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File Number: 16-511 <br />The par value of the Refunding Bonds will not exceed $15.8 million and they will mature in <br />2029, the same as the issue being refunded. The Refunding Bonds are projected to have an <br />all-in true interest cost of less than 2.15% in today’s market. Annual debt service savings on <br />the Refunding Bonds compared to the 2007 COPs being refunded are projected to be just <br />under $200,000 annually, for total net present value savings of just over $2.2 million. These <br />savings numbers are just projections at this time, based on current market rates, and will not <br />be finalized until the Refunding Bonds price on or about 11/1/16. <br />Budget Authority <br />City of San Leandro Charter <br />Attachments: <br />·Attachment 1 -Current Municipal Bond Market Allows For Projected Savings As Shown <br />In The Table <br />·The following financing documents: <br />o Site Lease <br />o Lease Agreement <br />o Assignment Agreement <br />o Indenture of Trust <br />o Bond Purchase Agreement <br />o Preliminary Official Statement <br />o Continuing Disclosure Agreement <br />o Termination Agreement <br />o Irrevocable Refunding Instructions <br />o Indemnity Letter <br />CONCLUSION <br />Staff recommends that the City Council and the San Leandro Public Financing Authority <br />approve the resolutions and documents required to issue the San Leandro Public Financing <br />Authority 2016 Refunding Lease Revenue Bonds. <br />PREPARED BY: David Baum, Director, Finance Department <br />Page 5 City of San Leandro Printed on 10/11/2016