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<br />28015-10 <br /> <br />JHHW,SRC,ce 04/03/90 <br /> <br />S8954 <br /> <br />l( l~: j ?,; ,\ i <br />f ~ ,,~ 4 t I -6 J.\ :.. <br /> <br />RESOLUTION NO. 1 1 2 6 2 <br /> <br />APR - 9199U <br /> <br />A RESOLUTION APPROVING BOND PURCHASE CONTRACT, OFFICIAL <br />STATEMENT AND RELATED DOCUMENTS AND AUTHORIZING ACTIONS <br />WITH RESPECT THERETO <br /> <br />CITY OF REDWOOD CITY <br />Seaport Boulevard Assessment District <br />(Reassessment and Refunding of 1990) <br /> <br />RESOLVED by the City Council (the "Council") of the City of Redwood City (the <br />"City"), County of San Mateo, State of California, that <br /> <br />WHEREAS, on this date, Smith Barney, Harris Upham & Co. Inc. and Rauscher <br />Pierce Refsnes, Inc. (the "Underwriters") have presented to this Council, a form of <br />contract (the "Bond Purchase Contract') for the purchase of not to exceed $6,025,000 par <br />value of Limited Obligation Refunding Improvement Bonds, City of Redwood City, <br />Seaport Boulevard Assessment District (Reassessment and Refunding of 1990) (the <br />"Bonds") to be issued by the City in proceedings undertaken pursuant to a Resolution of <br />Intention to Levy Reassessments and to Issue Refunding Bonds Upon the Security <br />Thereof, Seaport Boulevard Assessment District (Reassessment and Refunding of 1990) <br />adopted by this Council on April 9, 1990; <br /> <br />WHEREAS, a copy of the Bond Purchase Contract is on file in the office of the <br />City Clerk of the Council and reference is hereby made thereto for further particulars; <br /> <br />WHEREAS, this Council has considered the Bond Purchase Contract and finds it <br />acceptable subject to the conditions set forth in this resolution; and <br /> <br />WHEREAS, the public interest and convenience will be served by entering into the <br />Bond Purchase Contract. <br /> <br />NOW THEREFORE, IT IS ORDERED as follows: <br /> <br />1. The Bond Purchase Contract is hereby approved and the Treasurer of the City, <br />or such other official of the City as may be designated by this Council (the "Authorized <br />Official"), is hereby authorized and directed to execute and deliver the Bond Purchase <br />Contract, for and on behalf of the City, substantially in the form of the Bond Purchase <br />Contract presented to this Council, with any changes, insertions and deletions as may be <br />approved by Authorized Official in consultation with the Underwriters and Jones Hall Hill <br />& White, A Professional Law Corporation, as bond counsel, with respect to these <br />assessment proceedings, such approval to be conclusively evidenced by the execution <br />of the Bond Purchase Contract by Authorized Official. <br /> <br />2. The foregoing approval is hereby expressly conditioned upon the satisfaction <br />of the following: (i) the total principal amount of the Bonds shall not exceed $6,025,000; <br />(ii) the interest cost of the Bonds shall not exceed eight percent (8%) per annum; and <br />