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<br />1/23/2006 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. PFA 06-01 <br /> <br />A RESOLUTION OF THE CITY OF REDWOOD CITY PUBLIC <br />FINANCING AUTHORITY AUTHORIZING THE ISSUANCE OF NOT TO <br />EXCEED $26,000,000 PRINCIPAL AMOUNT OF WATER REVENUE <br />BONDS, SERIES 2006A, AUTHORIZING AND DIRECTING EXECUTION <br />OF AN INDENTURE OF TRUST AND AN INSTALLMENT PURCHASE <br />CONTRACT, AUTHORIZING THE SALE OF BONDS PURSUANT TO A <br />NOTICE OF SALE, APPROVING AN OFFICIAL STATEMENT AND <br />PROVIDING OTHER MA TIERS PROPERLY RELATING THERETO <br /> <br />WHEREAS, the City of Redwood City Public Financing Authority (the "Authority") <br /> <br />is a joint powers authority duly organized and existing under and pursuant to that certain <br /> <br />Joint Exercise of Powers Agreement dated as of June 18, 1991, by and between the <br /> <br />City of Redwood City (the "City") and the City of Redwood City Redevelopment Agency <br /> <br />(the "Agency"), and under the provisions of Articles 1 through 4 (commencing with <br /> <br />Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State <br /> <br />of California (the "Act"), and is authorized pursuant to Article 4 of the Act (the "Bond <br /> <br />Law") to borrow money for the purpose of financing the acquisition of bonds, notes and <br /> <br />other obligations of the City or the Agency to provide financing and refinancing for public <br /> <br />capital improvements of the City or the Agency; and <br /> <br />WHEREAS, the Authority has determined that it is in the interests of the Authority <br /> <br />and the City at this time to provide for the financing of the acquisition and construction <br /> <br />of certain improvements (the "Project") to the City's water system (the "Enterprise"), as <br /> <br />described in the Installment Purchase Contract (defined herein); and <br /> <br />WHEREAS, in order to provide funds to finance the project, the Authority <br /> <br />proposes to issue its City of Redwood City Public Financing Authority Water Revenue <br /> <br />A TTY/RESO/RESO.1590 <br />011006 <br /> <br />1 <br /> <br />PFA 06-01 <br />Muff # 505 <br />