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<br />from Tax Revenues and other funds. The 2018 Bonds, interest and premium, if any, are not a
<br />debt of the City, the County, the State or any of their political subdivisions except the Successor
<br />Agency, and none of the City, the County, the State nor any of their political subdivisions
<br />(except the Successor Agency) are liable thereon. The 2018 Bonds, interest thereon and
<br />premium, if any, are not payable out of any funds or properties other than those set forth in the
<br />Indenture. No member, officer, agent, or employee of the Successor Agency, the Oversight
<br />Board, the County Board of Supervisors or any person executing the 2018 Bonds is liable
<br />personally on the 2018 Bonds by reason of their issuance.
<br />
<br />Additional Bonds
<br />
<br />The Indenture defines “Parity Debt” as any loan, bonds, notes, advances or
<br />indebtedness payable from Tax Revenues on a parity with the 2018 Bonds as authorized by the
<br />Indenture. Upon the issuance of the 2018 Bonds, the Successor Agency will have no Parity
<br />Debt outstanding. However, the Indenture authorizes the issuance of Parity Debt by the
<br />Successor Agency in the future, subject to the conditions set forth in the Indenture, which
<br />include the limitation that Parity Debt can only be issued for refunding purposes and the
<br />condition that annual debt service on such Parity Debt is lower than annual debt service on the
<br />obligations being refunded during every Bond Year the refunded obligations would otherwise be
<br />outstanding. See “APPENDIX A – Summary of Certain Provisions of the Indenture.”
<br />
<br />Professionals Involved in the Offering
<br />
<br />Kitahata & Company, San Francisco, California, has served as municipal advisor to the
<br />Successor Agency and has advised the Successor Agency with respect to the financial
<br />structure of the refinancing and as to other financial aspects of the transaction. Payment of the
<br />fees and expenses of the municipal advisor is contingent upon the sale and delivery of the 2018 Bonds.
<br />
<br />Urban Analytics, LLC, San Francisco, California, has acted as fiscal consultant to the
<br />Successor Agency (the “Fiscal Consultant”) and advised the Successor Agency as to the
<br />taxable values and Tax Revenues projected to be available to pay debt service on the 2018
<br />Bonds as referenced in this Official Statement. The report prepared by the Fiscal Consultant is
<br />referred to as the “Fiscal Consultant’s Report” and is attached as APPENDIX B.
<br />
<br />U.S. Bank National Association, San Francisco, California, will act as Trustee with
<br />respect to the 2018 Bonds.
<br />
<br />All proceedings in connection with the issuance of the 2018 Bonds are subject to the
<br />approval of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond
<br />Counsel to the Successor Agency. Jones Hall is also acting as Disclosure Counsel. Meyers,
<br />Nave, Riback, Silver & Wilson, as City Attorney and Successor Agency counsel, will render
<br />certain opinions on behalf of the Successor Agency. Certain legal matters will be passed on for
<br />the Underwriter by Quint & Thimmig LLP, Larkspur, Californa. Payment of the fees and expenses of Bond Counsel, Disclosure Counsel and Underwriter’s Counsel is contingent upon
<br />the sale and delivery of the 2018 Bonds.
<br />
<br />Further Information
<br />
<br />Brief descriptions of the Redevelopment Law, the Dissolution Act, the Refunding Law,
<br />the 2018 Bonds, the Indenture, the Successor Agency, the Former Agency and the City are
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