Laserfiche WebLink
The City is entering into the Lease to provide financing <br />for the construction of a water reservoir, with connecting <br />pipeline ("Capital Project I") and the acquisition of an <br />existing office building ("Capital Project II"; collectively, <br />"the Project"). Capital Project I will be constructed by the <br />City on behalf of the Lessor by an independent contractor. <br />Upon completion of the full term of the Lease, title to the <br />Project will vest in the City. See "THE PROJECT." <br /> <br /> In general, the City is required to pay to the Trustee all <br />of the Rental PaymenTs required under The Lease, subject to <br />completion of construction of Capital Project [ and subject to <br />complete or partial abatement of such Rental Payments resulting <br />from substantial interference with the use and possession by <br />the City of the Project caused by material damage, destruction <br />or condemnation of the Project. See "RISK FACTORS" and <br />"APPENDIX B - SUMMARIES OF DOCUMENTS." Under the Lease, the <br />City is also required to pay any taxes, assessments, insurance <br />premiums or maintenance and repair costs in connection with the <br />Project. The City has also covenanted in the Lease to take <br />such action as may be necessary to include the Rental Payments <br />in its annual budgets and To make the necessary annual <br />appropriations therefor. For certain financial information <br />with respect to the City, see "CITY OF PLEASANTON FINANCIAL <br />INFORMATION" and "APPENDIX A." <br /> <br /> THE CERTIFICATES <br /> <br />General Provisions <br /> <br /> The Certificates are being executed and delivered in the <br />aggregate principal amount of $8,230,000.* The Certificates <br />are deliverable in fully registered form in denominations of <br />$5,000 or integral multiples thereof (not exceeding the <br />principal amount maturing in any one year). Certificates will <br />be dated the April 1 or October 1 (a "Payment Date") next <br />preceding the date of delivery thereof by the Trustee, unless <br />such date of delivery is a day during the period from and <br />including the 16th day of the month next preceding any Payment <br />Date to and including such Paymen~ Date, in which case the date <br />thereof will be such Payment Date, or unless such date of <br />delivery is on Or before March 15, 1988, in which case the date <br />thereof will be October 1, 1987. <br /> <br />*Subject to change. <br /> <br /> 2 <br /> <br /> <br />