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File Number: 14-240 <br />Release from 2004 TABs Reserve Fund 400,817 <br />Original Issue Premium 682,362 <br />Total Sources of Funds $ 16,896,123 <br />Uses of Funds <br />Refunding Escrow Deposit $ 15,270,840 <br />Costs of Issuance 368,288 <br />Underwriter’s Discount 69,214 <br />Debt Service Reserve Fund 1,187,781 <br />Total Uses of Funds $ 16,896,123 <br />Sources of funds include the par and premium amount of the 2014 Refunding Bonds as well <br />as the funds available to be released from the 2002 and 2004 TABs debt service reserve and <br />escrow funds. It is currently expected that a debt service reserve fund will be funded. The <br />underwriter’s discount is a fee paid to the underwriter for structuring and marketing the 2014 <br />Refunding Bonds. The costs of issuance pay for legal, financial advisor, City staff, trustee, <br />printing and other issuance costs. <br />The Financing Team <br />Staff has been working with the firms listed below to bring this financing transaction to the <br />Successor Agency for approval . Therefore, the resolution of issuance to be adopted by the <br />Successor Agency directs staff to enter into agreements for services with the following firms in <br />the following roles: <br />Name of Firm Role <br />Public Financial Management Financial Advisor <br />Jones Hall, APLC Bond Counsel <br />Jones Hall, APLC Disclosure Counsel <br />Stifel Nicolaus Underwriter <br />U.S. Bank National Association Trustee <br />Public Financial Management (“PFM”) was chosen via a request for proposals to serve as the <br />City’s financial advisor. PFM most recently served as financial advisor for the City’s 2013 <br />Refunding Lease Revenue Bonds. <br />Jones Hall, APLC, has been the City’s bond counsel since 1979. Jones Hall ranks among the <br />top two bond counsel in the number of state and local bond issues in California during each of <br />the past ten years. Similarly, during the past ten years, Jones Hall has been among the top <br />two as disclosure counsel. <br />Stifel Nicolaus (“Stifel”) was chosen via a request for proposals. Stifel was deemed to be the <br />strongest underwriter from a group of five proposals received. The primary reason for Stifel’s <br />selection is its experience with Tax Allocation Bonds in California , particularly since the <br />dissolution of redevelopment agencies. <br />U.S. Bank is currently the bond trustee for the City’s 2002 and 2004 TABs. U.S. Bank is one <br />of the top five municipal bond trustees in the country and most recently served as trustee for <br />the City’s 2013 Refunding Lease Revenue Bonds. U.S. Bank also serves the City with two <br />local branch offices . <br />Page 3 City of San Leandro Printed on 6/10/2014