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14-0191 So CA Pub Power Authority OS.Xps

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14-0191 So CA Pub Power Authority OS.Xps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maturity Schedules $151,880,000 Apex Power Project, Revenue Bonds, 2014 Series A (Tax-Exempt) Due Principal Interest July 1 Amount Rate Yield CUSIP 2030 $10,015,000 5.000% 3.510%(1) 84247PHF1 2031 14,855,000 5.000 3.630(1) 84247PHG9 2032 15,600,000 5.000 3.720(1) 84247PHH7 2033 16,380,000 5.000 3.790(1) 84247PHJ3 2034 17,200,000 5.000 3.850(1) 84247PHK0 2035 18,055,000 5.000 3.890(1) 84247PHL8 2036 18,960,000 5.000 3.920(1) 84247PHM6 2037 19,910,000 5.000 3.940(1) 84247PHN4 2038 20,905,000 5.000 3.960(1) 84247PHP9 $166,980,000 Apex Power Project, Revenue Bonds, 2014 Series B (Federally Taxable) Due Principal Interest July 1 Amount Rate Price CUSIP 2015 $ 9,335,000 0.446% 100% 84247PHQ7 2016 9,375,000 0.646 100 84247PHR5 2017 9,435,000 1.145 100 84247PHS3 2018 9,545,000 1.728 100 84247PHT1 2019 9,710,000 2.178 100 84247PHU8 2020 9,920,000 2.638 100 84247PHV6 2021 10,185,000 2.988 100 84247PHW4 2022 10,490,000 3.258 100 84247PHX2 2023 10,830,000 3.458 100 84247PHY0 2024 11,205,000 3.608 100 84247PHZ7 2025 11,610,000 3.758 100 84247PJA0 2026 12,045,000 3.938 100 84247PJB8 2027 12,520,000 4.108 100 84247PJC6 2028 13,035,000 4.208 100 84247PJD4 2029 13,585,000 4.308 100 84247PJE2 2030 4,155,000 4.408 100 84247PJF9 _________________________ CUSIP is a registered trademark of The American Bankers Association. The CUSIP data herein are provided by CUSIP Global Services, managed by Standard & Poors Financial Services LLC on behalf of The American Bankers Association. These data are not intended to create a database and do not serve in any way as a substitute for the CUSIP Services. Neither the Authority nor the Underwriters are responsible for the selection or correctness of the CUSIP numbers set forth herein. (1) Priced at the stated yield to the July 1, 2024 optional redemption date at a redemption price of 100%. SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY BOARD OF DIRECTORS Dukku Lee (Anaheim) Stephen M. Zurn (Glendale) George Morrow (Azusa) Kevin E. Kelley (Imperial) Fred H. Mason (Banning) Marcie L. Edwards (Los Angeles) Ronald E. Davis (Burbank) Phyllis E. Currie (Pasadena) Art Gallucci (Cerritos) Girish Balachandran (Riverside) David X. Kolk (Colton) Carlos Fandino (Vernon) MANAGEMENT Ronald E. Davis President Fred H. Mason Vice President [vacant] Secretary Phyllis E. Currie Assistant Secretary Mario C. Ignacio Assistant Secretary Bill D. Carnahan Executive Director, Treasurer/Auditor Robert K. Rozanski Interim Director of Finance & Accounting Richard J. Morillo General Counsel Daniel S. Hashimi Assistant General Counsel PROJECT PARTICIPANT Department of Water and Power of The City of Los Angeles TRUSTEE AND PAYING AGENT FINANCIAL ADVISOR U.S. Bank National Association Public Financial Management, Inc. Los Angeles, California Los Angeles, California CO-BOND COUNSEL Fulbright & Jaworski LLP Los Angeles, California and Curls Bartling P.C. Oakland, California No dealer, broker, salesperson or other person has been authorized by the Authority or by the Underwriters to give any information or to make any representations, other than as contained in this Official Statement, and if given or made such other information or representations must not be relied upon as having been authorized by the Authority or the Underwriters. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the 2014 Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. This Official Statement is not to be construed as a contract with the purchasers of the 2014 Bonds. Statements contained in this Official Statement that involve estimates, forecasts or matters of opinion, whether or not expressly described herein, are intended solely as such and are not to be construed as representations of fact. The information set forth herein has been furnished by the Authority and the Project Participant, and includes information obtained from other sources which are believed to be reliable. The information and expressions of opinion contained herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Authority or the Project Participant since the date hereof. The Underwriters have provided the following sentence and paragraph for inclusion in this Official Statement: The Underwriters have reviewed the information in this Official Statement in accordance with, and as part of, their responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriters do not guarantee the accuracy or completeness of such information. IN CONNECTION WITH THE OFFERING OF THE 2014 BONDS, THE UNDERWRITERS MAY OVERALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICES OF THE 2014 BONDS AT LEVELS ABOVE THOSE WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. Certain statements included or incorporated by reference in this Official Statement constitute forward-looking statements. Such statements are generally identifiable by the terminology used such as plan, project, expect, anticipate, intend, believe, estimate, budget or other similar words. The achievement of certain results or other expectations contained in such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements described to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Authority does not plan to issue any updates or revisions to those forward-looking statements if or when its expectations or events, conditions or circumstances on which such statements are based occur or fail to occur. This Official Statement, including any supplement or amendment hereto, is intended to be filed with the Municipal Securities Rulemaking Board through the Electronic Municipal Marketplace (EMMA) website. The Authority and the Project Participant each maintains a website. However, the information presented therein is not part of this Official Statement and should not be relied upon in making investment decisions with respect to the 2014 Bonds. TABLE OF CONTENTS Page INTRODUCTION ....................................................................................................................................... 1 Purpose; Authority for Issuance ...................................................................................................... 1 The Authority and the Project Participant ....................................................................................... 2 The Project ...................................................................................................................................... 2 Power Sales Agreement .................................................................................................................. 3 Security and Sources of Payment for the 2014 Bonds .................................................................... 4 Continuing Disclosure Undertaking ............................................................................................... 4 Certain Information; Summaries and References to Documents .................................................... 4 PLAN OF FINANCE ................................................................................................................................... 5 ESTIMATED SOURCES AND USES OF FUNDS ................................................................................... 5 DEBT SERVICE REQUIREMENTS .......................................................................................................... 5 DESCRIPTION OF THE 2014 BONDS ..................................................................................................... 6 General ............................................................................................................................................ 6 Redemption Provisions ................................................................................................................... 6 BOOK-ENTRY ONLY SYSTEM ..............................................................................................................
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