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01/23/2017
<br />WHEREAS, in connection with the offering of the Bonds, the Authority and the City have
<br />caused to be prepared a preliminary Official Statement (the "Official Statement") describing,
<br />among other things, the City, the Indenture, the City's municipal water enterprise, the Refunded
<br />Bonds, the Installment Purchase Contract and the Bonds, a preliminary form of which is on file
<br />with the Secretary of the Authority; and
<br />WHEREAS, the Authority wishes to authorize the City Manager or her designee to
<br />determine, after consultation with the financing team, whether the Bonds should be sold on a
<br />competitive basis using a Notice of Sale or on a negotiated basis using a Bond Purchase
<br />Agreement; and
<br />WHEREAS, the Authority has duly considered such transactions, including, without
<br />limitation, the Indenture, the Notice of Sale, the Bond Purchase Agreement, the Installment
<br />Purchase Contract and the Official Statement, and wishes at this time to approve said
<br />transactions in the public interests of the Authority.
<br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE CITY
<br />OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, AS FOLLOWS:
<br />Section 1. Findings. The findings set forth in the recitals hereof are true and correct.
<br />Section 2. Issuance of Bonds: ADDroval of Indenture. The Authority hereby authorizes
<br />the issuance of the Bonds under and pursuant to the Act and the Indenture in the aggregate
<br />principal amount of not to exceed $12,200,000 for the purposes hereinbefore described. The
<br />Authority hereby approves the Indenture in the form on file with the Secretary together with any
<br />additions thereto or changes therein deemed necessary or advisable by the Chairperson, Vice
<br />Chairperson, Secretary or Auditor/Treasurer, or their respective designated representatives
<br />(each, an "Authorized Officer'), upon consultation with Authority counsel and Jones Hall, A
<br />Professional Law Corporation ("Bond Counsel'), and execution thereof by the Chairperson or the
<br />Vice Chairperson, and attestation by the Secretary, shall be conclusive evidence of the approval
<br />of any such additions and changes. Such changes and additions shall include, without limitation,
<br />the insertion in the Indenture of the final annual maturities and final aggregate principal amount
<br />of the Bonds and the final annual interest rates payable with respect to the Bonds. The
<br />Chairperson and the Vice Chairperson, acting alone, is each hereby authorized and directed to
<br />execute, and the Secretary Is hereby authorized and directed to attest, the final form of the
<br />Indenture for and in the name and on behalf of the Authority. The Authority hereby authorizes the
<br />delivery and performance of the Indenture.
<br />Section 3. ADDroval of Installment Purchase Contract. The Authority hereby approves
<br />the purchase and sale of the Project to the City pursuant to and in accordance with the Installment
<br />Purchase Contract in the form on file with the Secretary, together with any additions thereto or
<br />changes therein deemed necessary or advisable by the Authorized Officers, upon consultation
<br />with Authority counsel and Bond Counsel, whose execution thereof shall be conclusive evidence
<br />of approval of any such additions and changes. The Chairperson and the Vice Chairperson, acting
<br />alone, is each hereby authorized and directed to execute, and the Secretary is hereby authorized
<br />and directed to attest, the final form of the Installment Purchase Contract for and in the name and
<br />on behalf of the Authority. The Authority hereby authorizes the delivery and performance of the
<br />Installment Purchase Contract.
<br />Section 4. Sale of Bonds. The Authority hereby authorizes the sale of the Bonds and
<br />delegates to each of the Authorized Officers the authority to accept an offer from an underwriter
<br />ATTY/RESO.0010/PFA RESO AUHTORIZING WATER REVENUE REFUNDING BOND SERIES 2017 RESO. NO. PFA -17-01
<br />REV: 01-19-17 JS MUFF NO. 505
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