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01/27/2014 <br /> ORIGINAL <br /> RESOLUTION NO. 15320 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> REDWOOD CITY RELATING TO 2014 WASTEWATER <br /> REVENUE BONDS, AND APPROVING RELATED DOCUMENTS <br /> AND OFFICIAL ACTIONS <br /> WHEREAS, in order to provide for the transmission, treatment and <br /> disposal of wastewater, the Cities of Belmont, Redwood City and San Carlos and <br /> the West Bay Sanitary District (collectively, the "Members") have previously <br /> entered into a Joint Exercise of Powers Agreement, dated as of November 13, <br /> 1975 (as amended, the "Joint Powers Agreement"), under which Silicon Valley <br /> Clean Water (f/k/a the South Bayside System Authority) (the "Authority") has <br /> been organized as a joint powers authority, which is a public entity separate and <br /> apart from the Members; and <br /> WHEREAS, under the Joint Powers Agreement, the Authority owns and <br /> operates a sub-regional wastewater treatment plant and related facilities which <br /> serve the Members (the "Project"), and the Commission of the Authority has <br /> approved a 10-Year Capital Improvement Program for the construction of <br /> improvements to the Project which includes improvements which benefit the City <br /> of Redwood City (the "City") and the other Members; and <br /> WHEREAS, in order to provide financing for the Project at this time, the <br /> Authority has proposed to issue its Silicon Valley Clean Water (San Mateo <br /> County, California) 2014 Wastewater Revenue Bonds in the aggregate principal <br /> amount of not to exceed $85,000,000 (the "2014 Bonds"), in accordance with the <br /> Financing Agreement (as defined below); and <br /> WHEREAS, the City Council of the City has previously approved a <br /> financing agreement, dated as of December 1, 2008, between the City and the <br /> Authority (the "Financing Agreement") in order to facilitate the issuance of tax <br /> exempt bonds, notes or other obligations in series from time to time in <br /> accordance with the Joint Powers Agreement and the laws of the State of <br /> California and to implement provisions of the Joint Powers Agreement with <br /> respect to the repayment of, and to provide adequate security for, such <br /> obligations; and <br /> ATTY/RE50.2940/WASTEWATER REVENUE BONDS 2014 RESO.#15320 <br /> REV:01-17-14 PT MUFF#304 <br /> Page 1 of 4 <br />