Res03 14543 - Laserfiche WebLink

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07/28/2003 WHEREAS, in order to implement the issuance of the Bonds, the following documents have been prepared and presented at this meeting, copies of which are on file with the Clerk of the City: (a) a First Supplemental Fiscal Agent Agreement (the "Fiscal Agent Agreement ") between the District and BNY Western Trust Company as fiscal agent (the "Fiscal Agent "); (b) a Continuing Disclosure Certificate (the "Continuing Disclosure Certificate ") related to the Bonds; (c) a Bond Purchase Contract (the "Bond Purchase Contract ") between the District and Stone & Youngberg LLC (the "Underwriter "); and (d) a Preliminary Official Statement pertaining to the Bonds (the "Preliminary Official Statement "); and WHEREAS, the Council, acting as the legislative body of the District, has determined in accordance with Government Code Section 53360.4 that a negotiated sale of the Bonds to the Underwriter in accordance with the terms of the Bond Purchase Contract will result in a lower overall cost to the District than a public sale. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, A MUNICIPAL CORPORATION OF THE STATE OF CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF THE DISTRICT, AS FOLLOWS: SECTION 1. Recitals The above recitals are true and correct and are incorporated herein and made part of this Resolution. SECTION 2. Authorization to Issue Bonds For the purpose of financing a portion of the Facilities and Incidental Expenses, the Council, acting as the legislative body of the District, hereby authorizes the issuance of the Bonds in an aggregate principal amount not to exceed $8,490,000, with the exact principal amount of the Bonds to be set forth in the Bond Purchase Contract as finally executed. The Council hereby determines that it is prudent in the management of the District's fiscal affairs to FATTY /RESO /RES0.1407 14543 071403 4