2016 11 01 SA Special�z
NOTICE OF SPECIAL MEETING
OF THE SUCCESSOR AGENCY TO THE LA QUINTA
REDEVELOPMENT AGENCY
TO THE MEMBERS OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT
AGENCY AND TO THE CITY CLERK/AGENCY SECRETARY:
NOTICE IS HEREBY GIVEN that a special meeting of the City of La Quinta as
Successor Agency is hereby called to be held on November 1, 2016 at 4:00 p.m. at La
Quinta City Hall, Council Chambers, 78495 Calle Tampico, La Quinta, CA 92253 for the
following purpose:
1. APPROVE MINUTES OF SEPTEMBER 20, 2016
2. APPROVE AMENDED AGREEMENTS WITH HARRELL AND COMPANY ADVISORS,
LLC., AS MUNICIPAL ADVISOR AND NORTON ROSE FULLBRIGHT US LLP, AS
DISCLOSURE COUNSEL IN CONNECTION WITH 2016 BOND FINANCING FEES
FOR SERVICES
Dated: October 26, 2016
Attest:
Susan Maysels
City Clerk / Agency Secretary
/s/ f inda Evans
Linda Evans, Chairperson
Digitally signed by Susan Maysels
DN: serialNunn1ber=j4r7lllgl ppsr45f, c=US, st=California,
I=La Quinta, o=Susan Maysels, cn=Susan Maysels
Date: 2016.10.26 12:37:39 -07'00'
DECLARATION OF POSTING
I, Susan Maysels, City Clerk/Agency Secretary, do hereby declare that the foregoing agenda for
the City of La Quinta as Successor Agency to the La Quinta Redevelopment Agency meeting of
November 1, 2016 was posted on the outside entry to the Council Chamber at 78-495 Calle
Tampico and on the bulletin boards at the La Quinto Cove Post Office at 51-321 Avenida
Bermudas and the Stater Brothers Supermarket at 78-630 Highway 111 on October 28, 2016.
DATFD- Ortnhpr M M16
Digitally signed by Susan Maysels
DN: ser!alNunnber=j4r7lllg1 ppsr45f, c=US, st=California, I=La
Quinta, o=Susan Maysels, cn=Susan Maysels
Susan Maysels, City Clerk/Agency
Date: 2016.10.26 12:38:04 -07'00'
Secretary
City of La Quinta
SUCCESSOR AGENCY TO LA QUINTA RDA 1 NOVEMBER 1, 2016
NOTICE OF SPECIAL MEETING
Successor Agency agendas and staff
Reports ore now available on the City's
web page: wwmla-quint ".or
SUCCESSOR AGENCY
To The La Quinta Redevelopment Agency
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
SPECIAL MEETING
TUESDAY. NOVEMBER 1. 2016 AT 4:00 P.M.
CALL TO ORDER
ROLL CALL: Agency Members: Franklin Osborne, Pe�a, Radi, Chairperson Evans
CLOSED SESSION - NONE
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Successor Agency on any matter not listed
on the agenda. Please complete a "request to speak" form and limit -your comments to three
minutes. The Successor Agency values your comments; however in accordance with State low,
no action shot[ be taken on any item not appearing on the agenda unless it is an emergency
item authorized by GC 54954.2(b).
CONFIRMATION OF AGENDA
ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS - NONE
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
PAGE
1. APPROVE MINUTES OF SEPTEMBER 20, 2016 _3
2. APPROVE AMENDED AGREEMENTS WITH HARRELL AND COMPANY
ADVISORS, LLC., AS MUNICIPAL ADVISOR AND NORTON ROSE
FULLBRIGHT US LLP, AS DISCLOSURE COUNSEL IN CONNECTION
WITH 2016 BOND FINANCING FEES FOR SERVICES
SUCCESSOR AGENCY TO RDA AGENDA I NOVEMBER 1, 2016
SPECIAL MEETING
BUSINESS SESSION - NONE
STUDY SESSION - NONE
PUBLIC HEARINGS - NONE
DEPARTMENTAL REPORTS - NONE
CHAIR AND BOARD MEMBERVITEMS
REPORTS AND INFORMATIONAL ITEMS - NONE
ADJOURNMENT
For information about the next special meeting of the City as Successor Agency to the
Lo Quinto Redevelopment Agency, please contact the City Clerk's Office at 760-777-
7103.
DECLARATION OF POSTING
I, Susan Maysels, Agency Secretary of the City of Lo Quinta as Successor Agency to the
Lo Quinto Redevelopment Agency, do hereby declare that the foregoing agenda was
posted near the entrance to the Council Chambers at 78-495 Calle Tampico and on the
bulletin boards at the La Quinta Cove Post Office at 51-321 Avenida Bermudas and the
Stater Brothers Supermarket at 78-630 Highway 111, on October 28, 2016.
DATED: October 28, 2016
SUSAN MAYSELS, Agency Secretary
Successor Agency to the
La Quinta Redevelopment Agency
Public Notices
• The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing
impaired, please call the City Clerk's Office at 777-7103, twenty-four (24) hours in advance of the meeting and
accommodations will be made.
• If special electronic equipment is needed to make presentations to the Successor Agency, arrangement should
be made in advance by contacting the City Clerk's Office at 777-7103. A one (1) week notice is required.
• If background material is to be presented to the Successor Agency during a meeting, please be advised that
eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested
that this take place prior to the beginning of the meeting.
Any writings or documents provided to a majority of the Successor Agency regarding any item on this agenda
will be made available for public inspection at the City Clerk counter at City Hall located at 78-495 Calle Tampico,
La Quinta, California, 92253, during normal business hours.
SUCCESSOR AGENCY TO RDA AGENDA 2 NOVEMBER 1, 2016
SPECIAL MEETING
CONSENT CALENDAR ITEM NO. 1
SUCCESSOR AGENCY TO THE
LA QUINTA REDEVELOPMENT AGENCY
MINUTES
TUESDAY. SEPTEMBER 20. 2016
A regular meeting of the La Quinta City Council in their capacity as Successor Agency
to the La Quinta Redevelopment Agency (SA) was called to order at 7:24 pm by
Chairperson Evans.
PRESENT: Agency Members Franklin, Osborne, PeFia, Radi, Chair Evans
ABSENT: None.
CLOSED SESSION - None
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA - None
CONFIRMATION OF AGENDA - Confirmed
9.11 *14,11kil-A 1191&V-'1'1N11 PILTAR I a 1 (W-11 1191ZRMONFOW
CONSENT CALENDAR
1. APPROVE MINUTES OF JULY 5, 2016
2. ADOPT RESOLUTION APPROVING THE PRELIMINARY OFFICIAL STATEMENT IN
CONNECTION WITH 2016 TAX ALLOCATION REFUNDING BONDS �RESOLUTION NO.
SA 2016-0051
MOTION - A motion was made and seconded by Agency Members Osborne/Radi to
approve the Consent Calendar as recommended, with Consent Calendar Item No. 2
adopting Resolution No. SA 2016-005. Motion passed unanimously.
BUSINESS SESSION - None
STUDY SESSION - None
PUBLIC HEARINGS - None
DEPARTMENTAL REPORTS - None
CHAIR AND BOARD MEMBERS'ITEMS - None
REPORTS AND INFORMATIONAL ITEMS - None
CITY AS SUCCESSOR AGENCY TO RDA I
SPECIAL MEETING
SEPTEMBER 20, 2016
3
ADJOURNMENT
There being no further business, it was moved and seconded by Agency Members
Franklin/Radi to adjourn at 7:25 p.m. Motion passed unanimousty.
Respectfully submitted,
MONIKA RADEVA, Deputy Agency Secretary
Successor Agency to the dissolved
La Quinta Redevelopment Agency
CITY AS SUCCESSOR AGENCY TO RDA 2 SEPTEMBER 20, 2016
SPECIAL MEETING
CONSENT CALENDAR ITEM NO. 2
City of La Quinta
SUCCESSOR AGENCY MEETING: November 1, 2016
STAFF REPORT
AGENDA TITLE: APPROVE AMENDED AGREEMENTS WITH HARRELL AND COMPANY ADVISORS,
LLC, AS MUNICIPAL ADVISOR AND NORTON ROSE FULLBRIGHT US LLP, AS DISCLOSURE
COUNSEL IN CONNECTION WITH 2016 BOND FINANCING FEES FOR SERVICES
RECOMMENDATION
Approve Amended Agreements with Harrell and Company Advisors, LLC, as Municipal
Advisors and Norton Rose Fulbright US LLP, as Disclosure Council in connection with 2016
Bond financing fees and authorize the City Manager to execute the agreements.
EXECUTIVE SUMMARY
These Agreements are being amended due to Attorney General Opinion No. 12-409
and recent case, Davis vs. Fresno Unified School District, addressing contingent fees.
The current Agreements include fees contingent on the successful completion of the
bond financing; the Amended Agreements have removed the contingent language,
however, the fees remain unchanged.
With the upgrade in bond rating from an A+ to AA-, the bond insurance premium that
was previously budgeted is not required. There is no anticipated loss in savings due
to delays in marketing and there is no foreseeable reason why the financing cannot
be successfully marketed in the next two weeks.
4 181 Jlff4u
Fees for services are not contingent on successful delivery of the Bonds and are as follows:
Harrell and Company Advisors - $15,000 for preparation of Tax Revenue/RPTTF
Projections and Project Area statistical information suitable for inclusion in the
official statement and meeting rating agency; $25,000 for all other financial
advisory services in connection with Refunding Bonds; out-of-pocket expenses
not to exceed $1,500.
0 Norton Rose Fulbright - $45,000 for services as Disclosure Counsel.
BACKGROUND/ANALYSIS
On July 5, 2016, the Successor Agency (SA) Board approved Resolution SA-2016-004
authorizing issuance and sale of subordinate tax allocation refunding bonds, and approving
the form of several financing documents. The approximately $36,640,000 of La Quinta
Redevelopment Project Areas No. 1 and 2, Subordinate Tax Allocation Refunding Bonds,
5
Taxable Series 2016A (2016 Bond) would refinance the prior Redevelopment Agency's
outstanding La Quinta Redevelopment Project Area No. 2, Subordinate Taxable Tax
Allocation Bonds, Series 2011 and the La Quinta Financing Authority, Local Agency
Subordinate Taxable Revenue Bonds, 2011 Series A (2011 Bond) to reduce annual debt
service requirements. This Resolution also approved the financing team based on proposals
from various professional groups necessary to complete the 2016 Bond financing. The
Oversight Board and the State Department of Finance subsequently approved the issuance
and sale of the 2016 Bond.
Standard and Poors (S&P) subsequently rated the 2016 Bond and upgraded the rating from
A+ (2011 Bond) to AA- (2016 Bond). The 2016 Bond was set to price on October 6; however,
the SA's bond counsel requested that pricing be delayed pending a better understanding of
the impact of Attorney General Opinion No. 12-409 and a recent case (Davis vs. Fresno
Unified School District). This opinion and case deals with contingent fees for bond sates,
and they wanted to ensure that the payment structure for the Municipal Advisor and the
Disclosure Counsel complied. The SA bond counsel subsequently determined that the
contracts for these services be amended to remove the contingent payment clause.
The risk resulting from a non -contingent fee structure is that fees will be incurred if the 2016
Bond financing was not completed. Hilltop Securities, the SA's underwriter, has indicated
that although the market has not maintained the interest rates and yields of 4 to 6 weeks
ago, the savings on the refinancing are still expected to be $750,000 annually and in excess
of $14,750,000 over the twenty-three year term of these bonds. When the SA approved this
sale in July 2016, the savings were projected to be $614,000 annually or $12.82 million over
theterm (the overall improvement is due to the better than anticipated S&P credit rating).
In a worst -case scenario (the bonds are not sold and bond proceeds fund issuance costs),
the fees would be paid and added to the SA Recognized Obligation Payments as recognized
obligations for future reimbursement.
ALTERNATIVES
Staff does not recommend an alternative.
Prepared by: Gil Villalpando, Management Specialist
Approved by: Frank J Spevacek, City Manager
Attachments: 1. Agreement - Harrell & Company Advisors, LLC
2. Agreement - Norton Rose Fulbright US LLP
FT
ATTACHMENT 1
October 12, 2016
Frank Spevacek
City Manager
City of La Quinta as Successor Agency to the La Quinta Redevelopment Agency
78- 495 Calle Tampico
La Quinta, CA 92253
RE: Arnended Proposal for Financial Advisory Services
Dear Frank:
In May 2016, 1 provided a proposal for financial advisory services in connection with the Successor
Agency to La Quinta Redevelopment Agency's Tax Allocation Refunding Bonds ("Refunding
Bonds"). The Refunding Bonds will refinance the former Redevelopment Agency's $6,000,000 La
Quinta Redevelopment Project Area No. 2, Subordinate Taxable Tax Allocation Bonds, Series 2011
and 2011 Loan Obligation relating to the La Quinta Financing Authority's Local Agency Subordinate
Taxable Revenue Bonds, 2011 Series A. The anticipated bond size is expected to be $35 million.
Due to circumstances which require a change in our compensation method, we are amending our
proposal to provide for payment of our fee not contingent on the bond closing. This change does
not relieve us of our fiduciary duty to the Successor Agency, as described herein. All other terms
remain the same, and are restated below.
Scope of Services
Harrell & Company proposes to perform the services listed below.
1 . Projected Tax Revenues/RPTTF. Prepare projections of Tax Revenues/RPTTF moneys
pledged to repay debt service and Project Area statistical information suitable for inclusion in
the Official Statement and meeting rating agency and investor criteria.
2. Bond Sizing. Review the Underwriter's proposed sizing and structure, refunding cashflows
and arrangements for defeasance escrows.
3. Prepare any materials that might be requested by the Department of Finance in connection
with the issuance of the Refunding Bonds.
4. Document Review. Review and comment on all legal documents prepared by the Successor
Agency's bond counsel to ensure conformance with the proposed financing structure.
The City Tower, 333 City Boulevard West, Suite 1430, Orange, California 92868
Tel: 714.939.1464 Fax: 714-939-1462
7
Frank Spevacek
October 12, 2016
Page 2
5. Rating Agency Meetings. Submit documents and attend meetings with rating agencies as may
be required.
6. Official Statement. Review and comment on the preliminary and final Official Statement to
be used in connection with the offering of the Refunding Bonds.
7. Pricing. For the negotiated sale with of the Refunding Bonds:
advise the Successor Agency on the propriety of the underwriter's pricing and
compensation relative to the current market conditions;
m negotiate to provide the lowest available rates and costs to the Successor Agency; and
provide the Successor Agency with a pricing analysis and comparison of its transaction
with other recent sales of comparable credit quality, or review such analysis prepared
by the Underwriter.
8. Bond Closing. Review and coordinate arrangements for closing and delivery of the Refunding
Bonds, paying particular attention to needed certificates and representations of other parties
to ensure certification of information relied upon in the financing.
9. Attendance at Meetings. Attend all meetings relating to the financing with Successor Agency
staff, bond counsel and disclose counsel as required.
Fees
The following fees are proposed for the Refunding Bonds:
A fixed fee of $15,000 for preparation of Tax Revenue/RPTTF Projections and Project Area
statistical information suitable for inclusion in the official statement and meeting rating agency
and investor criteria;
A fixed fee of $25,000 for all other financial advisory services in connection with the
Refunding Bonds as described under the scope of services; and
* Out -of pocket expenses at cost not to exceed $1,500.
Fees are not contingent on the closing of the Refunding Bonds and delivery of funds.
51
Frank Spevacek
October 12, 2016
Page 3
Municipal Advisor Disclosures Pursuant to Rule G-42
In connection with recent changes to the federal securities laws that require persons providing advice
to municipal issuers to register with the Securities and Exchange Commission (SEC) and the Municipal
Securities Rulemaking Board (MSRB), I wanted to notify you with respect to this transaction that
Harrell & Company will owe a fiduciary duty to the Successor Agency and will carry out its duties in
accordance with such duty. Simply put, this means that we owe you both a duty of loyalty and a duty
of care and that in performing services described herein, we will put the needs of the Successor Agency
ahead of our own. This standard of care is higher than that required of other financial services
providers such as underwriters.
We have determined, after exercising reasonable diligence, we have no known material conflicts of
interest that would impair our ability to provide advice to the Successor Agency in accordance with
our fiduciary duty to municipal entity clients such as the Successor Agency. To the extent any such
material conflicts of interest arise after the date of our engagement we will inform you of such conflicts
as described below.
The Successor Agency may terminate our services at any time upon written notice. If the Successor
Agency terminates our services we would expect to be reimbursed for actual out-of-pocket expenses
associated with the transaction. We may withdraw from our representation as Municipal Advisor
upon written notice to the Successor Agency subject to the fiduciary duty described above which may
require us to continue to represent the Successor Agency until an appropriate replacement is identified
which will depend on the status of the transaction.
We are registered as a "municipal advisor" pursuant to Section 15B of the Securities Exchange Act
and rules and regulations adopted by the SEC and the MSRB. As part of this registration we are
required to disclose to the SEC information regarding criminal actions, regulatory actions,
investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations
and civil litigation involving us. Pursuant to MSRB Rule G-42, we are required to disclose any legal
or disciplinary event that is material to the Successor Agency's evaluation of us or the integrity of our
management or advisory personnel.
No such event exists with respect to us.
Copies of our filings with the United States Securities and Exchange Commission can currently be
found by accessing the SEC's EDGAR system Company Search Page which is currently available at
https://www.sec.gov/edgar/searchedgar/companysearch.html and searching for either "Harrell &
Company" or for our CIK number which is 0001610917.
M
Frank Spevacek
October 12, 2016
Page 4
Very truly yours,
Suzanne Harrell
Accepted by:
Frank Spevacek, Successor Agency Executive Director
10
ATTACHMENT 2
October 24, 2016
Frank J. Spevacek
City Manager
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Dear Mr. Spevacek:
A
NORTON ROSE FULBRIGHT
Norton Rose Fulbright US LLP
555 South Flower Street
Forty -First Floor
Los Angeles, California 90071
United States
Direct line +1213 892 9320
danny.kim@nortonrosefulbrighl.com
Tel +1 213 892 9200
Fax +1213 892 9494
We are pleased to provide a proposal to serve as Disclosure Counsel to the
Successor Agency to the La Quinta Redevelopment Agency (the "Successor Agency") in
connection with the issuance of tax allocation bonds (the "Bonds") for the purpose for refunding
the 2011 Tax Allocation Bonds.
Norton Rose Fulbright US LLP (the "Firm" or "Fulbright"), which is one of the
largest law firms in the United States, has consistently been among the leading law firms in the
United States in terms of number of public finance transactions for which it has acted as bond
counsel. In 2015, Thomson Financial ranked Fulbright third nationally among all bond counsel
firms in the nation and eighth national among all disclosure counsel firrns. Our Firm recently
received the first -ever Client Choice Award as the top firm in the United States for client service.
The award is based on a survey of more than 1,000 corporate counsel nationwide. It is awarded
by the International Law Office, an official media partner of the International Bar Association
and the Association of Corporate Counsel. We are proud of this recognition of our Firm's
commitment to client service.
Attached hereto as Appendix A is a list of completed successor agency financings
since January 2013 that the Firm has participated in. We are currently working on several
suc-c-es-sor agency financings-fu vario-LIS SLiccess.or-agencies-including-the Cities of -Lancaster,
Imperial, Upland and Soledad.
Norton Rose Fulbright US LLP is a limited liability partnership registered under the laws of Texas 499895201
Norton Rose Fulbright US LLP, Norton Rose Fulbright LLP Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose
Fulbright South Africa (incorporated as Deneys Reitz, Inc ) each of which is a separate legal entity are members of Norton Rose Fulbright Verein. a
Swiss Verein Detai s of each entity with certain regulatory nformation are at noriontosefutbright.com Norton Rose Fulbright Verein helps coordinate
the activities of the members but does not itself provide legal services to clients 11
Mr. Spevacek
October 24, 2016
Page 2
Our fees for services as Disclosure Counsel will be $45,000. Our fees are not
contingent on the successful delivery of the Bonds.
You are advised that the Firm maintains Professional Errors and Omissions
insurance coverage applicable to the services which we would be rendering.
If this arrangement is satisfactory to you, please return to us a copy of this letter
executed by an authorized officer of the City.
Respectfully submitted,
Norton Rose Fulbright US LLP
By:
�IDanny Kim, Partner
Terms of Disclosure Counsel Employment
Approved This _ Day of 2016
Successor Agency to the La Quinta Redevelopment Agency
BY:
Name:
Title�
12
APPENDIX A
SUCCESSOR AGENCY REFUNDING
TRANSACTIONS SINCE 3ANUARY 2013
$27,850,000 Successor Agency to the Redevelopment Agency of the City of San Bernardino Tax
Allocation Refunding Bonds, Series 2016A (Tax -Exempt). Served as Underwriter's Counsel.
Closed April 13, 2016.
$16,030,000 Successor Agency to the Redevelopment Agency of tile City of San Bernardino Tax
Allocation Refunding Bonds, Series 2016B (Federally Taxable). Served as Underwriter's
Counsel. Closed April 13, 2016.
$14,935,000 Successor Agency to tile Coachella Redevelopment Agency Tax Allocation
Refunding bonds (Merged Project Areas) 2016 Series A. Served as Bond Counsel and
Disclosure Counsel. Closed March 2, 2016.
$9,690,000 Successor Agency to the Coachella Redevelopment Agency Taxable Tax Allocation
Refunding bonds (Merged Project Areas) 2016 Series B. Served as Bond Counsel and
Disclosure Counsel. Closed March 2, 2016.
$33,720,000 Successor Agency to the Tracy Community Development Agency 2016 Tax
Allocation Refunding Bonds. Served as Underwriter's Counsel. Closed February 9, 2016.
$4,350,000 Successor Agency to San Fernando Redevelopment Agency Tax Allocation
Refunding Bonds, Series 2016A. Served as Bond Counsel and Disclosure Counsel. Closed
February 2. 2016.
$145,080,000 Successor Agency to the Redevelopment Agency of the City of San Diego Tax
Allocation Refunding Bonds Series 2016A. Served as Underwriter's Counsel. Closed
January 28, 2016.
$30,105,000 Successor Agency to the Redevelopment Agency of the City of San Diego Tax
Allocation Reflunding Bonds Series 2016B. Served as Underwriter's Counsel. Closed
January 28, 2016.
$4,800,,000 Succesmr Ageney-to Rtaw-ley-CQmmunity-Rcdey-elopml�nt Agency Tax Allocation
Reffinding Bonds, Series 2016A. Served as Bond Counsel and Disclosure Counsel. Closed
January 27, 2016.
$19,770,000 Successor Agency to the Monrovia Redevelopment Agency Central Redevelopment
Project, Project Area No. 1, Taxable Tax Allocation Refunding Bonds, Issue of 2015A. Served
as Underwriter's Counsel. Closed December 17, 2015.
13
$3,890,000 Successor Agency to the Monrovia Redevelopment Agency Central Redevelopment
Project, Project Area No. 1, Tax Allocation Refunding Bonds, Issue of 201513. Served as
Underwriter's Counsel. Closed December 16, 2015.
$4,475,000 Successor Agency to the Auburn Development Authority 2015 Tax Allocation
Refunding Bonds (Auburn Redevelopment Project). Served as Underwriter's Counsel. Closed
October 22, 2015.
$4,475,000 Successor Agency to the Auburn Urban Development Authority 2015 Tax Allocation
Refunding Bonds (Auburn Redevelopment Project). Served as Underwriter's Counsel. Closed
October 22, 2015.
$15,055,000 Successor Agency to the Dinuba Redevelopment Agency Merged City of Dinuba
Redevelopment Project and Dinuba Redevelopment Project No. 2, As Amended Tax Allocation
Refunding Bonds Issue of 2015. Served as Underwriter's Counsel. Closed October 1, 2015.
$14,315,000 Successor Agency to the Redevelopment Agency of the City of Azusa Amended
and Restated Merged Central Business District and West End Redevelopment Project Area
Subordinate Tax Allocation Refunding Bonds, Series 2015A (Tax -Exempt). Served as
Disclosure Counsel. Closed September 23, 2015.
$16,215,000 Successor Agency to the Redevelopment Agency of the City of Azusa Amended
and Restated Merged Central Business District and West End Redevelopment Project Area
Subordinate Tax Allocation Refunding Bonds, Series 2015B (Federally Taxable). Served as
Disclosure Counsel. Closed September 23, 2015.
$23,775,000 Successor Agency to the Community Redevelopment Agency of the City of
Montebello Subordinate Tax Allocation Refunding Bonds, Series 2015A (Tax -Exempt). Served
as Bond Counsel and Disclosure Counsel. Closed August 31, 2015.
$1,405,000 Successor Agency to the Community Redevelopment Agency of the City of
Montebello Subordinate Tax Allocation Refunding Bonds, Series 2015B (Taxable). Served as
Bond Counsel and Disclosure Counsel. Closed August 31, 2015.
$52,920,000 Successor Agency to the Carson Redevelopment Agency Subordinate Tax
Allocation Refunding Bonds, 2015 Series B (Taxable). Served as Underwriter's Counsel.
Closed August 20, 2015.
S15,740,000 Merced Designated Local Authority As Successor Agency to the Redevelopment
Agenc-y-of th"ity-or Merced-Series-2-015 Tax -Allocation Refunding Bonds-.—Served-a.s
Disclosure Counsel. Closed August 6, 2015.
$8,205,000 Successor Agency to the Redevelopment Agency of the City of Rialto Tax
Allocation Housing Revenue Refunding Bonds (Merged Project Area) 2015 Series C (Taxable).
Served as Disclosure Counsel. Closed July 30, 2015.
49989520 1
14
$20,640,000 Successor Agency to the Redevelopment Agency of the City of Rialto Tax
Allocation Revenue Refunding Bonds (Merged Project Area) 2015 Series A (Tax Exempt).
Served as Disclosure Counsel. Closed July 30, 2015.
$15,290,000 Successor Agency to the Redevelopment Agency of the City of Rialto Tax
Allocation Revenue Refunding Bonds (Merged Project Area) 2015 Series B (Taxable). Served
as Disclosure Counsel. Closed July 30, 2015.
$18,925,000 Successor Agency to the Redevelopment Agency for the City of Colton Tax
Allocation Refunding Bonds, 2015 Series. Served as Bond Counsel. Closed July 29, 2015.
$23,665,000 Successor Agency for the Paramount Redevelopment Agency Redevelopment
Project Area No. I Tax Allocation Refunding Bonds, Series 2015. Served as Underwriter's
Counsel. Closed June 30, 2015.
$15,930,000 Successor Agency to the Placer County Redevelopment Agency 2015 Tax
Allocation Refunding Bonds, Series A. Served as Underwriter's Counsel. Closed June 24,
2015.
$5,140,000 Successor Agency to the Placer County Redevelopment Agency 2015 Tax Allocation
Refunding Bonds, Taxable Series B. Served as Underwriter's Counsel. Closed June 24, 2015.
$13,000,000 Successor Agency to the Lindsay Redevelopment Agency Lindsay Redevelopment
Project No. One Tax Allocation Refunding Bonds, Issue of 2015. Served as Underwriter's
Counsel. Closed June 18, 2015.
$8,985,000 Successor Agency to the South El Monte Improvement District Tax Allocation
Refunding Bonds (Merged Project Area) 2015 Series A. Served as Underwriter's Counsel.
Closed June 9, 2015.
$6,595,000 Successor Agency to the South El Monte Improvement District Tax Allocation
Refunding Bonds (Merged Project Area) 2015 Series B (Taxable). Served as Underwriter's
Counsel. Closed June 9, 2015.
$12,560,000 Successor Agency to the Lancaster Redevelopment Agency Combined
Redevelopment Project Areas (Housing Programs) Tax Allocation Refunding Bonds, Issue of
2015A. Served as Underwriter's Counsel. Closed March 25, 2015.
$10,950,000 Successor Agency to the Lancaster Redevelopment Agency Combined
Rede-velopment-Project-Areas. (Housing Programs) Taxable -Tax -Allocation Refunding -Bonds.
Issue of 2015B. Served as Underwriter's Counsel. Closed March 25, 2015.
$23,300,000 Successor Agency to the Vista Redevelopment Agency Vista Redevelopment
Project 2015 Subordinate Tax Allocation Refunding Bonds, Series A (Federally Taxable).
Served as Disclosure Counsel. Closed March 4, 2015.
499995201
15
$33,880,000 Successor Agency to the Vista Redevelopment Agency Vista Redevelopment
Project 2015 Subordinate Tax Allocation Refunding Bonds, Series B- I (Tax -Exempt). Served as
Disclosure Counsel. Closed March 4, 2015.
$1,240,000 Successor Agency to the Vista Redevelopment Agency Vista Redevelopment Project
2015 Subordinate Tax Allocation Refunding Bonds, Series B-2 (Federally Taxable). Served as
Disclosure Counsel. Closed March 4, 2015.
$15,915,000 Successor Agency to the Camarillo Community Development Commission Tax
Allocation Refunding Bonds, Series 2014 (Camarillo Corridor Project). Served as Bond
Counsel. Closed November 12, 2014.
$46,140,000 Successor Agency to the Redevelopment Agency of the City of Cathedral City Tax
Allocation Revenue Refunding Bonds, Series 2014A (Merged Redevelopment Project Area).
Served as Bond Counsel and Disclosure Counsel. Closed October 15, 2014.
$15,630,000 Successor Agency to the Redevelopment Agency of the City of Cathedral City Tax
Allocation Housing Revenue Refunding Bonds, Series 2014B (Merged Redevelopment Project
Area). Served as Bond Counsel and Disclosure Counsel. Closed October 15, 2014.
$11,985,000 Successor Agency to the Redevelopment Agency of the City of Cathedral City
Taxable Tax Allocation Housing Revenue Refunding Bonds, Series 2014C (Merged
Redevelopment Project Area). Served as Bond Counsel and Disclosure Counsel. Closed
October 15, 2014.
$9,250,000 Successor Agency to the Coachella Redevelopment Agency Subordinate Tax
Allocation Bonds (Merged Project Areas) 2014 Series. Served as Bond Counsel and Disclosure
Counsel. Closed October 15, 2014.
$16,515,000 Successor Agency to the Redevelopment Agency of the City of Rialto Tax
Allocation Refunding Bonds (Merged Project Area) 2014 Series A. Served as Disclosure
Counsel. Closed September 17, 2014.
$3,760,000 Successor Agency to the La Puente Community Development Commission Tax
Allocation Revenue Refunding Bonds, Series 2014A (La Puente Redevelopment Project) Bank
Qualified. Served as Bond Counsel. Closed August 29, 2014.
$9,735,000 Successor Agency to the City of California City Redevelopment Agency California
City Redevelopment Project Area Tax Allocation Refunding Bonds, Series 2014. Served as
Underwriter:s Counsel. Closed August 20,2014.
$15,635,000 Successor Agency to the Palm Springs Community Redevelopment Agency 2014
Subordinate Tax Allocation Refunding Bonds. Served as Disclosure Counsel. Closed
August 14, 2014.
$10,970,000 Successor Agency to the Norco Community Redevelopment Agency Norco
Redevelopment Project Area No. One Tax Allocation Refunding Bonds (School District Pass -
Through) Issue of 2014. Served as Underwriter's Counsel. Closed August 13, 2014.
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$20,525,000 Successor Agency to the Norco Community Redevelopment Agency Norco
Redevelopment Project Area No. One Tax Allocation Refunding Bonds Issue of 2014. Served as
Underwriter's Counsel. Closed August 13, 2014.
County of Los Angeles Redevelopment Refunding Authority Tax Allocation Revenue Refunding
Bonds - $33,215,000 Series 2014A (Tax-Exempo South Gate Redevelopment Project No. I
Claremont Consolidated Redevelopment Project/$ 3,92 0,000 Series 2014B (Federally Taxable)
South Gate Redevelopment Project No. 1. Served as special counsel to South Gate. Closed July
31,2014.
$6,950,000 Successor Agency to the South El Monte Improvement District Tax Allocation
Refunding Bonds (Merged Project Area) 2014 Series A. Served as Underwriter's Counsel.
Closed July 16, 2014.
$11, 125,000 Successor Agency to the Bell Gardens Community Development Commission
Second Subordinate Tax Allocation Revenue Refunding Bonds, Series 2014C (Central City
Redevelopment Area) (Taxable). Served as Bond Counsel and Disclosure Counsel. Closed
June 18, 2014.
$6,775,000 Successor Agency to the Bell Gardens Community Development Commission Tax
Allocation Revenue Refunding Bonds, Series 2014B (Central City Redevelopment Area). Served
as Bond Counsel and Disclosure Counsel. Closed June 18, 2014.
$3,555,000 Successor Agency to the Bell Gardens Community Development Commission Tax
Allocation Revenue Refunding Bonds, Series 2014A (Project No. I Redevelopment Area).
Served as Bond Counsel and Disclosure Counsel. Closed June 18, 2014.
$7,910,000 Successor Agency to the Irwindale Community Redevelopment Agency City
Industrial Development Project 2014 Tax Allocation Refunding Parity Bonds (Bank Qualified).
Served as Disclosure Counsel. Closed May 8, 2014.
$2,915,000 Successor Agency to the Irwindale Community Redevelopment Agency City
Industrial Development Project 2014 Taxable Housing Tax Allocation Refunding Parity Bonds.
Served as Disclosure Counsel. Closed May 8, 2014.
$74,3 10,000 Successor Agency to the Morgan I [ill Redevelopment Agency Refunding Revenue
Bonds Series 2013A. Served as Bond Counsel. Closed December 4, 2013.
$14,365,000 Successor Agency to the Morgan Hill Redevelopment Agency Refunding Revenue
Bonds Series 2013B ffaxabl6). Served as -Bond Counsel. Closed December-4—,2013.
$13,120,000 Successor Agency to the Redevelopment Agency of the City of Placentia, Placentia
Redevelopment Project, 2013 Tax Allocation Refunding Bonds. Served as Disclosure Counsel.
Closed December 3, 2013.
$5,275,000 Successor Agency to the Coachella Redevelopment Agency Subordinate Tax
Allocation Bonds (Merged Project Areas) 2013 Series. Served as Bond Counsel and Disclosure
Counsel. Closed October 24, 2013.
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$18,015,000 Successor Agency to the Walnut Improvement Agency Walnut Improvement
Project 2013 Tax Allocation Refunding Bonds. Served as Underwriter's Counsel. Closed
July 30, 2013.
$22,090,000 Successor Agency to the Upland Community Redevelopment Agency Upland
Community Redevelopment Project (A Merged Project) Tax Allocation Refunding Bonds, Issue
of 2013. Served as Disclosure Counsel. Closed June 4, 2013.
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