RES 87418 - Laserfiche WebLink

$8,230,000* 1987 CERTIFICATES OF PARTICIPATION Evidencing and Representing a Fractional Undivided Interest of the Owners Thereof in Base Rental Payments to be Made by the CITY OF PLEASANTON to CITY OF PLEASANTON PUBLIC FACILITIES CORPORATION For Capital Projects I and II INTRODUCTION This Official Statement, including the cover page and the appendices, sets forth certain information in connection with the offering of 1987 Certificates of Participation for Capital Projects I and II (the "Certificates") in the aggregate principal amount of $8,230,000,, evidencing and representing fractional undivided interests of the registered owners (the "Owners") thereof in base rental payments (the "Rental Payments") to be made by the City of Pleasanton (the "City") to City of Pleasanton Public Facilities Corporation (the "Lessor") as rental for certain facilities (as described herein) to be used by the City pursuant to a Facility Lease, dated as of October 1, 1987 (the "Lease"), between the City and the Lessor. The rights of the Lessor to receive payments under the Lease will be assigned to Bank of America, National Trust and Savings Association, as Trustee (the "Trustee") under an Assignment Agreement, dated as of October 1, 1987 (the "Assignment Agreement"), whereby the Lessor shall assign to the Trustee for the benefit of the Owners its rights (i) to Rental Payments payable by the City under the Lease and (ii) to enforce amounts payable upon default. In addition, under the Trust Agreement, dated as of October 1, 1987, among the City, the Trustee and the Lessor (the "Trust Agreement"), the Rental Payments are irrevocably pledged to the payment of the principal and interest represented by the Certificates. The · Certificates are being executed and delivered pursuant to the Trust Agreement and represent fractional undivided interests in the Rental Payments payable pursuant to the Lease. *Subject to change.