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<br />
<br />Jones Hall
<br />Draft Dated 8-15-14
<br />
<br />
<br />
<br />NEW ISSUE—BOOK-ENTRY RATING: S&P: “__”
<br /> See “CONCLUDING INFORMATION - Rating”
<br />
<br />In the opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, subject, however to
<br />certain qualifications described in this Official Statement, under existing law, the interest on the 2014 Bonds is excluded from gross
<br />income for federal income tax purposes and such interest is not an item of tax preference for purposes of the federal alternative
<br />minimum tax imposed on individuals and corporations, although for the purpose of computing the alternative minimum tax imposed on
<br />certain corporations, such interest is taken into account in determining certain income and earnings. In the further opinion of Bond
<br />Counsel, such interest is exempt from California personal income taxes. See “TAX MATTERS.”
<br />
<br />$____________*
<br />SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
<br />OF THE CITY OF SAN LEANDRO
<br />2014 TAX ALLOCATION REFUNDING BONDS
<br />(REDEVELOPMENT PROJECTS)
<br />
<br />Dated: Delivery Date Due: September 1, as shown on the inside front cover
<br />
<br />Purpose of the 2014 Bonds. The captioned bonds (the “2014 Bonds”) are being issued by the Successor Agency to the
<br />Redevelopment Agency of the City of San Leandro (the “Successor Agency”) to prepay two outstanding series of bonds payable from
<br />tax increment revenue generated in the Plaza Project Area and the West San Leandro/MacArthur Boulevard Project Area (together,
<br />the “Project Areas”).
<br />
<br />Book-Entry. The 2014 Bonds will be delivered as fully registered bonds, registered in the name of Cede & Co. as nominee of
<br />The Depository Trust Company, New York, New York (“DTC”), and will be available to ultimate purchasers (“Beneficial Owners”) in the
<br />denomination of $5,000 or any integral multiple thereof, under the book-entry system maintained by DTC. Beneficial Owners will not
<br />be entitled to receive delivery of bonds representing their ownership interest in the 2014 Bonds. Annual principal of, premium if any,
<br />and semiannual interest on the 2014 Bonds due March 1 and September 1 of each year, commencing March 1, 2015, will be payable
<br />by U.S. Bank National Association, as Trustee, to DTC for subsequent disbursement to DTC participants, so long as DTC or its
<br />nominee remains the registered owner of the 2014 Bonds (see “THE 2014 BONDS —Book-Entry System”). See “THE 2014 BONDS.”
<br />
<br />Redemption. The 2014 Bonds are subject to optional redemption and mandatory sinking account redemption prior to
<br />maturity. See “THE 2014 BONDS – Redemption.”
<br />
<br />Security for the 2014 Bonds. The 2014 Bonds are payable from and secured by a pledge of Tax Revenues (as defined in
<br />this Official Statement) to be derived from the Project Areas and moneys in certain funds and accounts established under the
<br />Indenture of Trust, dated as of _________ 1, 2014 (the “Indenture”), by and between the Successor Agency and U.S. Bank National
<br />Association, as trustee of the 2014 Bonds, as further described in this Official Statement. See “SECURITY FOR THE 2014 BONDS.”
<br />
<br />The Successor Agency will fund a reserve fund for the 2014 Bonds, which may be in the form of a debt service reserve surety
<br />bond. See “SECURITY FOR THE 2014 BONDS – Reserve Account.”
<br />
<br />Insurance Policy or Reserve Fund Surety Bond. The Successor Agency has applied for a municipal bond insurance policy
<br />and a debt service reserve fund surety bond and will decide whether to purchase any such municipal bond insurance policy or debt
<br />service reserve fund surety bond in connection with the pricing of the 2014 Bonds.
<br />
<br />Additional Bonds. Other than certain refunding bonds, as provided in the Indenture (see “THE 2014 BONDS - Additional
<br />Bonds”), the Indenture does not authorize the Successor Agency to issue other bonds that are secured by and payable from Tax
<br />Revenues on a senior or parity basis to the 2014 Bonds.
<br />
<br />Cover is a Summary. This cover page of the Official Statement contains information for quick reference only. It is not a
<br />complete summary of the 2014 Bonds. Investors must read the entire Official Statement to obtain information essential to the making
<br />of an informed investment decision. Attention is hereby directed to certain risk factors more fully described in this Official Statement.
<br />See “RISK FACTORS”.
<br />
<br />Limited Obligations. The 2014 Bonds are special obligations of the Successor Agency and are secured by an irrevocable
<br />pledge of, and are payable as to principal, interest and premium, if any, from Tax Revenues and other funds described in this Official
<br />Statement. The 2014 Bonds, interest and premium, if any, thereon are not a debt of the City of San Leandro (the “City”), the County of
<br />Alameda (the “County”), the State of California (the “State”) or any of their political subdivisions except the Successor Agency, and
<br />none of the City, the County, the State nor any of their political subdivisions except the Successor Agency is liable thereon. The 2014
<br />
<br />* Preliminary; subject to change.
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