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7.A. - Page 5 of 6 <br />WHEREAS, the Authority is also requesting that the City Council approve the <br />issuance of any refunding bonds hereafter issued by the Authority for the purpose of <br />refinancing the Bonds which financed the Project (the "Refunding Bonds"), but only in <br />such cases where federal tax laws would not require additional consideration or approval <br />by the City Council; and <br />WHEREAS, it is intended that this resolution shall constitute the approval of the <br />issuance of the Bonds required by Section 147(f) of the Code and Section 9 of the <br />Agreement. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br />Section 1. The above recitals are true and correct. <br />Section 2. The City Council hereby approves the issuance of the Bonds and the <br />Refunding Bonds by the Authority. It is the purpose and intent of the City Council that this <br />resolution constitute approval of the Bonds for the purposes of (a) Section 147(f) of the Code <br />and (b) Section 9 of the Agreement. <br />Section 3. The officers of the City are hereby authorized and directed, jointly and <br />severally, to do any and all things and to execute and deliver any and all documents that <br />they deem necessary or advisable in order to carry out, give effect to and comply with the <br />terms and intent of this resolution and the financing approved hereby. <br />Section 4. This resolution shall take effect immediately upon its passage. <br />AYES: <br />NOES: <br />ABSENT: <br />ABSTAINED: <br />ATTEST: <br />City Clerk <br />Page 2 of 2 <br />ATTY/RESO.0007/HALLMARK HOUSE APARTMENTS <br />REV: 02-06-20 RL <br />Mayor <br />345 <br />