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INDENTURE OF TRUST
<br /> This INDENTURE OF TRUST (the "Indenture"), dated as of May 1, 2015, by and
<br /> between the CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, a joint powers
<br /> autho�ity, operating and acting pursuant to the laws of the State of California (the °Authority")
<br /> and U.S. BANK NATIONAL ASSOCIATION, a national banking association duly organized and
<br /> existing under and by virtue of the laws of the United States of America, as trustee (the
<br /> "Trustee"). �
<br /> WITNESSETH:
<br /> WHEREAS, the Authority has determined that it is in the interests of the Authority and
<br /> the City of Redwood City (the "City") at this time to provide for the refinancing of the acquisition
<br /> and construction of certain improvements (the "ProjecY) to the City's water system (the
<br /> "Enterprise"), as described in Exhibit A to the Installment Purchase Contract (defined belowj;
<br /> and
<br /> WHEREAS, in order to finance the Project, the City and the Authority have previously
<br /> entered into an Installment Purchase Contract, dated as of February 1, 2006 (the "2006
<br /> 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
<br /> the original principal amount of $26,000,000, of which $20,705,000 remains outstanding (the
<br /> "Prior Bonds°), secured by payments made by the City pursuant to the 2006 Installment
<br /> Purchase Contract; and
<br /> WHEREAS, in order to provide moneys to pr�pay the City's obligations under the 2006
<br /> Installment Purchase Contract, the City and the Authority have entered into that certain
<br /> Installment Purchase Contract, dated as of May 1, 2015 (the "Installment Purchase ContracY);
<br /> and
<br /> WHEREAS, the Authoriry is authorized under the Marks Roos Local Bond Pooling Act of
<br /> 1985 (commencing with Section 6584 of the California Government Code) (the "Act") to incur
<br /> indebtedness to refinance public capital improvements (as such term is defined in the Act); and
<br /> WHEREAS, in order to refinance the Prior Bonds, the Authority has decided to issue its
<br /> Water Revenue Refunding Bonds, Series 2015 in an aggregate principal amount of
<br /> $20,235,000, secured by the Revenues (as provided herein); and
<br /> WHEREAS, the Authority hereby certifies that all acts, conditions and things required by
<br /> law to exist, to have happened and to have been performed precedent to and in connection with
<br /> the execution and entering into of this Indenture by such party does exist, have happened and
<br /> have been performed in regular and due time, form and manner as required by law, and the
<br /> parties hereto are now duly authorized to execute and enter into this Indenture;
<br /> NOW, THEREFORE, IN CONSIDERATION OF THE PROMISES AND OF THE
<br /> MUTUAL AGREEMENTS AND COVENANTS CONTAINED HEREIN AND FOR OTHER
<br /> VALUABLE CONSIDERATION, THE PARTIES HERETO DO HEREBY AGREE AS FOLLOWS:
<br />
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