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File Number: 20-593 <br />same period. <br />In accordance with Government Code Section 5852.1, the following good-faith estimates are <br />provided to the City Council regarding the financing: <br />·The estimated true interest cost of the Agreement (being the rate necessary to discount <br />the amounts payable on the respective principal and interest payment dates to the <br />purchase price received for the Agreement) is approximately 2.0%. <br />·The estimated finance charge of the Agreement (being the sum of all fees and charges <br />paid to third parties) is approximately $20,000. <br />·The estimated amount of proceeds expected to be received by the City, less the finance <br />charges described above paid from the principal amount of the Agreement is <br />approximately $7,624,924. There are no reserve funds or capitalized interest being paid <br />or funded with the Agreement. <br />·The estimated total payment amount (being the sum of principal and interest paid to final <br />maturity, plus any financing costs not paid from proceeds of the Agreement) is <br />approximately $8,893,876. <br />The foregoing good-faith estimates are based on the interest rate and amortization schedule <br />provided to the City by the Bank. <br />Budget Authority <br />City of San Leandro Charter <br />Attachments: <br />·City of San Leandro Resolution Authorizing the Execution and Delivery of an Equipment <br />Lease/Purchase Agreement with Respect to the Acquisition, Financing and Leasing of <br />Certain Equipment for the Public Benefit; Authorizing the Execution and Delivery of <br />Documents Required in Connection Therewith; and Authorizing the Taking of All Other Actions <br />Necessary to the Consummation of the Transactions Contemplated by this Resolution. <br />·The following financing documents (in substantially final form): <br />o Equipment Lease/Purchase Agreement <br />o Escrow and Account Control Agreement <br />o Memorandum of Understanding <br />CONCLUSION <br />Staff recommends that City Council approve the resolution and authorize execution of all <br />documents required to finance the energy-efficiency improvements at the WPCP on the terms <br />proposed by Banc of America Public Capital Corp. <br />PREPARED BY: Susan Hsieh, Director, Finance Department <br />Page 4 City of San Leandro Printed on 12/30/2020 <br />278