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Capital Project I Eminent Domain Proceedinqs <br /> <br /> Portions of the land on which Capital Project I is to be <br />constructed is privately owned. After negotiations with two of <br />the property owners failed to resolve the issue of the value of <br />such properties, the City initiated two eminent domain <br />proceedings in order to obtain immediate possession. The first <br />proceeding is entitled City of Pleasanton vs. Lawrence M. Lund, <br />et al., Alameda County Superior Court, Action No. H126261-8. <br />An order of immediate possession was granted on July 9, 1987 in <br />the Lund proceeding. The other proceeding is entitled City of <br />Pleasanton vs. Michael F. Harris, et al., Alameda County <br />Superior Court, Action No. H126981-3. An order of immediate <br />possession was granted on August 6, 1987 in the Harris <br />proceeding. <br /> <br />Neither the Lund nor Harris property owners have objected <br />to the taking of the respective properties and each have stated <br />a willingness either to sign a letter to that effect or <br />withdraw the money deposited in escrow by the City (the "Escrow <br />Fund"). Pursuant to California Code of Civil Procedures <br />Section 1255.060, such a withdrawal of money waives all claims <br />and defenses, including the right to object to the taking of <br />the property, except a claim for greater compensation. Both <br />the Lund and Harris property owners do contend that the amounts <br />deposited in the Escrow Fund are less than the fair market <br />value of the respective properties. The City does not <br />anticipate a resolution of the dispute with the property owners <br />regarding value prior to the sale and delivery of the <br />Certificates. <br /> <br /> APPROVAL OF LEGALITY <br /> <br /> At the time of the delivery of the Certificates, Orrick, <br />Herrington & Sutcliffe, San Francisco, California, Special <br />Counsel, will deliver its opinion, substantially in the form <br />attached hereto as Appendix C. Certain legal matters will be <br />passed upon for the Underwriter by Brown & Wood, San Francisco, <br />California, and for the City by the City Attorney. <br /> <br /> OTHER MATTERS <br /> <br /> This Official Statement is not to be construed as a <br />contract or agreement between the City and the purchasers or <br />any of the owners of Certificates. Any statement made in this <br />Official Statement involving matters of opinion, whether or not <br />expressly so stated, are intended merely as an opinion and not <br />as representations of fact. The information and expressions of <br /> <br /> 49 <br /> <br /> <br />