Res86 10209 - Laserfiche WebLink

Browse Search

28016-4 JHHW:WHM:mcb ~J/17/86 :mcb 05/01/86 :mcb 05/12/86 M4507 RESOLUTION NO. 10209 MAY 1 9 1986 ORIGINAL A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AUTHORIZING AND DIRECTING THE EXECUTION OF CERTAIN AGREEMENTS IN CONNECTION WITH THE FINANCING OF CERTAIN CAPITAL IMPROVEMENTS WHEREAS, the City has heretofore determi ned to acqu i re and construct a fire station, a library, the renovation of city hall, the installation of a culvert, a telephone system and other pUblic improvements (the "Projects") and related improvements through the Redwood City Public Facilities and Infrastructure Authority (the "Authority"); and WHEREAS, to commence acquisition and construction of the Projects and re 1 ated improvements, it is necessary to authori ze the conveyance of certain real property attached hereto as Exhibit A (the "Leased Premises") to a purchaser to be designated after receipt of bids for the Leased Premises in conformity with Section 3-1/2 of the City's Charter (the "Purchaserll) at a purchase price of $13,995,000, payable at a date to be mutually agreed upon between the City and the Purchaser, so long as the Purchaser authorizes execution of the Lease Agreement (the "Lease"), dated as of June 15, 1986, by and between the City and the Purchaser, whereby the Purchaser wi 11 lease the Leased Premises to the City for lease payments specified therein, which conveyance and Lease will be approved by an ordinance duly adopted by the City. NOW, THEREFORE, the City Council of the City of Redwood City DOES HEREBY RESOLVE AND ORDER as follows: SECTION 1. The foregoing recitals are true and correct and the Council so finds and determines. SECTION 2. That certain Capital Account Agreement, dated as of June 15, 1986, by and between the City and the Authority, pursuant to which the City agrees to use the proceeds of the sale of the Leased Premi ses to acqu i re and construct the Projects, is hereby approved, and the City Manager and City Clerk are hereby authorized and directed to execute, attest and seal the same on behalf of the City, in substantially now before this Council, but with changes, modifications, additions or deletions therein from the form and content of the Lease now before this Council, and that from and after the execution, attestation, sealing and delivery of the same, the City Manager and City Clerk are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the respective provisions of the Lease as executed. SECTION 3. The Official Statement, in substantially the form presented to this City, is hereby approved, and the City Manager is hereby authorized and directed to execute and attest the same on behalf of the City, in substantially the form now before the City, but with such changes, modifications, additions or deletions therein as shall seem necessary, desirable or appropriate to the City () t~ ,~ ,;} V ~