AgdaPkt 2015-04-13 Closed and Joint SA and PFA REVISED 04_10_2015

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ATTA 8.B. - Page 4 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING THE ISSUANCE OF PORT OF REDWOOD CITY REFUNDING REVENUE BONDS PURSUANT TO THE CITY CHARTER WHEREAS, the Port Department of the City of Redwood City (the "Port") is a duly constituted department of the City of Redwood City (the "City") and the Board of Port Commissioners of the Port has exclusive control, management supervision and jurisdiction of the Port Department of the City, the Port of Redwood City and the Port Area of the City, and is the governing body of said Port, Port of Redwood City and Port Area, all as provided for and defined in Sections 47 through 50b of the Charter of the City; and is authorized by said Charter and by Government Code Section 54300 et seq. and other laws of the State of California (collectively, the "Bond Law")to issue bonds for the purpose of financing and refinancing the acquisition, construction and repair of Port facilities and improvements; and WHEREAS, the Board of Port Commissioners of the Port and the California Department of Boating and Waterways ("DBW") previously entered into a contract dated January 20, 1991 (Contract No. 91-102-204), as amended by a First Amendment to Contract dated March 20, 1993, a Second Amendment to Contract dated May 1, 1994 and a Third Amendment to Contract dated March 3, 1999 (collectively, the "DBW Contract"), pursuant to which DBW made a loan to the Board of Port Commissioners of the Port in the amount of $880,000 and the Board of Port Commissioners of the Port agreed to repay the loan; and WHEREAS, the Board of Port Commissioners of the Port previously entered into that certain Master Indenture, dated as of April 1, 1999 (the "Master Indenture"), by and ATTY/RES0.3072/CC RESO APPROVING ISSUANCE OF PORT REFUNDING REVENUE BONDS REV:04-01-15 MLG Page 1 of 4