2015-0391.Pdf
NEW ISSUE — BOOK-ENTRY ONLY Standard & Poor's: “AA” (Insured) / “BBB” (Underlying) (See “CONCLUDING INFORMATION — Ratings” herein) In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, Bond Counsel, under existing laws, regulations, rulings and judicial decisions, and assuming continuing compliance with covenants intended to preserve the exclusion from gross income for federal income tax purposes of interest on the 2015A Bonds, interest on the 2015A Bonds is excludable from gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the federal alternative minimum tax imposed on individuals and corporations. In the further opinion of Bond Counsel, interest on the 2015A Bonds and the 2015B Bonds is also exempt from present State of California personal income taxes. The difference between the issue price of a 2015A Bond (the first price at which a substantial amount of the 2015A Bonds of a maturity is to be sold to the public) and the stated redemption price at maturity is original issue discount. See “CONCLUDING INFORMATION – Tax Exemption” herein for a discussion of the effect of certain provisions of the Code on Owners of the 2015A Bonds. $12,560,000 $10,950,000 SUCCESSOR AGENCY TO THE SUCCESSOR AGENCY TO THE LANCASTER REDEVELOPMENT AGENCY LANCASTER REDEVELOPMENT AGENCY Combined Redevelopment Project Areas Combined Redevelopment Project Areas (Housing Programs) (Housing Programs) Tax Allocation Refunding Bonds Taxable Tax Allocation Refunding Bonds Issue of 2015A Issue of 2015B Dated: Delivery Date Due: August 1, as shown on inside cover The above-captioned Issue of 2015A bonds (the “2015A Bonds”) and Issue of 2015B bonds (the “2015B Bonds”; and together with the 2015A Bonds, the “Bonds”) will be delivered as fully registered bonds, registered in the name of Cede & Co.
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