About this bond issuance
This Official Statement, which includes the cover page and the appendices hereto, sets forth certain information in connection with the offering by the Alameda County Transportation Commission ("Alameda CTC") of $137,145,000 aggregate principal amount of Alameda County TransportationCommission Sales Tax Revenue Bonds (Limited Tax Bonds), Series 2014 (the "Series 2014 Bonds").The Series 2014 Bonds will be the first series of bonds issued by Alameda CTC secured under Measure B (as defined herein).
ObligorThe obligor is the organization that holds ultimate responsibility for the bond issuance, and will ensure that investors get repaid.
Alameda County Transportation Commission
IssuerOften the obligor. However, sometimes issuers partner with an authorized conduit financing non-profit within their state or city to issue the bonds.
Alameda County Transportation Authority
AuthorityBefore an issuer can raise money for a project, they must first have the legal authority to do so. This authority is sometimes preceded by a general election, and awarded after the successful passing of a bond measure.
The Series 2014 Bonds are being issued by Alameda CTC under and pursuant to the authority granted under Division 19 of the Public Utilities Code of the State of California (Section 180000 et seq.) (the "Act"), Ordinance No. 2000-1 adopted on July 25, 2000 pursuant to the provisions of Section 180000 through Section 180264 inclusive of the Act ("Ordinance No. 2000-1"), and the Indenture, dated as of February 1, 2014, as supplemented and amended from time to time pursuant to its terms, including as supplemented by a First Supplemental Indenture, dated as of February 1, 2014, (together, the"Indenture"), each between Alameda CTC and Union Bank, N.A., as trustee (the "Trustee").
SecurityThe security section is a breakdown of the funds an issuer is planning to use to repay its investors. This repayment can come from a variety of sources, including local taxes.
The Series 2014 Bonds are limited obligations of Alameda CTC payable from and secured by certain revenues (the "Revenues") pledged under the Indenture, including a pledge of revenues (the "Sales Tax Revenues") derived from a one-half of one percent retail transactions and use tax known as Measure B ("Measure B") that became effective on April 1, 2002 (the "Sales Tax"), imposed in the County in accordance with the Act and Part 1.6 of Division 2 of the Revenue and Taxation Code, net of an administrative fee paid to the California State Board of Equalization (the "BOE") in connection with the collection and disbursement of the Sales Tax. The Sales Tax was approved on November 7, 2000 by more than two-thirds of the electorate of the County voting on Measure B and is scheduled to expire on March 31, 2022.