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<br />DBS:djg-c 7/21/83 <br /> <br />ORIGINAL <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. 9 391. <br /> <br />JUL 2 5 '1983 <br /> <br />RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY <br />APPROVING A FINANCING PLAN FOR THE CONSTRUCTION AND <br />ACQUISITION OF CERTAIN WHARF FACILITIES FOR THE PORT <br />OF REDWOOD CITY INCLUDING THE ISSUANCE OF CERTIFICATES <br />OF PARTICIPATION IN CONNECTION THEREWITH <br /> <br />WHEREAS, the Board of Port Commissioners of the City of <br /> <br />Redwood City has presented to this Council a financing plan for <br /> <br />the construction and acquisition of those certain wharf facilities <br /> <br />and appurtenances designated "Wharf No.4" (hereinafter, the <br /> <br />"Wharf Facilities"); and <br /> <br />WHEREAS, said financing plan includes a proposal for the <br /> <br />issuance of certificates of participation in the principal amount <br /> <br />of not to exceed $1,600,000, the interest earned on which <br /> <br />certificates lS intended to qualify for income tax exempt status <br /> <br />in the hands of the purchasers thereof pursuant to applicable <br /> <br />taxation laws and regulations; and <br /> <br />WHEREAS, in order to qualify for such status under Section <br /> <br />103(k) of the Internal Revenue Code it is necessary that approval <br /> <br />for the issuance of such certificates be obtained from the <br /> <br />applicable elected representative having jurisdiction over the <br /> <br />area in which the Wharf Facilities are located; and <br /> <br />WHEREAS, this Council is the "applicable elected <br /> <br />representative" as specified in said Section 103(k) with respect <br /> <br />to the aforementioned financing; and <br /> <br />WHEREAS, on July 25, 1983 following due notice, a public <br /> <br />9391 <br />