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28015-09 JHHW:8RC:ce 05/31/90 ,'," \ ""I' U:~;b,l\;. 1L. 89207 RESOLUTION NO. 11306 JUN 11 1990 A RESOLUTION APPROVING BOND PURCHASE CONTRACT, OFFICIAL STATEMENT AND RELATED DOCUMENTS AND AUTHORIZING ACTIONS WITH RESPECT THERETO CITY OF REDWOOD CITY Seaport Centre Assessment District-1990 RESOLVED by the City Council (the "Council") of the City of Redwood City (the "City"), County of San Mateo, State of California, that WHEREAS, on this date, Smith Barney, Harris Upham & Co. Inc. and Rauscher Pierce Refsnes, Inc. (the "Underwriters") have presented to this Council, a form of contract (the "Bond Purchase Contract') for the purchase of not to exceed $ 11,723,37 S. par value of Limited Obligation Improvement Bonds, City of Redwood City, Seaport Centre Assessment District-1990 (the "Bonds") to be issued by the City in proceedings undertaken pursuant to a Resolution of Intention to Make Acquisition and Improvements, Seaport Centre Assessment District-1990, adopted by this Council on May 7, 1990; WHEREAS, a copy of the Bond Purchase Contract is on file in the office of the City Clerk of the Council and reference is hereby made thereto for further particulars; WHEREAS, this Council has considered the Bond Purchase Contract and finds it acceptable subject to the conditions set forth in this resolution; and WHEREAS, the public interest and convenience will be served by entering into the Bond Purchase Contract. NOW THEREFORE, IT IS ORDERED as follows: 1. The Bond Purchase Contract is hereby approved and the Treasurer of the City, or such other official of the City as may be designated by this Council (the "Authorized Official"), is hereby authorized and directed to execute and deliver the Bond Purchase Contract, for and on behalf of the City, substantially in the form of the Bond Purchase Contract presented to this Council, with any changes, insertions and deletions as may be approved by Authorized Official in consultation with the Underwriters and Jones Hall Hill & White, A Professional Law Corporation, as bond counsel, with respect to these assessment proceedings, such approval to be conclusively evidenced by the execution of the Bond Purchase Contract by Authorized Official. 2. The foregoing approval is hereby expressly conditioned upon the satisfaction of the following: (i) the total principal amount of the Bonds shall not exceed $ 11,723. ns. (ii) the interest cost of the Bonds shall not exceed eight percent (8%) per annum; and (iii) the Underwriters' discount for the Bonds shall not exceed two percent (2%) of the principal amount of the bonds.