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8.A. - Page 6 Attachment 1 <br /> RESOLUTION NO. <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> REDWOOD CITY AUTHORIZING PROCEEDINGS AND <br /> AGREEMENTS RELATING TO THE REFINANCING AND <br /> FINANCING OF CERTAIN WATER FACILITIES, APPROVING <br /> ISSUANCE AND SALE OF BONDS BY THE CITY OF REDWOOD <br /> CITY PUBLIC FINANCING AUTHORITY, APPROVING AN OFFICIAL <br /> STATEMENT AND AUTHORIZING OFFICIAL ACTIONS <br /> WHEREAS, the City of Redwood City Public Financing Authority is a joint powers authority <br /> duly organized and existing under and pursuant to that certain Joint Exercise of Powers <br /> Agreement dated as of June 18, 1991, by and between the City of Redwood City (the "City") and <br /> the City of Redwood City Redevelopment Agency (the "Agency"), and under the provisions of <br /> Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the <br /> Government Code of the State of California (the "Act"), and is authorized pursuant to Article 4 of <br /> the Act to borrow money to provide financing and refinancing for public capital improvements of <br /> the City; and <br /> WHEREAS, in order to finance certain improvements to the City's water system (the <br /> "Enterprise"), the City and the Authority previously entered into an Installment Purchase Contract, <br /> dated as of February 1, 2006 (the "2006 Installment Purchase Contract"); and <br /> WHEREAS, pursuant to an Indenture of Trust, dated as of February 1, 2006 (the "2006 <br /> Indenture") between the Authority and The Bank of New York Mellon Trust Company, N.A., as <br /> trustee (the "Prior Trustee"), the Authority issued its Water Revenue Bonds, Series 2006A, in the <br /> original principal amount of $26,000,000, of which $20,705,000 remains outstanding (the <br /> "Refunded Bonds"); and <br /> WHEREAS, the City has requested that the Authority issue its revenue bonds (the <br /> "Bonds") for the purpose of providing funds to enable the City to refinance the City's obligations <br /> under the 2006 Installment Purchase Contract, to be Issued pursuant to an Indenture of Trust <br /> (the"Indenture"), currently dated as of May 1, 2015 between the Authority and U.S. Bank National <br /> Association, as trustee (the "Trustee"); and <br /> WHEREAS, to provide for such refinancing the Authority proposes to issue its City of <br /> Redwood City Public Financing Authority Water Revenue Refunding Bonds, Series 2015 (the <br /> "Bonds") in an aggregate original principal amount of not to exceed $21,055,000 under the <br /> provisions of Article 4 of the Act, which Bonds are proposed to be payable from installment <br /> payments to be paid to the Authority by the City pursuant to an Installment Purchase Contract <br /> (the "Installment Purchase Contract"), currently dated as of May 1, 2015, between the Authority <br /> and the City; and <br /> WHEREAS, the Authority has determined that the Bonds should be offered for sale on a <br /> competitive basis and has prepared a form of Notice of Sale and a proposed form of an Official <br /> Statement (the "Official Statement") describing the Bonds, to be used in connection with the <br /> marketing thereof. <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Redwood City as <br /> follows: <br /> ATTY/RESO.3069/CC RESO AUTHORIZING PROCEEDINGS&AGR—PFA <br /> REV:03-30-15 MLG <br /> Page 1 of 4 <br />