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Jones Hall Draft of March 19, 2018
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<br />PRELIMINARY OFFICIAL STATEMENT DATED __________, 2018
<br />NEW ISSUE—BOOK-ENTRY RATING: S&P: “___”
<br /> See “RATING”
<br /> In the opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, subject, however to certain qualifications described in this Official Statement, under existing law, the interest on the 2018A Bonds is excluded from gross income for federal income tax purposes and such interest is not an item of tax preference for purposes of the federal alternative minimum tax, although, in the case of tax years beginning prior
<br />to January 1, 2018, for the purpose of computing the alternative minimum tax imposed on certain corporations, such interest earned by a corporation prior to the end of its tax year in 2018 is taken into account in determining certain income and earnings. Interest on the 2018B Bonds is not intended to be exempt from federal income taxation. In the further opinion of Bond Counsel, interest on the 2018 Bonds is exempt from California personal income taxes. See “TAX MATTERS.”
<br />
<br />SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
<br />OF THE CITY OF SAN LEANDRO
<br />
<br />$_____________*
<br />ALAMEDA COUNTY - CITY OF SAN LEANDRO
<br />REDEVELOPMENT PROJECT
<br />TAX ALLOCATION REFUNDING BONDS, SERIES 2018A
<br />$_____________*
<br />ALAMEDA COUNTY - CITY OF SAN LEANDRO
<br />REDEVELOPMENT PROJECT
<br />TAX ALLOCATION REFUNDING BONDS, SERIES 2018B
<br />(FEDERALLY TAXABLE)
<br /> Dated: Delivery Date Due: September 1, as shown on the inside front cover
<br /> Purpose. The $_________ aggregate principal amount of Successor Agency to the Redevelopment Agency of the City of San Leandro Alameda
<br />County - City of San Leandro Redevelopment Project Tax Allocation Refunding Bonds, Series 2018A (the “2018A Bonds”) and the $_________
<br />aggregate principal amount of Successor Agency to the Redevelopment Agency of the City of San Leandro Alameda County - City of San Leandro
<br />Redevelopment Project Tax Allocation Refunding Bonds, Series 2018B (Federally Taxable) (the “2018B Bonds” and together with the 2018A Bonds, the
<br />“2018 Bonds”) are being issued by the Successor Agency to the Redevelopment Agency of the City of San Leandro (the “Successor Agency”) to prepay
<br />an outstanding series of bonds payable from tax increment revenue generated in the Alameda County - City of San Leandro Redevelopment Project
<br />Area (the “Project Area”).
<br /> Payments; Book-Entry. The 2018 Bonds will be delivered as fully registered bonds, registered in the name of Cede & Co. as nominee of The
<br />Depository Trust Company (“DTC”), and will be available to ultimate purchasers (“Beneficial Owners”) in the denomination of $5,000 or any integral
<br />multiple thereof, under the book-entry system maintained by DTC. Beneficial Owners will not be entitled to receive delivery of bonds representing their
<br />ownership interest in the 2018 Bonds. Semiannual interest on the 2018 Bonds due March 1 and September 1 of each year, commencing [September 1,
<br />2018], and annual principal and premium, if any, on the 2018 Bonds due on September 1 of each year, commencing September 1, 2018, will be payable
<br />by U.S. Bank National Association, as trustee (the “Trustee”), to DTC for subsequent disbursement to DTC participants, so long as DTC or its nominee
<br />remains the registered owner of the 2018 Bonds (see “THE 2018 BONDS – Book-Entry System”). See “THE 2018 BONDS.”
<br /> Security. The 2018 Bonds are payable from and secured by a pledge of Tax Revenues (as defined in this Official Statement) to be derived from
<br />the Project Area and moneys in certain funds and accounts established under the Indenture of Trust, dated as of _______ 1, 2018 (the “Indenture”), by and between the Successor Agency and the Trustee, as further described in this Official Statement. See “SECURITY FOR THE 2018 BONDS.”
<br /> Reserve Fund Surety Policy. The Successor Agency will fund a reserve fund for the 2018 Bonds by depositing with the Trustee a debt service
<br />reserve surety policy issued by __________. See “SECURITY FOR THE 2018 BONDS – Reserve Account.”
<br /> Redemption. The 2018 Bonds are subject to optional redemption and mandatory sinking account redemption prior to maturity. See “THE 2018
<br />BONDS – Redemption.”
<br /> Limited Obligations. The 2018 Bonds are special obligations of the Successor Agency and are secured by an irrevocable pledge of, and are
<br />payable as to principal, interest and premium, if any, from Tax Revenues and other funds described in this Official Statement. The 2018 Bonds, interest
<br />and premium, if any, thereon are not a debt of the City of San Leandro (the “City”), the County of Alameda (the “County”), the State of California (the
<br />“State”) or any of their political subdivisions except the Successor Agency, and none of the City, the County, the State or any of their political
<br />subdivisions except the Successor Agency is liable thereon. The 2018 Bonds, interest thereon and premium, if any, are not payable out of any funds or
<br />properties other than those set forth in the Indenture. Neither the members of the Successor Agency, the Oversight Board of the Successor Agency, the
<br />County Board of Supervisors nor any persons executing the 2018 Bonds are liable personally on the 2018 Bonds.
<br />The 2018 Bonds are offered, when, as and if issued, subject to the approval of Jones Hall, A Professional Law Corporation, San Francisco, Bond
<br />Counsel to the Successor Agency. Jones Hall, A Professional Law Corporation, is also acting as Disclosure Counsel to the Successor Agency. Certain
<br />legal matters will be passed on for the Successor Agency by Meyers, Nave, Riback, Silver & Wilson, PLC and for the Underwriter by Quint & Thimmig
<br />LLP, Larkspur, California, Underwriter’s Counsel. It is anticipated that the 2018 Bonds will be available for delivery through the facilities of DTC on or
<br />about ____________, 2018.
<br /> The date of this Official Statement is ___________, 2018.
<br />________________ * Preliminary; subject to change. This Preliminary Official Statement and the information contained herein are subject to completion or amendment. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction . 102
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