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<br />1/23/2006 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. 14691 <br /> <br />A RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD <br />CITY AUTHORIZING PROCEEDINGS AND AGREEMENTS RELATING <br />TO THE FINANCING OF CERTAIN WATER FACILITIES, APPROVING <br />ISSUANCE AND SALE OF BONDS BY THE CITY OF REDWOOD CITY <br />PUBLIC FINANCING AUTHORITY, APPROVING AN OFFICIAL <br />STATEMENT AND AUTHORIZING OFFICIAL ACTIONS <br /> <br />WHEREAS, the City of Redwood City Public Financing Authority is a joint powers <br /> <br />authority duly organized and existing under and pursuant to that certain Joint Exercise of <br /> <br />Powers Agreement dated as of June 18, 1991, by and between the City of Redwood City <br />(the "City") and the City of Redwood City Redevelopment Agency (the "Agency"), and <br /> <br />under the provisions of Articles 1 through 4 (commencing with Section 6500) of <br /> <br />Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the <br /> <br />"Act"), and is authorized pursuant to Article 4 of the Act (the "Bond Law") to borrow <br /> <br />money for the purpose of financing the acquisition of bonds, notes and other obligations <br /> <br />of the City or the Agency to provide financing and refinancing for public capital <br /> <br />improvements of the City or the Agency; and <br /> <br />WHEREAS, the City has requested that the Authority issue its revenue bonds <br /> <br />(the "Bonds") for the purpose of providing funds to enable the City to finance the <br /> <br />construction and acquisition costs of certain improvements (the "Project") to the City's <br /> <br />water system (the "Enterprise"); and <br /> <br />WHEREAS, to provide such financing for the Project the Authority proposes to <br /> <br />issue the Bonds in an aggregate original principal amount of not to exceed $26,000,000 <br /> <br />under the provisions of Article 4 (commencing with Section 6584) of Chapter 5 of <br /> <br />Division 7 of Title 1 of the Government Code of the State of California (the "Act"), which <br /> <br />Atty/Reso/Reso.1589 <br />011006 <br /> <br />1 <br /> <br />14691 <br />Muff # 505 <br />