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File Number: 14-241 <br />WHEREAS, following approval by the Oversight Board of the issuance of the <br />Refunding Bonds by the Successor Agency and upon submission of the Oversight Board <br />Resolution to the California Department of Finance, the Successor Agency will , with the <br />assistance of its Disclosure Counsel, the Financial Advisor and the Fiscal Consultant to the <br />Successor Agency, cause to be prepared a form of Official Statement for the Refunding <br />Bonds describing the Refunding Bonds and containing material information relating to the <br />Successor Agency and the Refunding Bonds , the preliminary form of which will be submitted <br />to the Successor Agency for approval for distribution by the Original Purchaser , as underwriter <br />of the Refunding Bonds, to persons and institutions interested in purchasing the Refunding <br />Bonds; <br />NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City <br />of San Leandro RESOLVES as follows : <br />1.Determination of Savings. The Successor Agency has determined that there are <br />significant potential savings available to the Successor Agency and to applicable taxing <br />entities in compliance with the Savings Parameters by the issuance by the Successor Agency <br />of the Refunding Bonds to provide funds to refund and defease the Prior Bonds, all as <br />evidenced by the Debt Service Savings Analysis on file with the Successor Agency , which <br />Debt Service Savings Analysis is hereby approved . <br />2.Approval of Issuance of the Bonds . The Successor Agency hereby authorizes and <br />approves the issuance of the Refunding Bonds under the Law and the Refunding Law in the <br />aggregate principal amount of not to exceed $14,000,000, provided that the Refunding Bonds <br />are in compliance with the Savings Parameters at the time of sale and delivery. <br />3.Approval of Indenture. The Successor Agency hereby approves the Indenture <br />prescribing the terms and provisions of the Refunding Bonds and the application of the <br />proceeds of the Refunding Bonds. Each of the Mayor, the City Manager or the Finance <br />Director of the City, on behalf of the Successor Agency (each, an “Authorized Officer”), is <br />hereby authorized and directed to execute and deliver, and the City Clerk of the City, on <br />behalf of the Successor Agency , is hereby authorized and directed to attest to, the Indenture <br />for and in the name and on behalf of the Successor Agency , in substantially the form on file <br />with the Successor Agency, with such changes therein, deletions therefrom and additions <br />thereto as the Authorized Officer executing the same shall approve , such approval to be <br />conclusively evidenced by the execution and delivery of the Indenture. The Successor <br />Agency hereby authorizes the delivery and performance of the Indenture. <br />4.Approval of Refunding Instructions . The forms of the Refunding Instructions on file <br />with the Successor Agency are hereby approved and the Authorized Officers are , each acting <br />alone hereby authorized and directed, for and in the name and on behalf of the Successor <br />Agency, to execute and deliver the Refunding Instructions. The Successor Agency hereby <br />authorizes the delivery and performance of its obligations under the Refunding Instructions. <br />5.Oversight Board Approval of the Issuance of the Bonds . The Successor Agency <br />hereby requests the Oversight Board, as authorized by Section 34177.5(f), to direct the <br />Successor Agency to undertake the refunding proceedings and as authorized by Section <br />34177.5(f) and Section 34180 to approve the issuance of the Refunding Bonds pursuant to <br />Section 34177.5(a)(1) and this Resolution and the Indenture. <br />Page 3 City of San Leandro Printed on 6/10/2014