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BACKGROUND <br /> In June 1993, the Pleasanton Joint Powers Financing Authority ( "the Authority ") was <br /> formed by a Joint Exercise of Powers Agreement between the City of Pleasanton and <br /> the Housing Authority. The Authority is the issuing agency for the Series 2004A and <br /> 2004B Reassessment Revenue Bonds and also facilitates lease financing (through <br /> Certificates of Participation) for many of the City public buildings. The by -laws of the <br /> Authority require that an annual meeting be held to conduct any new business of the <br /> organization. <br /> Attached for the Board's review is the October 2010 secondary market disclosure <br /> document available on the City's web site to bond investors and prospective investors of <br /> the Series 2004A and Series 2004B Reassessment Revenue Bonds. This document, <br /> prepared annually, updates interested parties on the on -going credit worthiness of the <br /> bonds by disclosing land development, land valuation, delinquency information, and <br /> fund balances in the North Pleasanton Improvement District assessment areas. The <br /> Secretary of the Authority will file the fiscal year 2010 financial audit when it becomes <br /> available. There were no material weaknesses or misstatements noted by the auditors <br /> in the 2009 audit. The original principal of the assessment bonds issued between 1981 <br /> and 1992 totaled more than $250,000,000. The remaining principal is currently <br /> $6,530,000 and is scheduled to be paid off by September 2011. <br /> Submitted by: Approved by: <br /> ki <br /> Emily E. Wagner Nelson Fialho <br /> Treasurer /Controller Executive Director <br /> Attachment: <br /> 1. October 2010 Continuing Disclosure Report <br /> Page 2 of 2 <br />