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2/9/98 ADOPTION COPY ORIGINAL RESOLUTION NO. 13281 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY PROVIDING FOR APPROVAL OF A SUB-LEASE AGREEMENT IN CONNECTION WITH TBE ISSUANCE BY TIlE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY OF 1998 LEASE REVENUE REFUNDING BONDS (CAPITAL FACILITIES PROJECT), APPROVING THE SALE OF BONDS, APPROVING OFFICIAL STATEMENT AND PROVIDING OTH'ER MATTERS PROPERLY RELATING THERETO. WHEREAS, in order to provide funds to refinance a portion of the City of Redwood City Public Financing Authority (the "Authority") 1991 Local Agency Revenue Bonds, Series A (the "1991 Bonds"), the Authority proposes to issue its 1998 Lease Revenue Refunding Bonds (Capital Facilities Project), in the aggregate principal amoum of not to exceed $14,000,000 (the "Bonds"), pursuant to an Indenture of Trust (the "Indenture"), dated as of March 1, 1998, by and between the Authority and First Trust of California, National Association, as trustee (the "Trustee"); WHEREAS, the Authority and the City propose to sub-lease and sub-lease back the Property as provided in the Sub-Lease Agreemem (the "Agreemem") dated as of March 1, 1998, by and between the Authority and the City, such sub-lease back to the City being for the purpose (among others) of providing amounts sufficiem to provide for the payment of the principal of and interest on the Bonds and such Property being further described in Exhibit A to the Agreement; WHEREAS, the Authority proposes to sell the Bonds pursuant to a negotiated sale to Dain Rauscher Incorporated (the "Underwriter"), for offer and sale by the Underwriter to members of the general public, and in connection with the offering of the Bonds, the Authority and the City caused to be prepared an Official Statement describing, among other things, the City, the Indenture, the Agreement and the Bonds, a preliminary form of which is on file with the City Clerk; WHEREAS, the Bonds will be sold pursuant to a Purchase Contract (the "purchase Contract"); and WHEREAS, the City Council has duly considered such transactions, including, without limitation, the Agreement, the Purchase Contract 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: Section 1. Issuance of Bonds. The City Council hereby approves the issuance of the Bonds by the Authority in the aggregate principal amount of not to exceed $14,000,000 for the purposes hereinbefore described. Section 2. Final Approval of Agreement. The City Council hereby provides its final approval of the sub-lease of the Property to the Authority and the sub-lease of the Property back to 13281