Laserfiche WebLink
11 1191KIIl6!] <br />RESOLUTION NO. 15759 <br />RESOLUTION OF THE CITY COUNCIL OF REDWOOD CITY <br />APPROVING THE ISSUANCE OF UP TO $64 MILLION OF SOLID <br />WASTE ENTERPRISE REVENUE BONDS TO REFINANCE <br />OUTSTANDING BONDS OF THE SOUTH BAYSIDE WASTE <br />MANAGEMENT AUTHORITY AND TO FINANCE CERTAIN <br />IMPROVEMENTS TO THE SOLID WASTE MANAGEMENT FACILITIES <br />OF THE SOUTH BAYSIDE WASTE MANAGEMENT AUTHORITY <br />WHEREAS, the City of Redwood City is one of twelve equity members of the <br />South Bayside Waste Management Authority (SBWMA), as further described in the First <br />Amended and Restated Joint Exercise of Powers Agreement dated December 19, 2005 <br />(Agreement); and <br />WHEREAS, SBWMA has proposed the issuance of solid waste enterprise <br />revenue bonds in one or more series to (i) refund SBWMA's Solid Waste Enterprise <br />Revenue Bonds (Shoreway Environmental Center), Series 2009A, currently outstanding <br />in the principal amount of $44,685,000; (ii) pay the cost of certain improvements to <br />SBWMA's solid waste management facilities located in the City of San Carlos; (iii) fund <br />a deposit to the reserve account; and (iv) pay costs of issuance of the bonds. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AS FOLLOWS: <br />1. Pursuant to Section 7.1.1(d) of the Agreement, the City Council of the City <br />of Redwood City approves the issuance by SBWMA of solid waste enterprise revenue <br />bonds in an amount not to exceed $64 million. <br />ATTY/RESO.0043/CC RESO APPROVING THE ISSUANCE OF UP TO $64 MILLION OF SOLID WASTE ENTERPRISE REVENUE BONDS <br />REV: 04-30-19 PR RESO, NO. 15759 <br />MUFF NO. 505 <br />Page 1 of 1 <br />