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Issue DescripUpn
2d_'0A, C&W IFICAT(.SGF P6RTICIPATrO6
SE RTIPCATt_Or- r1Ak 7 Qr'AT ray ZQJ 2 RE FINANC I NG Pi OIEU)
2002 REFI NANC I NG CAP IMPT PJ
RFDC •SF R A
RFDG•SFR 6
RFDG.S E R A
❑PEN SrACE ACOUISIT ION PRO
MEMORY vrr gsPAN540N PR 1
VYILSDH PN pP.DJ
�iswe desulrtlor r7ol�yddthl��
CAP 11a PIS PR Dry SER A
Drspiayrng I to 11 or , 1 results
E ven r• 6asetl 0 isclas are s
Dated Date
t012212020
05r2312012
1WI612002
04/01/1993
12MI11992
12MI11992
0.71p,11990
0710,11909
07mi n m
07101r1966
FIrSt ;4f6Y�i0u5'•, � HPar[�
Maturity Dates
2071 m 2030
2013 to 2030
200310 21130
t 99a to
t993[a 20t0 '
1993 to 2016
1994to 2016
1991 to 2010
1992 to 2009
1990to t996
198: to 2016
_Pr*,.Qvt . 1 LN�1[ Last
About EFAMA . Siten,ap Prrvaey P-uhcy : Terrrs of Use DPOCA P01i.r MS013 arg VSRO Systen's Status
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AbOW
Dear Voter:
Measure T will preserve and protect open space
within the city of Cupertino, at a cast of only
pennies a day. Currently up for sale are:
❑ Blackberry Farm, the oldest and largest open
space recreational site (33 acres) within the
City.
0 Fremont -Older school site (11.8 acres).
Unless the City of Cupertino purchases these last
remaining large parcels of open space, both will
be lost forever to development.
Your "yes" vote on Measure T will generate the
funds needed to acquire these two sites, thereby
ensuring citizens will have adequate recreational
open space within Cupertino. Loss of these sites
will inevitably lead to their subsequent
development, and thus further aggravate traffic
congestion on city streets.
The average cost per home for Measure T is only
$2.50 per month, and would be added to utility
bills. Measure T will terminate in 25 years or
sooner if the properties are paid off earlier.
Senior households (age 65) are exempted from
this measure.
Measure T has been endorsed unanimously by the
City Council, community and business leaders and
a wide variety of civic and sports organizations.
So please pin us on Tuesday, Nov. 6, in voting yes
on Measure T. It's your vital investment in the
quality of life for current and future generations of
Cupertino residents -
Fr eK+ d-W
#"Wf gape...
...keep Blackberry Farm and Fremont
Older School in open space and recrea-
tional uses
...make sure development doesn't destroy
these historic sites and turn them into
housing developments — and more traffic
for Cupertino
!Remember...
Cl The average Cupertino resident will
pay only $2.50 per month in utility tax
— only 8-cents per -ay.
u Seniors 65 and older are exempt — you
pay nothing!
❑ The measure expires in 25 years ... or
sooner if the property is paid off.
d Cupertino City Council
r Cupertino Chamber of Commerce
.I Youth Sports Foundations
League of Women Voters
d American Association of
University Women
Variety of civic, service &
community groups
C U P E R T I N 0
r Or gpaao
1
Oro
For Only 8-Cents a Day
You Can Keep Blackberry Farm
and Fremont alder School
in Open Space
� J
1
Look lnslde to See Why Your Yes Vote
on Measure T is Crucial Nov. 6
saaelf'r gat Frady
a�,4j Ah.t Afear06 r
On Tuesday, Nov. 6, Cupertino voters will
decide whether or not they wish to pay a
modest 2.4 percent utility tax (seniors 65 and
older exempted) that will provide funds for the
purchase and preservation of Blackberry
Farm as open space. The measure also will
generate funding to acquire Fremont Older
Elementary School, which would be used as a
large youth sports complex and family park.
Following are answers to commonly asked
questions about Measure T.
QHow much will Measure T cost me as a resi-
dent of Cupertino?
A Measure T will be based on 2.4 percent of your
PG&E and telephone bills. No other utility
will be taxed. To find out what your individ-
ual cost will be, multiply the total of those bills
by .024. For the average Cupertino residential
user, the PG&E bill is $75 per month and
telephone is $25. Using these figures, the total
taxable amount is $100. Multiplied by .024,
Measure T costs approximately $2.40 per
month. For one year, the cost is $28.80. (Out
of state telephone calls are not subject to the
tax.)
Q Why does the City have to purchase Black-
berry Farm and the school site?
A Blackberry Farm is for sale and the city wishes
to preserve it as open space. The measure
prevents residential developers frum build-
ing on the site. By law, the city of Cupertino
has the first right to buy Fremont Older Ele-
mentary School for recreation and open
space. if the City does not purchase this
property, state law requires it to be sold to
the highest bidder and the city has no legal
authority to prevent its development.
Q How will Measure T affect Cupertino
business owners?
A Businesses will pay the same rate (.024) as
residences. Because they are high users of
utilities, large companies will pay the largest
share of the tax. Several nearby communi-
ties have higher utility tax rates, so no
competitive disadvantage for Cupertino
businesses will result.
Q Would Measure T apply to everyone in the
City of Cupertino?
A Measure T contains a built-in exemption for
residential utility users 65 and older (senior
citizens).
Q This measure doesn't address upgrading
other youth playing fields at school sites
and in the city. Since that is a community
concern, how would Measure T help those
areas?
A Yes, you're right. Measure T does not
specifically address youth sports fields.
However, the City Council has already
unanimously adopted a resolution establish-
ing a youth sports fund of $1.1 million to
begin refurbishing about 46 acres of playing
fields.
Q What if FG&E and the telephone company
raise their rates?
A The cost of the 2.4 percent tax will naturally
increase if the rates go up. As a resident,
you may choose to lower your monthly bills
by controlling consumption. In addition, the
City Council has stated its intent to lower
the tax rate if there are unusually high
increases in utility rates. (Only a negligible
portion of PG&E energy source comes from
oil; rates are not dependent on oil price
fluctuations.)
Q How much is the City trying to raise?
The City has agreements with the owners of A
Blackberry Farm and the Cupertino Union
School District that requires $25 million of
new revenue to purchase these properties.
Q If the City were to acquire Blackberry
Farm, what would happen to it?
A The City is planning to continue the facility
as it is currently operated. Revenues coming
from Blackberry Farm would go toward
paying for the property.
Q How long will I have to pay for Measure P
A Measure T will "sunset" or end after 25
years, or sooner if the properties can be paid
off sooner.
i A
Paid for by T for open space
1191 Stafford Drive
Cupertino, GA W14
!D 1t 902M
flick Lohmjker - treasurer
This shows the text of Measure T official ballot that
was appro�y a majority of Cupertino voters .at the
General Election of November b, 1990.
CITY OF CUPERTINO MEASURES
Shall Ordinance No. 1534 of the City of Cupertino, adopted by
Tthe City Council of the City of Cupertino on August 9,1990, be
approved in order to authorize 1) the acquisition and
preservation of Blackberry Farm as open space, the acquisition and
preservation of other open space land within the City and the construction of
public recreation facilities consistent with the preservation and public use of
the open space, and 2} the imposition of an electric, gas and teleptlone
utility users excise Tax at rates of not to exceed two and forty hundredths
percent (2.40 %) of the monthly bills for said u 1 ility services (subject to an
exemption for senior citizens), for a period of not to exceed twenty-five (25)
years, provided that the City Council has taken the initial legal action
necessary to assure the completion of the acquisition and preservation of
certain municipal facilities, constituting open space facilities, generally
described in the ordinance?
11
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MO 26E
NEW ISSUE
FULL BOOK ENTRY
In ihr opinion of Jones /loll Nils d Whitc, 4 Prrrlessional Law Corporation, Sun Francisco, California, Special Counsel. subject.
hoxwvc•r. io certain qualif carions described herein. under existing law. the portitor of Lease Payments designated as and comprising
intsrrsr and received by the Owneri of the Cer0ftcares A excluded from gross income for federal income tax purposes, and
%U h interest is not an item of tax preference for purlx,ses ,J the Jrdeml individual and corporate alternative
q inimum tares although it is included in certain income and earning.; in computing the alternative minimum tu.%
i»t1wm,d on certain rorpuration.s In the further opinion of Special Counsel. such interest is esempt from � a
California Perwmal income taxr� fee 'TA.A' M4TTF.R "' herein ,
(`ERTIRWIIt11FPUT] CIPATiON A
(Opp 5pwe Acqufdden Prot)
E:videncit Direct, Undivided Fmctiedl Werests of the
[Owners Tread in Lease Payrnentr to be Made by the
CITY OF CUPERTINO, CALIFORNIA
As Rental for Certain Praptttlty Put'sttlla* Jo a Lease Agreement with the
CUPF.RTiNO PUBLIC FACILITIES CORPORATION
Dated: April I. 1991 Due: April 1, as shown below
The Certificates will be executed and deiivercd to provide for the :requisition and preservation by the Cupertino Public Facilities
Corporation (the "Corporation") of :i portion of two parcels of land within the City of Cupertino (the "City) commonly known as
Blackberry Farm and the Fremont Older Elementary School Site, excluding any improvements thereon (the "Project"). The
Certificates arc being issued to provide the City and the Corporation with moneys for the acquisition in order to preserve the Project as -
public open space. The remainder of such properties will be acquired with other available City funds. The Certificates represent direct,
undivided fractional interests of the owner, thereof (the "Owners") in the !_case Payments to be made by the City, for the use and
possession of the Project pursuant tit a 1 craw Agreement, dated as of April 1. 1991 r the "I ease Agreement"), between the City and the
Corporation.
Interest represented by the Ceniticatc.,; is payable semiannually on April I and Wober I. in each year commencing on October 1,
1991. The Certificates are deliverable in fully registered form and will be registered in the Warne of Cede & Co., as nominee of The
Depository Trust Company, New York. New York ("DTC"). DTC will act as the Securities Depository for the Certificates. Ownership
interests in the Certificates will be in denominations of $5,000 and integral multiples thereof. Beneficial owners of rite Certificates will
not receive physical certificates representing the Certificates purchased, but will receive a credit balance on the books of the nominees
of such purchaser,. Principal, premium, if any, and interest due with respect to the Certificates will be paid by the Trustee to DTC,
which will in turn remit such principal, premium, if any, and interest to its Participants for subsequent disbursement to the beneficial
owners- of the Certificate, as described herein See "BOOT{ -ENTRY SYSTEM" herein
The City has covenanted in the Lease Agreement that as long as the Project is available for the City's use and possession, it will
take such action as may be necessary to include and maintain all Lease Payments for the Project in its annual budgets, and to make the
necessary annual appropriations therefor. The obligation of the City to make lease Payments under the Lease Agreement does not
constitute an obligation of the City for which the City is obligated to levy or pledge any form of taxation. Neither the Certificates nor
the obligation of the City to make Lease Payments constitute an indebtedness of the State of California, the City or any other political
subdivision of the State of California. within the meaning of the Constitution of the Slate of Califomia or otherwise.
The Certificates are subject to optional And mandatory redemption prior Io maturity, as described herein.
Maturity Schedule
$9,940,00 Serial Certificates~
!Maturity
Principal
Interest
Natant)
Priadpal
Ioterem
(April 1)
Amount
Rate
Price
(April 1)
Amount
Rate
Price
1994
S b65,000
5.40q
10(6
2000
S 940,000
6,40`yn
100%
1995
700.000
50
100
2001
1.D00,000
61/2
100
1996
740,0O0
5.80
100
300'
060,000
6.60
1 D0
1997
785,000
6.00
100
2001
130,000
6.70
I DD
1998
830,000
6- l 5
100
2(104
.210.000
6.80
1 DO
1999
980.000
h.30
100
S 2,675,000 71A% Term Certificates due April 1, 2006 - Price 100%
$ 6,550.000 04% Term Certificates due April 1, 2010 - Yield 7.15%
$1305,000 71/g% Term Certificates due April 1, 2016 - Price 99%
(Plus Accrued Interest)
'The C'errificares are ojjered when, as and rJ sold and receiked by the Underwriter, subject to approval as to their legality by Jones Hall
Hill & White, A Professional Lax Corporation, San Francisco, California, Special Counsel. Certain legal matters will be passed
upon for the Underwriter by Nassaman, Gtrthner, knot & Elliott. San Francisco, California, and for the City and the
C-orp)ration hr• the Of)- Artornet . 11 is anriripated that the C'errrficates in book -entry form will he available for delivery in
Vex' York, New Y,)rk. sin or about 4pril 1 199!
Rauscher Pierce Refsnes, Inc.
Dated: March 14. 1991
NEW ISSUE—BOOK•ENTRY ONLY RATINGS:
Moody's: Aaa
Standard & Poor's: AAA
(See "Ratings" herein)
In the ripinion of Quint & Thimmix LLP Special Crurnsel, mbject, however, to certain guafifrcosiuns and assumpsions described herein, sunder existing law, the
inirress with respect to the Cernficares is exclirfled from gra.ts Income for Jederal income tax parposes and such interest is nut an isem of tux preference fnr p+trpuses of
she federof altrrmnive minimum lax imposed on indivit oah anti curporaorsns, ahhuttgh for the purpose ref reimprrring the alternative minimum tax imposed on
crirprrrarrpns, such interrst is taken into acxmint in deierntining certain income and earnings. hi the fiirther npinwn of Special Carman!, inch interest is exempt from
Californto persunal income taxe . See "CONCLUDING INFORMATION Tax Mutters" herein.
Wr6"r000
Certificates of Participation 3 '
(2002 Refinancing and Capital Improvement Project)
Evidencing Direct Undivided Fractional Interests of the
Owners Thereof to Lease Payments to be Made by the l
CITY OF CUPERTINO
(Santa Clara Cousity, California)
As the Rental for Certain Property Pursuant to a Lease Agreement
with the Cupertino Public Facilities Corporation
[Doled: Date of Delivery Due: July 1, As Sbown Below
The Ccnilieatcs will he etxeculed and cl:livctrcd as fully registered certificates in 1:44A-entry form only, initially registered in the name of Cede & Co., Ncw York -
New York, as nominee of The Depositary Trust Company ("DTC" ). New York, New York. Purchasers will not receive certificates representing their interest in the
Certificates. Individual purchases tat the Certificates will be in principal amounts of SSJNN) or in any integral muhipks of S5.4MBI, interest with respect to the Certificates
will he payable oxt July I and January I of each year. commencing July 1, 2fM)3 (the •'interest Payment Dates"), and principal with respect to the Certificates will he
payable on July i in each of the years and in the amuunIs Set forth in the Maturity Schedule below. Payments c ff principal of and interest with respect to the Certificates
will he paid by BNY Western Trust Cmitpany. Leis Angcic%. California. as truslce (the -'Trustee'). In OTC for sahsLqueni disbursement to OTC Participants who will
remit such payments to the Berteliciat Owners of the Certificates.
The Certilicalcs are being sold, executed and delivered (i) to provide fundti for the acquisition and construction of a new public library (thee "2EM12 Project-) for
the City of Cupeninu(the "City"), (ii) tocurrcnt refund the City's obligations relating to the $11I.785.I0) Cenilicatcs of Participation (1992 Refunding. Series A)- dated
Deeemhi. r 1. 1W2, of which $7.76000 n outstanding, (iii) it) current refund the City's ohiigations relating u1 the SI4,Sft50)lI Curt iticaics of Participation (1992
Refunding, Series B), dated Dccemhcr 1, 1992. of which $7,1t75AXI is currently outstanding. (iv) to current refund the City's ohligalions relating to the S3B,6tCOMl
Certificates of Participation (1993 Refunding, Series A). dated April 1, 19g3. of which S26.735,IMM1 is currently outstanding. (v) m purchase a surety Nind for deposit
in the Reserve Fund for the Certificates L44Ual to the Reserve Requirement, and (vi) io pay certain %Ants of executing and delivering the Certificates.
The Certificltlea we subjott en opfitiml sad mttndafovy m4emplinn prkw in matur4 as dcKvibed herein. See "THE CERTIFICATES—Rcderriptioa" Isereia
The Certificates evidence and represent direct undivided fractional interests of the owner% thereof in $case payments (the --Leaw Payments') (which include
principal and interest components) to he mark by the City for the right to the use of certain real property and improvements (the -Pruperty) pursuant to that certain
Lease Agreement, dated as of October 1, 24M)2 (thc "Lease Agreement"). by and hctween the City, as lssee, and the Cupertino Public Facilities Corporation (Ihc
"Corporation")- as lessor. The City will covenant in the Lease Agreement to make the Lease Payments for the Property as provided for therein. to include all such
Lease Payments in each of it, budgets and to make the necessary annual appropriations for all such Lcase Payments. The Lease Payments are subject to abatement.
htrwcvcr, as described herein. Sec "SFCURITY FOR THE C'ERTIFlCATES" and "RISK FACTORS" herein.
That ewer page confaim informalkin for general refercoice only. It in nrrt a sunimary of the securhy or term% of this fare. Investur% must read I he %shire [11Rrial
Statemcnl, Ind uding the wdinn entitled " RiSli FACTORS", for a discusshin of special factor% which should he considered, in addilion In the other matlemn set fordo
herein, in considering the invcs ment quality of the Certitiestec Capitalised term% used on thi%cover page and not Wlherwise defined shall have the meanings set fordo
herein.
THE CITYS OBLIGATION TO MAKE LEASE PAYMENTS IS AN OBLICATION PAYABLE FROM THE Cr Y'S GENERAL FUND OR ANY
OTHER SOURCE OF FUNDS LEGALLY AVAILABLE TO THE CITY TO MAKE LEASE PAYMENTS, NErrHER THE CERTIFICATES NOR THE
OBLIGATION OF THE. CiTY TO MAKE LEASE PAYMENTS CONSTITUTE A DEBT OF THE CITY OR OF T HE STATE OFCALIFORNIA OR OF ANY
POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING: OF ANY CONSTITUTIONAL OR STATUTORY DEBT LIMIT OR RFMICTiON OR
ANY OBLIGATION FOR WHICH THE CITY OR THE STATE OF CALIFORNIA IS IIBLIGATED TO LEVY OR PLEDGE ANY FORM OF TAXATION
OR FOR WHICH THE CITY OR THE STATE OF CALIFORNIA 14AS LEVIED (OR PLEDGED ANY FORM OF TAXATION.
To further secure its t"igalium under the Lease Agreement. in the event that funds otherwise available it) make any [.case Payment will not he sufficient (other
than in connection with the ahatement of Lease Payments as provided in the L t asc Agreement), flk: City has elected pursuant Ito the provisions of section 373.515
Of the California IiawCTnment Code, io provide for its payments of Lease Payment tti 1>e made from an apporlionmew of moneys to which the City m entitled from
the Mo4or vehicle License Fvc Account in the Transportalion Fund under Chapter 5 (commencing with section I11MM11) of Part 5 of Division 2 of the California
Revenue: and Taxation Code.
Payment of the principal and interest with respect Its the Certilicates when duo: will he insured by a financial guaranty insurance paiticy tea he issued by Ambac
Assurance Corporation aimultitncowdy with the delivery of the Curiilicales.
MATURITY SCHEDULE
CUSIP Prefix 231211
$39,%5,000 Serial Certificates
MrhAv
Principal
lr�tmer! Prier rK CLSIF
r
Ilaily 1}
A
l�C
ld
ouly if
Atrial
ItMe V" Soft
_
2(1113
SIA70,IMMI
20I % 7. ELS
2014
S1,66o,m)
4.4141 %
14)3.721%
EX9
24M14
122f),IMMI
210 IAA EM3
2015
1,730,akx1
4.11()
IO2.211
EY7
70A
1,2450Ml
201 I.KM) EN1
2016
1.79S,lxM)
40)
1111-0%
E74
24111)6
1.27101111
2 0) 1.751) EPh
2017
1,871),I0I
40)
)WON)
FAN
24I117
1"JNM1
4.51) 2.1411) E04
2018
1,945,I1(11
501
106.Yf17
PB6
2018
1.35500
4A 5 2.381) ER2
2019
2,0410111
501
106.152
FC4
24M)9
1,415.tMMJ
30) VAN ESf1
20211
2,1450M)
SO)
105.4415
FD2
2010
I,4fAt[M01J
DO 2.910 ETH
2021
2,250,401)
4.25
4.4NI
FiEII
2011
15(M),4MMI
30) 3.091 EU5
2022
2,345,4101)
4.375
4.520
FF7
2012
1.545d01Ml
3,25 11M1.374 EV3
2tf23
2,450,0)
4,511
4,540
FG5
2013
1,filMl,fMMl
4.1M1 1t7 AR5 EWl
2104
256110M)
4.511
4.5E+1l
FH3
%410,0W 4,759E Terns Cerlifiates Due July 1, 2027•Prke: 101.203%:
CUSIP
Suffix: FJ9
$9.665,000 4.75% Term Certiftales Due July 1, 2030-Price: 101.059%; CUSIP Suffix: FK6
The Cerrificales car offerer[ when, as and if sold, exettard and delivered, subjecl Orr approvat by Quint & Thimmig LLP,
Scrn Franciur)
Crrfifornia. Special Counsel.
Certain irgul mattery will he
posted upon for the City hy the City Auorney. it is unricipaterf thur the Cerfijicuier in hunk -entry fern, wW he availabk
for delivery in DTC
in New Yurk, New Yurk, our or aburte Octuher Ifi, 2W2.
Date: dcfohcr 1, 2tM12
U[]T Amendment Arguments and Rebuttals
August 4, 2009
Page 2 of 2 ti
The ballot measure question submitted to the voters in November will be:
"MEASURE : Cupertino Vital Services Utility Users
Tax Update Measure. Without increasing the tax rate, shall
an ordinance be adopted to update Cupertino's existing
YES
_telephone utility users tax, to fund general city services,
including neighborhood police patrols, library services, city
streets, parks and open spaces, senior programs, and school
crossing guards, while maintaining senior citizens' tax
NO
exemptions, treating taxpayers equally regardless of
technology used, retaining local control of revenues, and
requiring annual audits and public expenditure reviews?"
The sample ballot will include the City Attorney's impartial analysis of the measure. The
full text of the ordinance is available from the City Clerk.
RECOMMENDATION
Have the City Council review and sign the argument in favor of amending the utility user
tax, and consider having key community members review and sign the rebuttal argument, if
one is necessary.
Submitted by:
David Woo
Finance Director
Reviewed by:
-6a"� a aA�e�
Carol A. Atwood
Director of Administrative Services
Approved for submission:
David W. Knapp
City Manager
16-2
CUPERTINO
Agenda Item No. t �
SUBJECT AND ISSUE
ADMINISTRATIVE SERVICES DEPARTMENT
CITY HALL
10300 TORRE AVENUE • CUPERTINO, CA 96014-3202
(408) 777-3220 • FAX (408) 777-3109
SUMMARY
Meeting Date: August 4, 2009
Review the argument in favor and the rebuttal argument, if necessary, for the November 3,
2009 election regarding the utility user tax amendment. Authorize signers for each
document.
BACKGROUND
The City Council adopted Resolution No. 09-120 on July 21, 2009 placing a measure on
the November 3, 2009 general municipal election to amend the telephone utility user tax.
As stated in the resolution, arguments for and against the measure are due to the City Clerk
by 5:00 p.m. on Friday, August 7, 2009.
Although an opposition statement is not expected, any rebuttal arguments are due to the
City Clerk by 5:00 p.m. on Monday, August 17, 2009. The procedure and deadlines were
noticed in the Cupertino Courier on July 29.
A maximum of five persons can sign the arguments and/or rebuttals: From the arguments
submitted, the City Clerk will choose one argument in favor and one argument opposed to
the measure and will do the same for the corresponding rebuttals that will appear in the
sample ballot. Arguments are confidential until the August 7, 5:00 p.m. City Clerk
deadline, at which time they are available at City Hall and will eventually be posted on the
City wehsite. If there is both an argument for and against the measure, the Clerk will
exchange the arguments between the authors to facilitate rebuttal preparation.
Signers of the rebuttals need only be either the original authors or individuals authorized to
sign by the original persons. Council may consider having the rebuttal signed by up to five
individuals who represent key interests in the city, such as the school districts, public
safety, and the business community.
16-1
NEW ISSUE - BOOK -ENTRY -ONLY RATING:
S&P: µAA+"
(See "RATING" herein)
In the opinion of Stradling Yocca Carlson do Rauth, a Professional Corporation, Newport Beach, California ("Special Counsel"),
under existing statutes, regulations, rulings and judicial decisions, and assuming the accuracy of certain representations and compliance
with certain covenants and requirements described herein, interest (and original issue discount) with respect the Certificates is excluded 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. In the further opinion of Special Counsel, interest (and original issue discount) with respect to the Certificates is
exempt firm State of California personal income tax. See the caption "TAX MATTERS" with respect to tax consequences concerning the
Certificates.
$22,040,000
CITY OF CUPERTIND
2020A CERTIFICATES OF PARTIGIVATION
CUPERTINO y ' 't
Dated: Date of Delivery Due: June 1, as shown on the inside cover
The City of Cupertino 2020A Certificates of Participation (the "Certificates") are being executed and delivered to (i) provide funds
to prepay the outstanding Certificates of Participation (2012 Refinancing Project) (the "20I2 Certificates"); and (ii) pay the costs of issuance
incurred in connection with the execution and delivery of the Certificates. The Certificates represent fractional undivided interests of the
registered owners thereof in certain lease payments (the "Lease Payments") to be made by the City of Cupertino (the "City") to the Cupertino
Public Facilities Corporation (the "Corporation"), under a Lease Agreement, dated as of October 1, 2020 (the "Lease"), by and between the
City and the Corporation. Pursuant to the Lease, the City will lease from the Corporation certain real property and the existing improvements
thereof consisting of the City's City Hall and Administrative Offices, Community Hall/Council Chambers and Quinlan Community Center
(collectively, the "Leased Premises"). See "DESCRIPTION OF THE LEASED PREMISES" and "SECURITY AND SOURCES OF
PAYMENT FOR THE CERTIFICATES" herein.
The Certificates will be executed and delivered in the principal amount of $5,000 and any integral multiple thereof pursuant to a
Trust Agreement, dated as of October 1, 2020 (the "Trust Agreement"), by and among the City, the Corporation and The Bank of New York
Mellon Trust Company, N.A., as trustee (the "Trustee'). Interest represented by the Certificates is payable semiannually on June 1 and
December 1 of each year, commencing on December 1, 2020. See "THE CERTIFICATES" herein.
The Certificates will be executed and delivered in book -entry form only and, when delivered, will be registered in the name of
Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC"), which will act as securities depository for the
Certificates. Individual purchases of the Certificates will be made in book -entry form only. Principal and interest payments due with respect
to the Certificates are payable directly to DTC by the Trustee. Upon receipt of payments of principal and interest, DTC will in turn distribute
such payments to the beneficial owners of the Certificates. See Appendix F—"DTC BOOK -ENTRY SYSTEM" herein.
No reserve fund has been established in connection with the execution and delivery of the Certificates.
The Certificates are not subject to optional redemption prior to maturity. The Certificates are subject to extraordinary
prepayment prior to maturity, as described herein. See "THE CERTIFICATES —Prepayment" herein.
THE CERTIFICATES DO NOT CONSTITUTE AN OBLIGATION OF THE CITY FOR WHICH THE CITY IS OBLIGATED
TO LEVY OR PLEDGE ANY FORM OF TAXATION OR FOR WHICH THE CITY HAS LEVIED OR PLEDGED ANY FORM OF
TAXATION. THE OBLIGATION OF THE CITY TO MAKE LEASE PAYMENTS UNDER THE LEASE DOES NOT CONSTITUTE
AN OBLIGATION OF THE CITY FOR WHICH THE CITY IS OBLIGATED TO LEVY OR PLEDGE ANY FORM OF TAXATION OR
FOR WHICH THE CITY HAS LEVIED OR PLEDGED ANY FORM OF TAXATION. NEITHER THE CERTIFICATES NOR THE
OBLIGATION OF THE CITY TO MAKE LEASE PAYMENTS CONSTITUTES AN INDEBTEDNESS OF THE CITY, THE STATE OF
CALIFORNIA OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR
STATUTORY DEBT LIMITATION OR RESTRICTION.
The purchase of the Certificates involves certain risks which should be considered by investors. See "RISK FACTORS" for a
discussion of certain risk factors that should be considered in addition to the other matters set forth herein.
This cover page contains information for quick reference only. It is not a summary of this issue. Potential purchasers must
read the entire Official Statement to obtain information essential to making an informed investment decision.
The Certificates will be offered when, as and ifexecuted and delivered, and received by the Underwriter, subject to the approval as
to their legality by Stradling Yocca Carlson & Rauth, a Professional Corporation, Ne+sport Beach, Cal fornia, Special Counsel, and certain
other conditions. Certain legal matters will be passed upon for the City and the Corporation by the City Attorney and by Stradling Yocca
Carlson & Rauth, a Professional Corporation, as Disclosure Counsel, for the Underwriter by Quint & Thimmig LLP, Larkspur, California,
as Underwriter's Counsel, and for the Trustee by its counsel. It is anticipated that the Certificates will be available in book -entry form for
delivery through the facilities of DTC on or about October 22, 2020.
STIFEL
Dated; September 29, 2020
CC 4-07-2026
#1
Active Transportation Plan
Written Communications
From:Santa Teresa Cupertino
To:City Council; Public Comments
Subject:Protect Cupertino’s Safety: Reconsider Segregated Bike Lane and ATP Projects Affecting Evacuation Access
Date:Wednesday, April 8, 2026 11:42:27 AM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you
recognize the sender and know the content is safe.
Dear Mayor Moore, Vice-Mayor Chao, and Council Members,
We placed our trust in your commitment to represent and prioritize the needs and safety of Cupertino residents. We
deeply value the leadership you have shown and appreciate your dedication to balancing our city’s infrastructure,
environmental, and fiscal responsibilities.
With that in mind, we respectfully urge you to reconsider funding for the segregated bike lanes and any projects
within the Active Transportation Plan (ATP) that may reduce roadway capacity or impede emergency response and
evacuation.
While we support safe and sustainable transportation options, the specific design of segregated bike lanes—
especially those that introduce concrete dividers or reduce shoulder space—poses serious risks. These changes
remove flexible roadway areas needed for vehicles to pull over and for emergency responders to maneuver quickly.
In a wildfire or other emergency, the ability to open lanes and adjust traffic flow can make a critical difference in
ensuring public safety.
The Stevens Creek Boulevard corridor, from Foothill to De Anza, is already operating at near-capacity levels.
Maintaining free-flowing right turns and direct access to community destinations—such as Orange, Pasadena,
Imperial, De Anza College, Stelling, and nearby shopping centers—is essential to avoid daily congestion. These
routes also play a vital role in school circulation, and restricting right-side capacity will lead to significant delays for
families. The same concerns apply to the Foothill and Stevens Canyon corridors.
As our elected leaders, we encourage you to be bold and be selective—support only the projects that truly enrich
Cupertino. Every budgeted project is a long-term investment in promoting Cupertino as the chosen city in the Bay
Area—a community that residents are proud to call home. We believe you share our goal of protecting public safety,
maintaining sensible mobility, and ensuring prudent financial management.
Thank you for your continued service and commitment to the residents of Cupertino.
Cupertino Resident
Jen C.
From:Ashwini Kumar - Tejas Patil
To:City Council; Tina Kapoor; City Clerk; Chad Mosley; David Stillman; Public Comments
Subject:request to reconsider ATP project
Date:Tuesday, April 7, 2026 6:30:53 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you
recognize the sender and know the content is safe.
Dear Mayor Moore, Vice-Mayor Chao, Council members,
Please reconsider the ATP project. the proposed changes, i think, should be defunded.
The proposed designs remove usable roadway. They restrict pull-over space. Emergency
vehicles need that space. Without it, response times will suffer.
Concrete barriers create fixed choke points. They reduce flexibility during emergencies. In a
wildfire or evacuation, we need the ability to open lanes quickly. These barriers make that
impossible.
The Stevens Creek Boulevard corridor from Foothill to De Anza must not be constrained. It is
already congested. Right turns must remain free-flowing. Access to Orange, Pasadena,
Imperial, De Anza College, Stelling, and nearby shopping centers is essential. Removing
right-side capacity will create daily gridlock.
While I understand the aim of the project, the proposed implementation is, I consider, faulty.
the design is impacting a few elementary and middle schools and I believe more than 90% of
the students in elementary and middle schools do not bike to school. The proposed designs
will directly impact school drop-off and pick-up. Families rely on these routes. Delays will be
severe and unavoidable.
Do not turn key corridors into bottlenecks. Do not compromise emergency access. Do not
disrupt school circulation.
If the full ATP cannot be canceled, then remove all proposed bike lane elements that reduce
vehicle capacity.
Also review staffing tied to these projects. Reducing program scope should include reducing
associated headcount. This is a necessary step given the city’s structural budget deficit.
Please act now. Defund and cancel ATP.
Best Regards,
Ashwini Kumar Patil
From:Vidya Gurikar
To:City Council; City Clerk; Tina Kapoor; Chad Mosley; David Stillman; Public Comments
Subject:Cancel ATP
Date:Tuesday, April 7, 2026 5:35:45 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless
you recognize the sender and know the content is safe.
> Dear City clerk,
> Please include this in public comments section.
> Thank you.
>
> Dear Mayor Moore, Vice-Mayor Chao, Council members,
>
> Please cancel the ATP project.
>
> These projects benefit only a very small number of bicyclists and will make it very difficult for large number of
other vehicles who use the roadways.
>
> We already have dedicated bike lanes in many major streets in Cupertino. They are serving their purpose without
concrete barriers. The concrete barriers will only make the roadways worse.
>
> The major roads in Cupertino are already overcrowded during the commute hours. Please do not make it worse.
>
> Proposed designs reduce usable roadway. They restrict pull-over space. Emergency vehicles need that space.
Without it, response times will suffer.
>
> Concrete barriers create fixed choke points. They reduce flexibility during emergencies. In a wildfire or
evacuation, we need the ability to open lanes quickly. These barriers make that impossible.
>
> The Stevens Creek Boulevard corridor from Foothill to De Anza must not be constrained. It is already congested.
Right turns must remain free-flowing. Access to Orange, Pasadena, Imperial, De Anza College, Stelling, and nearby
shopping centers is essential. Removing right-side capacity will create daily gridlock.
>
> This will directly impact school drop-off and pickup. Delays will be severe and unavoidable.
>
> Do not turn key corridors into bottlenecks. Do not compromise emergency access. Do not disrupt school
circulation.
>
> If the full ATP cannot be canceled, then remove all proposed bike lane elements that reduce vehicle capacity.
>
> Also review staffing tied to these projects. Reducing program scope should include reducing associated
headcount. This is a necessary step given the city’s structural budget deficit.
>
> Please act now and cancel ATP.
>
> Thank you.
Shrividya Gurikar
> Cupertino Resident
>
>
From:Mahesh Gurikar
To:City Council; City Clerk; Tina Kapoor; Chad Mosley; David Stillman
Subject:Defund ATP
Date:Tuesday, April 7, 2026 5:22:12 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless
you recognize the sender and know the content is safe.
Dear City clerk,
Please include this in public comments section.
Thank you.
Dear Mayor Moore, Vice-Mayor Chao, Council members,
Please cancel the ATP project.
These projects benefit only a very small number of bicyclists and will make it very difficult for large number of
other vehicles who use the roadways.
We already have dedicated bike lanes in many major streets in Cupertino. They are serving their purpose without
concrete barriers. The concrete barriers will only make the roadways worse.
The major roads in Cupertino are already overcrowded during the commute hours. Please do not make it worse.
Proposed designs reduce usable roadway. They restrict pull-over space. Emergency vehicles need that space.
Without it, response times will suffer.
Concrete barriers create fixed choke points. They reduce flexibility during emergencies. In a wildfire or evacuation,
we need the ability to open lanes quickly. These barriers make that impossible.
The Stevens Creek Boulevard corridor from Foothill to De Anza must not be constrained. It is already congested.
Right turns must remain free-flowing. Access to Orange, Pasadena, Imperial, De Anza College, Stelling, and nearby
shopping centers is essential. Removing right-side capacity will create daily gridlock.
This will directly impact school drop-off and pick-up. Families rely on these routes. Delays will be severe and
unavoidable.
Do not turn key corridors into bottlenecks. Do not compromise emergency access. Do not disrupt school circulation.
If the full ATP cannot be canceled, then remove all proposed bike lane elements that reduce vehicle capacity.
Also review staffing tied to these projects. Reducing program scope should include reducing associated headcount.
This is a necessary step given the city’s structural budget deficit.
Please act now. Defund and cancel ATP.
Thank you.
Mahesh Gurikar
Cupertino Resident
From:Shankar
To:City Council
Cc:Tina Kapoor; City Clerk; publiccomment@cupertino.org; Chad Mosley; David Stillman
Subject:Active Transportation Plan (ATP) project.
Date:Tuesday, April 7, 2026 4:45:49 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you
recognize the sender and know the content is safe.
Dear City Council / Transportation Committee,
I am writing to share my concerns regarding the proposed Active Transportation Plan (ATP)
changes along Stevens Creek Boulevard, particularly in the Foothill to De Anza corridor.
While I understand the broader goals of improving safety and supporting multimodal
transportation, I am concerned that the current design may introduce unintended consequences
for both traffic flow and emergency response.
This corridor is already heavily utilized and frequently congested. Reductions in vehicle
capacity, especially along the right side where turning movements and access points are
concentrated, could significantly impact daily traffic conditions. In particular, maintaining
efficient right-turn flow is critical for access to key streets such as Orange, Pasadena, Imperial,
De Anza College, and Stelling, as well as nearby shopping areas. Any degradation here would
likely affect not only general traffic but also school drop-off and pick-up patterns for many
local families.
I am also concerned about the use of fixed concrete barriers. While they may provide safety
benefits, they can reduce flexibility in roadway management. In situations such as emergency
response or evacuations, the ability to dynamically adjust lanes or allow temporary pull-over
space can be important. It would be helpful to better understand how these scenarios have
been evaluated in the current design.
Given these concerns, I would strongly encourage reconsideration of design elements that
reduce vehicle capacity or limit operational flexibility along this corridor. If the ATP moves
forward, I request that alternatives be explored that preserve current traffic flow and
emergency access while still achieving safety improvements.
Additionally, given the city’s broader budget considerations, I encourage careful evaluation of
project scope to ensure that investments are aligned with highest-impact outcomes.
Thank you for your time and consideration.
Sincerely,
Shankar Garikapati
From:Shweta Minch
To:Public Comments
Date:Tuesday, April 7, 2026 4:45:32 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you
recognize the sender and know the content is safe.
Hello we're Cupertino residents. Morning all 3 school timings almost same n it's very difficult
to drive. Why Cupertino City arrange the school bus? It's very convenient to everyone.
Thank you.
Shweta.
From:Deepa Mahendraker
To:City Council; Tina Kapoor; City Clerk; Chad Mosley; David Stillman; Public Comments
Subject:Please defund and cancel the ATP project
Date:Tuesday, April 7, 2026 4:38:15 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless
you recognize the sender and know the content is safe.
Dear Mayor Moore, Vice-Mayor Chao, Council members,
Please defund and cancel the ATP project.
These designs remove usable roadway. They restrict pull-over space. Emergency vehicles need that space. Without
it, response times will suffer.
Concrete barriers create fixed choke points. They reduce flexibility during emergencies. In a wildfire or evacuation,
we need the ability to open lanes quickly. These barriers make that impossible.
The Stevens Creek Boulevard corridor from Foothill to De Anza must not be constrained. It is already congested.
Right turns must remain free-flowing. Access to Orange, Pasadena, Imperial, De Anza College, Stelling, and nearby
shopping centers is essential. Removing right-side capacity will create daily gridlock.
This will directly impact school drop-off and pick-up. Families rely on these routes. Delays will be severe and
unavoidable.
Do not turn key corridors into bottlenecks. Do not compromise emergency access. Do not disrupt school circulation.
If the full ATP cannot be canceled, then remove all proposed bike lane elements that reduce vehicle capacity.
Also review staffing tied to these projects. Reducing program scope should include reducing associated headcount.
This is a necessary step given the city’s structural budget deficit.
Please act now. Defund and cancel ATP.
Thank you.
Deepa
Sent from my iPhone
CC 4-07-2026
#10
Mayor Signature for Joint
Letter with West Valley
Mayors
Written Communications
From:Rhoda Fry
To:Public Comments
Subject:Item #10 letter to state
Date:Tuesday, April 7, 2026 4:02:13 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless
you recognize the sender and know the content is safe.
Item #10 letter to state
Hi City Council,
I would certainly be pleased if the state would roll back ab130 and/or replace other draconian housing laws. I hope
that the letter can be clarified to allow modifications to laws in order to regain local control. So I was a bit
concerned about putting a total pause on housing laws. Yes, we want housing production, but not at the expense of
public health and safety.
Thanks, Rhoda
CC 4-07-2026
#11
Harvest Proporties
Written Communications
From:Connie-Comcast Swim5am
To:City Council; City Clerk
Subject:2026-4-7 Agenda Item for Townhomes at Panera/Voyager Site
Date:Tuesday, April 7, 2026 8:33:38 PM
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you
recognize the sender and know the content is safe.
Please add this to Written Communications
Agenda Item Townhomes at Panera/Voyager Site
Honorable Mayor Moore, Vice-mayor, and Councilmembers,
Connie Cunningham
38 year resident
Housing Commission, speaking for myself only
I strongly support this application.
Cupertino needs more homes of all types. These townhomes include a variety of
homes. Especially, it include Below-Market Rate purchase homes and is an
excellent step toward our commitment expressed earlier this evening for April as
Fair Housing Month..
I agree with the speakers who have made important testimony about Panera
Bread and Voyager Coffee as community hubs. I urge City Council and Staff to
continue the Planning Commission’s idea for finding incentives to keep Panera
Bread and Voyager Coffee in the City.
I urge City Council to approve this Harvest Properties Townhome project tonight.
Thank you for your consideration.
Connie Cunningham
38 year resident
Housing Commission, speaking for myself only
From Connie's iPhone