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6.A. - Page 16 of 29 <br />RESOLUTION NO. 15766 <br />05/20/2019 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY APPROVING DEBT DISCLOSURE POLICIES AND PROCEDURES <br />FOR THE CITY <br />WHEREAS, the City of Redwood City ("City") is a municipal bond issuer, and as <br />such, is subject to certain legal and contractual requirements relating to the disclosure of <br />information to investors at the time of initial issuance of bonds and on a continuing basis <br />thereafter; and <br />WHEREAS, the United States Securities and Exchange Commission has stressed <br />the importance of municipal issuers adopting written disclosure policies and procedures <br />to ensure the accurate and timely communication of material information to municipal <br />market investors; and <br />WHEREAS, in order to facilitate compliance with federal securities laws and <br />existing continuing disclosure contracts, it is advisable for the City to adopt disclosure <br />policies and procedures that formally confirm and enhance the City's existing policies and <br />procedures; and <br />WHEREAS, all conditions, things and acts required to exist, to have happened and <br />to have been performed precedent to and the documents referred to herein exist, have <br />happened and have been performed in due time, form, and manner as required by the <br />laws of the State of California; and <br />WHEREAS, the City adopted Resolution 15493 on May 23, 2016, approving Debt <br />Disclosure Policies and Procedures for the City; and <br />WHEREAS, City staff has updated the Debt Disclosure Policies and Procedures <br />and presented them to Council on May 20, 2019. <br />NOW THEREFORE, BE IT RESOLVED by the Council of the City of Redwood <br />City, as follows: <br />Section 1. The City Council hereby approves the updated Debt Disclosure <br />Policies and Procedures in the form on file with the City Clerk and attached hereto as <br />Exhibit A and incorporated herein by reference. <br />Section 2. All actions heretofore taken by the officers and agents of the City with <br />respect to the Debt Disclosure Policies and Procedures are hereby approved, confirmed <br />and ratified, and the proper officers of the City are hereby authorized and directed to do <br />ATTY/RESO.0046/CC RESO APPROVING DEPT DISCLOSURE POLICIES & PROCEDURES/ RESO. NO. 15766 <br />REV: 05-07-19 VR MUFF NO, 205 <br />Page 1 of 2 <br />