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55A - RESO - GAS TAX BONDS
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11/05/2019
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55A - RESO - GAS TAX BONDS
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Last modified
10/30/2019 12:55:49 PM
Creation date
10/30/2019 11:40:51 AM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
11/5/2019
Destruction Year
2024
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among the Authority, the City and the Escrow Bank. Amounts so deposited will be held uninvested by the Escrow <br />Bank and will be sufficient to prepay the 2007 Certificates on [December 20]. <br />Estimated Sources and Uses of Funds <br />The estimated sources and uses of funds relating to the Bonds are as follows: <br />Sources: <br />Principal Amount of Bonds <br />Original Issue Premium/Discount <br />Released Funds Relating to the 2007 Certificates <br />TOTAL SOURCES <br />Uses: <br />Deposit to Escrow Fund <br />Deposit to Costs of Issuance Fund o <br />TOTAL USES <br />0) Costs of Issuance include legal fees, fees of the Municipal Advisor, underwriter's discount, bond <br />insurance and reserve surety premiums, printing costs, rating agency fees and other miscellaneous <br />expenses. <br />DEBT SERVICE SCHEDULE <br />Annualized debt service on the Bonds assuming no optional redemption is presented below. <br />Bond Year <br />Ending <br />June I <br />Authority for Issuance <br />Principal of Interest of Total Bond <br />Bonds Bonds Debt Service <br />THE BONDS <br />The Bonds are authorized pursuant to the provisions of Sections 53570 et seq. and 53580 et seq. of the <br />California Government Code, a resolution adopted by the City Council of the City on [November 5], 2019, and <br />the Indenture. <br />General Provisions <br />Bond Terms. The Bonds will be dated their date of delivery and issued in fully registered form without <br />coupons in denominations of $5,000 or any integral multiple of $5,000, so long as no Bond has more than one <br />maturity date. The Bonds will mature in the amounts and on the dates, and bear interest at the rates per annum, <br />set forth on the inside cover page of this Official Statement. <br />Payments of Principal and Interest. Interest on the Bonds will be payable on January 1 and July 1 in <br />each year, beginning [July 1, 2020] (each an "Interest Payment Date") to the person whose name appears on the <br />Bond Registration Books as the Owner thereof as of the fifteenth (15th) calendar day of the month immediately <br />preceding an Interest Payment Date (the "Record Date"). While the Bonds are subject to the book -entry system, <br />the principal, interest and any prepayment premium with respect to a Bond will be paid by the Trustee to DTC for <br />subsequent disbursement to beneficial owners of the Bonds. <br />55A-90 <br />
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