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i <br />TABLE OF CONTENTS <br /> Page <br />INTRODUCTION ............................................... 1 <br />FINANCING PLAN ............................................ 3 <br />The Project .................................................... 3 <br />Estimated Sources and Uses of Funds ......... 3 <br />THE 2026 BONDS ............................................ 4 <br />Authority for Issuance .................................... 4 <br />General Bond Terms ..................................... 4 <br />Redemption* .................................................. 5 <br />Registration, Transfer and Exchange ............ 8 <br />SECURITY FOR THE 2026 BONDS ............... 10 <br />General; Limited Obligation ......................... 10 <br />Installment Payments; Pledge of Net <br />Revenues ................................................ 10 <br />Receipt and Use of Gross Revenues under <br />Installment Sale Agreement .................... 11 <br />Receipt and Use of Revenues under <br />Indenture ................................................. 12 <br />No Reserve Fund ........................................ 13 <br />Rate Stabilization Fund ............................... 13 <br />Rate Covenants under Installment Sale <br />Agreement ............................................... 13 <br />Parity Debt ................................................... 14 <br />No Senior Debt ............................................ 15 <br />Casualty Insurance and Eminent Domain <br />Proceeds ................................................. 16 <br />THE AUTHORITY AND THE CITY ................. 17 <br />The Authority ............................................... 17 <br />The City ....................................................... 17 <br />City Pension Plans and OPEB .................... 17 <br />THE WATER SYSTEM ................................... 23 <br />General ........................................................ 23 <br />Service Area ................................................ 23 <br />Physical Assets ........................................... 23 <br />Management ................................................ 24 <br />Sources of Water Supply ............................. 25 <br />Regulatory Requirements ............................ 26 <br />Historical Water Supply ............................... 30 <br />Customer Base ............................................ 30 <br />Water Rates and Revenues ......................... 31 <br />Billing and Collection ................................... 34 <br />Capital Improvement Program ..................... 35 <br />Outstanding Indebtedness ........................... 36 <br />Funds and Reserves .................................... 36 <br />Pro Forma Debt Service Coverage .............. 38 <br />BOND OWNERS’ RISKS ................................. 41 <br />Revenues; Rate Covenant ........................... 41 <br />No Debt Service Reserve Fund ................... 41 <br />Maintenance and Operation Costs; Third- <br />Party Sources of Water Supply ............... 41 <br />Limitations on Remedies Available to Bond <br />Owners .................................................... 41 <br />Seismic and other Natural Disasters; Climate <br />Change .................................................... 42 <br />Loss of Tax-Exemption ................................ 43 <br />Proposition 218 ............................................ 43 <br />Environmental Regulation ............................ 44 <br />Cybersecurity ............................................... 45 <br />Secondary Market for Bonds ....................... 45 <br />Future Parity Debt ........................................ 45 <br />TAX MATTERS ................................................ 46 <br />CERTAIN LEGAL MATTERS .......................... 47 <br />NO MATERIAL LITIGATION ........................... 47 <br />RATING ........................................................... 48 <br />CONTINUING DISCLOSURE .......................... 48 <br />UNDERWRITING ............................................ 49 <br />MUNICIPAL ADVISOR .................................... 49 <br />EXECUTION .................................................... 49 <br /> <br /> <br />APPENDIX A: SUMMARY OF CERTAIN PROVISIONS OF THE PRINCIPAL LEGAL DOCUMENTS <br />APPENDIX B: AUDITED FINANCIAL STATEMENTS OF THE CITY <br /> FOR THE FISCAL YEAR ENDED JUNE 30, 2025 <br />APPENDIX C: FORM OF CONTINUING DISCLOSURE CERTIFICATE <br />APPENDIX D: GENERAL INFORMATION ABOUT THE CITY OF PLEASANTON AND THE COUNTY <br />OF ALAMEDA <br />APPENDIX E: FORM OF OPINION OF BOND COUNSEL <br />APPENDIX F: DTC AND THE BOOK-ENTRY ONLY SYSTEM <br /> <br />Page 128 of 205