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File Number: 14-360 <br />its Redevelopment Agency of the City of San Leandro West San Leandro/MacArthur <br />Boulevard Project Tax Allocation Bonds, Series 2004 (the “Prior 2004 Bonds” and together <br />with the Prior 2002 Bonds, the “Prior Bonds”) in the initial aggregate principal amount of <br />$5,500,000 for the purpose of financing redevelopment activities; <br />WHEREAS, Section 34177.5 authorizes the Successor Agency to issue refunding <br />bonds pursuant to Article 11 (commencing with Section 53580) of Chapter 3 of Part 1 of <br />Division 2 of Title 5 of the Government Code (the “Refunding Law”) for the purpose of <br />achieving debt service savings within the parameters set forth in Section 34177.5(a)(1) (the <br />“Savings Parameters”); <br />WHEREAS, the Successor Agency, pursuant to Resolution No. 2014-002A (the “SA <br />Resolution”), adopted on June 16, 2014, approved the issuance by the Successor Agency of <br />the City of San Leandro 2014 Subordinate Tax Allocation Refunding Bonds (Redevelopment <br />Projects) (the “Refunding Bonds”) subject to the Savings Parameters being met; <br />WHEREAS, the Successor Agency requested that the Oversight Board for the <br />Successor Agency (the “Oversight Board”) approve the issuance of the Refunding Bonds by <br />the Successor Agency; <br />WHEREAS, the Oversight Board, by Resolution OB No. 2014-002B (the “OB <br />Resolution”), adopted June 25, 2014, approved the issuance of the Refunding Bonds by the <br />Successor Agency, and the OB Resolution, together with additional materials, have been <br />submitted to the California Department of Finance for its approval of the OB Resolution and <br />the issuance of the Refunding Bonds; <br />WHEREAS, the Successor Agency, with the assistance of Jones Hall, A Professional <br />Law Corporation, as disclosure counsel, and the firm of Public Financial Management, Inc., as <br />financial advisor, has prepared a draft of the Official Statement for the Refunding Bonds (the <br />"Official Statement"), which contains, among other things, information regarding the <br />Refunding Bonds, the Former Agency and the Successor Agency, the preliminary form of <br />which is on file with the City Clerk; <br />WHEREAS, the Successor Agency, with the aid of its staff, has reviewed the Official <br />Statement and wishes at this time to approve its use and distribution as in the public interests <br />of the Successor Agency and applicable taxing entities; <br />NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City <br />of San Leandro RESOLVES as follows: <br />1. Confirmation of Approval of Issuance of the Refunding Bonds; Name of Refunding <br />Bonds. The Successor Agency hereby confirms its actions in the SA Resolution authorizing <br />and approving the issuance and sale of the Refunding Bonds. Notwithstanding such <br />confirmation, the Successor Agency hereby changes the name of the Refunding Bonds to <br />“Successor Agency of the City of San Leandro 2014 Tax Allocation Refunding Bonds <br />(Redevelopment Projects).” <br />2. Approval of Official Statement. The Successor Agency hereby approves the <br />preliminary Official Statement in substantially the form on file with the City Clerk. Distribution <br />Page 2 City of San Leandro Printed on 8/26/2014