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Resolution Authorizing the Refunding <br />of 2003 A & B and 2011 Tax Allocation Bonds <br />July 17, 2018 <br />Page 3 <br />FISCAL IMPACT <br />All costs associated with this transaction will be paid at closing with proceeds from the refunding <br />2018 Bonds. The proposed 2018 Bonds will generate an estimated total debt service savings of <br />$18.6 million net of all costs related to the issuance of the debt. An estimated 20% of the savings <br />will be obtained in the City's General Fund with the balance going to the local school district and <br />other governmental entities. <br />Steven Mendoza Francisco Gutierrez <br />Executive Director Executive Director <br />Community Development Agency Finance and Management Services Agency <br />Exhibits: 1. Successor Agency Resolution <br />2. Indenture of Trust <br />3. Bond Purchase Agreement <br />4. Continuing Disclosure Certificate <br />5. Escrow Agreement <br />6. Savings Analysis <br />SA -3-3 <br />