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9/21/98 ORIGINAL ADOPTION COPY RESOLUTION NO. 13463 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY PROVIDING FOR APPROVAL OF A LEASE AGREEMENT IN CONNECTION WITH THE EXECUTION AND DELIVERY OF CITY OF REDWOOD CITY VARIABLE RATE DEMAND CERTIFICATES OF PARTICIPATION (CITY HALL PROJECT), APPROVING THE SALE OF CERTIFICATES, APPROVING A TRUST AGREEMENT, A GROUND LEASE, A REIMBURSEMENT AGREEMENT, CONTRACT OF PURCHASE, A REMARKETING AGREEMENT AND AN OFFICIAL STATEMENT AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO. WHEREAS, the City of Redwood City (the "City") has constructed and acquired certain city hall facilities (the "City Hall Project") with funds temporarily available therefor; WHEREAS, in order to provide funds to reimburse such temporarily available funds and to finance the City Hall Project on a permanent basis, the City of Redwood City Public Financing Authority (the "Authority") proposes to cause to be executed and delivered Variable Rate Demand Certificates of Participation (City Hall Project), in the aggregate principal amount of not to exceed $11,700,000 (the "Certificates"),pursuant to an Trust Agreement (the "Trust Agreement"), dated as of October 1, 1998, by and among the City, the Authority and U.S. Bank Trust National Association, as trustee (the "Trustee"); WHEREAS, the Authority and the City of Redwood (the "City") propose to lease and lease back the City Hall Project as provided in the Lease Agreement (the "Agreement") dated as of October 1, 1998, by and between the Authority and the City, such lease back to the City being for the purpose (among others) of providing amounts sufficient to provide for the payment of the principal of and interest evidenced by the Certificates; WHEREAS, the City proposes to sell the Certificates pursuant to a negotiated sale to Stone & Youngberg LLC (the "Underwriter") pursuant to a Contract of Pumhase between the City and the Underwriter, for offer and sale by the Underwriter to members of the general public, and in connection with the offering of the Certificates, the City caused to be prepared an Official Statement describing, among other things, the City, the Trust Agreement, the Agreement, the Ground Lease, the ReimbursementAgreement, the Contract of Pumhase, the Remarketing Agreement and the Certificates, preliminary forms of which are on file with the City Clerk; and WHEREAS, the City Council has duly considered such transactions, including, without limitation, the agreements described above and the Official Statement, and wishes at this time to approve said transactions in the public interests of the City; NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE CITY COUNCIL OF THE CITY OF REDWOOD CITY, AS FOLLOWS: 11795.2~22931.0002