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Resolution to Issue Bonds related to the Warner Industrial <br />Community Assessment District <br />June 21, 2016 <br />Page 6 <br />FINANCING COSTS <br />Capitalized Interest <br />$216,456 <br />Bond Discount <br />$60,700 <br />Reserve Fund <br />$285,750 <br />Other Legal Expenses <br />$15,000 <br />Land Market Value Appraisal <br />$20,000 <br />Subtotal — Financing Costs <br />$597,906 <br />TOTAL COST OF ISSUANCE /FINANCING COSTS <br />$859,916 <br />Expenditures made for issuance or financing that are less than the estimated amounts in the <br />table above shall be proportionally credited to the property assessments. Additionally, please <br />note the estimated Cost of Issuance (COI) and Financing Costs totaling $859,916 was as of May <br />31, 2016 and indicated in the draft Preliminary Offering Statement (POS). However, as of June <br />3, 2016 the City has received a revised estimate of COI and Financing Costs in the amount of <br />$436,301. The amounts provided are estimates and the actual amounts to be incurred will be <br />finalized at the time of issuance and will be reflected in the corresponding bond documents <br />including but not limited to the POS. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy B (equitably maintain existing streets and associated assets in a state of good <br />repair so they are clean, safe, and aesthetically pleasing for all users), and Strategy G (develop <br />and implement the City's Capital Improvement Program in coordination with the Community <br />Investment Plan [e.g., neighborhood streets, traffic improvements, etc.]). <br />Approval of this item supports the City's efforts to meet Goal #6 - Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy B (equitably maintain existing streets and associated assets in a state of good <br />repair so they are clean, safe and aesthetically pleasing for all users) and Strategy G (develop <br />and implement the City's Capital Improvement Program in coordination with the Community <br />Investment and Deferred Maintenance Plans). <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the recommended actions are <br />exempt from further review. Categorical Exemption Environmental Review No. 2016 -59 was filed <br />for this project, and a Certification of Categorical Exemption and Statutory Worksheet have been <br />prepared in accordance with the National Environmental Policy Act. <br />FISCAL IMPACT <br />All actions noted below will by reflected during FY 2016 -17 at the time of bond closing /issuance: <br />55B -6 <br />