Res10 15071 - Laserfiche WebLink

Browse Search

12/06/2010 ORIGINAL RESOLUTION NO. 15071 RESOLUTION AUTHORIZING THE ISSUANCE OF SPECIAL TAX BONDS FOR AND ON BEHALF OF THE CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2010 -1 (ONE MARINA), APPROVING THE FORM OF AND DIRECTING THE EXECUTION OF A FISCAL AGENT AGREEMENT, AN ACQUISITION AGREEMENT, A CONTINUING DISCLOSURE AGREEMENT AND A BOND PURCHASE CONTRACT, APPROVING THE FORM OF OFFICIAL STATEMENT, APPROVING SALE OF BONDS, AND APPROVING OTHER RELATED DOCUMENTS AND ACTIONS WHEREAS, the City Council of the City of Redwood City (the "City ") has conducted proceedings under and pursuant to the Mello -Roos Community Facilities Act of 1982, as amended (the "Act "), to form the City of Redwood City Community Facilities District No. 2010 -1 (One Marina), City of Redwood City, County of San Mateo, California (the "District "), to authorize the levy of special taxes upon the land within the District, and to issue bonds in one or more series secured by said special taxes for the purpose of providing moneys for the construction and acquisition of improvements within the District; and WHEREAS, the City Council, as legislative body of the District, authorized the issuance of one or more series of special tax bonds of the City for the District in the maximum principal amount of not to exceed $17,000,000 designated "City of Redwood City Community Facilities District No. 2010 -1 (One Marina) Special Tax Bonds, Series 2011" (the "Bonds "); and WHEREAS, there has been submitted to the City Council a report (the "CFD Report") of David Taussig & Associates, Inc., in compliance with Section 53321.5 of the Act; and WHEREAS, there has been submitted to the City Council a form of Fiscal Agent Agreement (the "Fiscal Agent Agreement ") between the City and U.S. Bank National Association, as fiscal agent (the "Fiscal Agent "), providing for the issuance of the Bonds for the District, and the City Council, as legislative body of the District, with the aid of City staff, has reviewed the Fiscal Agent Agreement and found it to be in proper order, and now desires to approve the Fiscal Agent Agreement and the issuance of the Bonds; and WHEREAS, there has been submitted to the City Council a form of Acquisition and Reimbursement Agreement (the "Acquisition Agreement ") between the City and R.C. Peninsula Park, LLC, a Delaware limited liability company (the "Developer"), providing for the use of proceeds of the Bonds for the acquisition and funding of certain capital improvements within the District, and the City Council, as legislative body of the District, with the aid of City staff, has reviewed the Acquisition Agreement and found it to be in proper order, and now desires to approve the Acquisition Agreement and the issuance of the Bonds; and WHEREAS, the City proposes to sell the Bonds to Piper Jaffray & Co. (the "Underwriter") pursuant to the terms of a Bond Purchase Agreement (the "Bond Purchase Agreement ") between the City and the Underwriter, and the Underwriter proposes to offer the 5TTY /RESO /RES0.2070 #15071 112410 1 MUFF #505