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8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />17 <br />18 <br />19 <br />20 <br />21 <br />moneys of the Local Agency attributable to Fiscal Year 1998-1999 and available for the <br />Payment of the principal of the Note and the interest thereon; <br />WHEREAS, no money has heretofore been borrowed by or on behalf of the Loca <br />Agency through the issuance of tax anticipation notes or temporary notes in anticipation p n of <br />the receipt of, or payable from or secured by, taxes, income, revenue, cash receipts or other <br />moneys for Fiscal Year 1998-1999; <br />WHEREAS, pursuant to Section 53856 of the Act, certain moneys which will be received <br />by the Local Agency during and attributable to Fiscal Year 1998-1999 can be pledged for the <br />payment of the principal of the Note and the interest thereon (as hereinafter provided); <br />WHEREAS, the Local Agency has determined that it is in the best interests of the Local <br />Agency to participate in the California Communities Cash Flow Financing th Program 9 (the <br />"Program"), whereby participating local agencies (collectively, the "Issuers") will simultaneously <br />issue tax and revenue anticipation notes; <br />WHEREAS, the Program requires the participating Issuers to sell their tax and revenue <br />"Authority") <br />notes to the California Statewide Communities Development Authority (the <br />Authority") pursuant to note purchase agreements (collectively, "Purchase Agreements"), each <br />between such individual Issuer and the Authority, and dated as of the date of the Pricing <br />Confirmation, a form of which has been submitted to the Legislative Body; <br />WHEREAS, the Authority, in consultation with Sutro & Co. Incorporated, as financia <br />22 " l <br />advisor for the Program (the "Financial Advisor"), will form one or more pools of notes (the <br />Pooled Notes) and assign each note to a particular pool 23 p (the "Pool") and sell a serves (the <br />"Series") of bonds (the "Bonds") secured by each Pool pursuant to an indenture (the "Indenture" <br />24 between the Authority and U.S. Trust Company of California <br />25 a, N.A., as trustee (the 'Trustee"), <br />each Series d' t' <br />26 <br />27 <br />28 <br />rs mguished by whether or what types) of Credit Instrument(s) (as hereinafter <br />efined) secure(s) such Series, by the principal amounts of the notes assigned to the Pool or by <br />2 <br />