SA Reso 2017-008 - Laserfiche WebLink

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WHEREAS,pursuant to Section 34179, an oversight board(the "Oversight Board") has been established for the Successor Agency; WHEREAS, the Successor Agency is now requesting that the Oversight Board direct the Successor Agency to undertake the refunding proceedings and to approve the issuance of the Refunding Bonds pursuant to this Resolution and the Indenture; WHEREAS, the Successor Agency further requests that the Oversight Board make certain determinations described below on which the Successor Agency will rely in undertaking the refunding proceedings and the issuance of the Refunding Bonds; WHEREAS, the Successor Agency has determined to sell the Refunding, Bonds to Raymond James & Associates, Inc. (in such capacity, together with any other underwriter selected by the Authorized Officers to serve as a co-manager,the "Original Purchaser")pursuant to the terms of the Purchase Agreement; WHEREAS, following approval by the Oversight Board of the issuance of the Refunding Bonds by the Successor Agency and upon submission of the Oversight Board Resolution to the California Department of Finance,the Successor Agency will, with the assistance of Jones Hall, A Professional Law Corporation, as Disclosure Counsel ("Disclosure Counsel"), the Municipal Advisor, and Urban Analytics LLC, as Fiscal Consultant ("Fiscal Consultant"), cause to be prepared a form of Official Statement for the Refunding Bonds describing the Refunding Bonds and containing material information relating to the Successor Agency and the Refunding Bonds, the preliminary form of which will be submitted to the Successor Agency for approval for distribution by the Original Purchaser, as underwriter of the Refunding Bonds,to persons and institutions interested in purchasing the Refunding Bonds. NOW, THEREFORE, the Successor Agency to the Redevelopment Agency of the City of San Leandro RESOLVES as follows: 1. Determination of Savings. The Successor Agency has determined that there are significant potential savings available to the Successor Agency and to applicable taxing entities in compliance with the Savings Parameters by the issuance by the Successor Agency of the Refunding Bonds to provide funds to refund and defease the Prior Bonds, all as evidenced by the Debt Service Savings Analysis on file with the Successor Agency, which Debt Service Savings Analysis is hereby approved. 2. Approval of Issuance of the Bonds. The Successor Agency hereby authorizes and approves the issuance of the Refunding Bonds under the Law and the Refunding Law in the aggregate principal amount of not to exceed $23,000,000, provided that the Refunding Bonds are in compliance with the Savings Parameters at the time of sale and delivery. The Refunding Bonds may be issued as a single issue, or from time to time, in separate series, each of which may be issued on a taxable or tax-exempt basis, as the Successor Agency shall determine is necessary to comply with Federal tax laws. The approval of the issuance of the Refunding Bonds by the Successor Agency and the Oversight Board shall constitute the approval of each and every separate series of Refunding Bonds and the sale of the Refunding Bonds. RESOLUTION NO.2017-008 SA 2