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U, copy 6/24/91 <br />$FS LiZTlQN NQ. 11547 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY AUTHORIZING THE LEASE PURCHASE FINANCING OF VARIOUS <br />MUNICIPAL IMPROVEMENTS AND THE REFINANCING OF THE CITY'S <br />OBLIGATIONS UNDER A 1986 LEASE AGREEMENT, AUTHORIZING <br />AND DIRECTING THE EXECUTION OF RELATED LEASE AGREEMENT, <br />APPROVING SALE OF BONDS AND AUTHORIZING OFFICIAL ACTIONS <br />WHEREAS, the City of Redwood City (the "City") and the <br />Redevelopment Agency of the City of Redwood City (the "Agency") <br />have heretofore entered into a Joint Exercise of Powers Agreement <br />dated June 10, 1991, establishing the City of Redwood City Public <br />Financing Authority (the "Authority") for the purpose, among <br />others, of issuing its bonds to be used to provide financial <br />assistance to the City and the Agency; and <br />WHEREAS, the City has requested the Authority to assist in <br />the financing of municipal improvements including construction of <br />a new police facility (the "Project") and to assist in the <br />refinancing of the City's obligations under that certain Lease <br />Agreement dated as of June 15, 1986, by and between the Redwood <br />City Public Facilities and Infrastructure Authority as lessor and <br />the City as lessee (the "1986 Lease"), and the Agency has <br />requested the Authority to assist in the financing of various <br />redevelopment activities relating to Redevelopment Project No. 2, <br />including various low and moderate income housing projects; and <br />WHEREAS, for the purpose of raising funds necessary to <br />provide such financial assistance to the City and the Agency, the <br />Authority proposes to authorize the issuance of its Redwood City <br />Public Financing Authority 1991 Local Agency Revenue Bonds in an <br />N <br />