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07/25/2016 <br /> WHEREAS, such public hearing was conducted on such date, at which time an <br /> opportunity was provided to interested parties to present arguments both for and against the <br /> issuance of the Bonds; and <br /> WHEREAS, the Authority is also requesting that the City Council approve the <br /> issuance of any refunding bonds hereafter issued by the Authority for the purpose of <br /> refinancing the Bonds which financed the Project (the "Refunding Bonds"), but only in <br /> such cases where federal tax laws would not require additional consideration or approval <br /> by the City Council; and <br /> WHEREAS, it is intended that this resolution shall constitute the approval of the <br /> issuance of the Bonds required by Section 147(fl of the Code and Section 9 of the <br /> Agreement; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF REDWOOD CITY AS FOLLOWS: <br /> Section 1. The above recitals are true and correct. <br /> Section 2. The City Council hereby approves the issuance of the Bonds and the <br /> Refunding Bonds by the Authority. It is the purpose and intent of the City Council that this <br /> resolution constitute approval of the Bonds for the purposes of(a) Section 147(fl of the Code <br /> and (b) Section 9 of the Agreement. <br /> Section 3. The officers of the City are hereby authorized and directed, jointly and <br /> severally, to do any and all things and to execute and deliver any and all documents that <br /> they deem necessary or advisable in order to carry out, give effect to and comply with the <br /> terms and intent of this resolution and the financing approved hereby. <br /> Section 4. This resolution shall take effect immediately upon its passage. <br /> * * * <br /> ATTY/RES0.0067/CC RESO APPROVING THE ISSUANCE OF BONDS—HALLMARK HOUSE RE50.NO.15514 <br /> REV:07-13-16 VR MUFF N0.404 <br /> Page 2 of 3 <br />