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IN THE CITY OF SAN LEANDRO SUCCESSOR AGENCY RESOLUTION NO. 2014-004 SA RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO CONFIRMING THE ISSUANCE OF REFUNDING BONDS PURSUANT TO AN INDENTURE OF TRUST, APPROVING PRELIMINARY AND FINAL OFFICIAL STATEMENTS AND PROVIDING OTHER MATTERS RELATING THERETO WHEREAS, the Redevelopment Agency of the City of San Leandro (the"Former Agency") was a public body, corporate and politic, duly established and authorized to transact business and exercise powers under and pursuant to the provisions of the Community Redevelopment Law of the State of California, constituting Part 1 of Division 24 of the Health and Safety Code of the State (as amended,the "Redevelopment Law"); WHEREAS. Assembly Bill xl 26, effective June 29, 2011, together with AB 1484, effective June 27, 2012 ("AB 1484"), codified Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section 34170) of Division 24 of the California Health and Safety Code (as amended from time to time,the "Dissolution Act"); WHEREAS, pursuant to Section 34172(a) of the Dissolution Act,the Former Agency has been dissolved and no longer exists as a public body, corporate and politic, and pursuant to Section 34173 of the Dissolution Act,the City of San Leandro (the "City") has become the successor entity to the Agency(the "Successor Agency"); WHEREAS, prior to the dissolution of the Former Agency,the Former Agency issued its Redevelopment Agency of the City of San Leandro Plaza Redevelopment Project Tax Allocation Bonds, Series 2002 (the "Prior 2002 Bonds") in the initial aggregate principal amount of$15,935,000 for the purpose of financing redevelopment activities and of providing funds to refinance the Prior 1993 Bonds; WHEREAS,prior to the dissolution of the Former Agency, the Former Agency issued its Redevelopment Agency of the City of San Leandro West San Leandro/MacArthur Boulevard Project Tax Allocation Bonds, Series 2004 (the "Prior 2004 Bonds" and together with the Prior 2002 Bonds, the "Prior Bonds") in the initial aggregate principal amount of$5,500,000 for the purpose of financing redevelopment activities; WHEREAS, Section 34177.5 authorizes the Successor Agency to issue refunding bonds pursuant to Article 11 (commencing with Section 53580) of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code (the"Refunding Law") for the purpose of achieving debt service savings within the parameters set forth in Section 34177.5(a)(1) (the "Savings Parameters"); WHEREAS, the Successor Agency, pursuant to Resolution No. 2014-002A(the"SA Resolution"), adopted on June 16, 2014, approved the issuance by the Successor Agency of the City of San Leandro 2014 Subordinate Tax Allocation Refunding Bonds (Redevelopment Projects) (the"Refunding Bonds") subject to the Savings Parameters being met;