Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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INSTALLMENT PURCHASE CONTRACT This INSTALLMENT PURCHASE CONTRACT, dated as of May 1, 2015 (the "Instaliment Purchase Contract"), between the CITY OF REDWOOD CITY, a charter city and municipal corporation duly vrganized and existing under its charter and the Constitution and laws of the State of California (the "City"), and the CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, a joint powe�s authority, operating and acting pursuant to the laws of the State of California (the "Authority"); WITNESSETH: WHEREAS, the City is authorized by its Charter and the laws of the State of California to acquire certain improvements (the "Project") to the Ciry's water system (the "Enterprise") and to finance and, refinance the construction of such facilities through, the execution of installment pu�chase contracts; and WHEREAS, in order to finance the Project, the City and the Authority previously entered into an Installment Purchase Contract, dated as of February 1, 2006 (the "2006 Installment Purchase ContracY'); and WHEREAS, the Authority is authorized under the Marks Roos Local Bond Pooling Act of 1985 (commencing with Section 6584 of the California Government Code} (the "Act") to incur indebtedness to finance and refinance public capital improvements (as such term is defined in the Act); and WHEREAS, the City has determined that it is in the best interests of the City and its citizens, and is necessary and proper for Ciry purposes, that the City refinance its obligations under the 2006 Installment Purchase Contract in the manner described herein, and that the City pay the Authority for the costs of the Project in the manner described herein; and WHEREAS, all acts, conditions and things required by law to exist, to have happened and to have been performed precedent to and in connection with the execution and ente�ing into of this Installment Purchase Contract do exist, have happened and have been performed in regular and due time, form and manner as required by law, and the parties hereto are now duly authorized to execute and enter into this Installment Purchase Contract; NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND OF THE MUTUAI AGREEMENTS AND COVENANTS CONTAINED HEREIN AND FOR OTHER VALUABLE CONSIDERATION, THE PARTIES HERETO DO HEREBY AGREE AS FOLLOWS: