includes information which has been obtained from other sources which are believed to be reliable but is not guaranteed as to accuracy or completeness and is not to be construed as a representation by the Underwriter. All capitalized terms used herein and not normally capitalized have the meanings assigned thereto in the Indenture, unless otherwise stated herein. The information and expressions of opinion herein speak only as of the date of this Official Statement and are subject to change without notice. Neither delivery of this Official Statement nor any sale made hereunder nor any future use of this Official Statement shall, under any circumstances, create any implication that there has been no change in the affairs of the Agency since the date hereof. All financial and other information presented in this Official Statement has been provided by the Agency or the City from their records, except for information expressly attributed to other sources. The presentation of information, including table of receipts from tax increment revenues, is intended to show recent historic information and is not intended to indicate future or continuing trends in the financial or other affairs of the Agency or the City. No representation is made that past experience, as it might be shown by such financial and other information, will necessarily continue or be repeated in the future. -3-