My WebLink
|
Help
|
About
|
Sign Out
Browse
Search
Res13 15264
RedwoodCity
>
City Clerk
>
Resolutions
>
City Council
>
Working
>
2010-2019
>
Res13 15264
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/11/2019 7:49:22 AM
Creation date
10/11/2019 7:49:21 AM
Metadata
Fields
Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Public Finance Authority
Date
5/20/2013
Description
RESOLUTION NUMBER 15264 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY RELATING TO THE REFUNDING OF THE CITY'S OBLIGATIONS WITH RESPECT TO THE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY LEASE REVENUE BONDS, SERIES 2003, APPROVING RELATED FINANCING DOCUMENTS, AND AUTHORIZING OFFICIAL ACTIONS the City of Redwood City Public Financing Authority is a joint powers authority duly organized and existing under and pursuant to that certain Joint Exercise of Powers Agreement dated as of June 18, 1991, by and between the City of Redwood City (the "City") and the City of Redwood City Redevelopment Agency, and under the provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "Act"), and is authorized pursuant to Article 4 of the Act to borrow money to provide financing and refinancing for public capital improvements of the City; and
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
4
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
05/20/2013 <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Redwood <br /> City as follows: <br /> Section 1. Findinqs and Determinations. The City Council finds and <br /> determines that it is in the prudent management of the fiscal affairs of the City that the <br /> refinancing of the 2003 Bonds will result in savings in effective interest rates, <br /> underwriting costs and bond insurance costs and thereby result in significant public <br /> benefits within Section 6586 of the Act. <br /> Section 2. Approval of Financing Documents. The City Council hereby <br /> approves each of the following documents in substantially the respective forms on file <br /> with the City Clerk, together with such additions thereto and changes therein deemed <br /> advisable by the Mayor, Vice Mayor, City Manager or Director of Finance, or their <br /> respective designated representatives (each, an "Authorized Officer"), upon consultation <br /> with the City Attorney and special counsel, whose execution thereof shall be conclusive <br /> evidence of the approval of any such additions and changes: <br /> (a) the Lease Agreement, currently dated as of June 1, 2013, between <br /> the City and the Authority; and <br /> (b) the Site and Facility Lease, currently dated as of June 1, 2013, <br /> between the City and the Authority; and <br /> (c) the Termination Agreement, currently dated as of June 1, 2013, <br /> between the City and the Authority; and <br /> (d) the Letter Agreement for Purchase, currently dated the date of <br /> closing, among the City, the Authority and the Bank; and <br /> (e) the Memorandum of Lease Agreement, currently dated as of June <br /> 1, 2013, between the City and the Authority; and <br /> (fl the Escrow Instructions relating to the 2003 Bonds, currently dated <br /> as of June 1, 2013, from the Authority and the City to The Bank of New York Mellon <br /> Trust Company, N.A., as escrow agent thereunder. <br /> An Authorized Officer is hereby authorized and directed to execute, and the City <br /> Clerk is hereby authorized and directed to attest to, the final forms of each of the above- <br /> mentioned documents for and in the name and on behalf of the City; provided that the <br /> aggregate principal component of the portion of the Lease Payments due under the <br /> Lease Agreement shall not exceed $3,360,000 and net present value savings shall not <br /> be less than 3%. <br /> ATTY/RES0.2853/PFA LEASE REVENUE BONDS CfTY RESO RESO.#15264 <br /> REV:05-09-13 PT MUFF#505 <br /> Page 2 of 3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.