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7.B.- Page 6of11 <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AS FOLLOWS: <br />SECTION 1. Execution and Delivery of Third Amendment to Financing <br />Agreement. The City Council hereby consents to the execution and delivery of the <br />Third Amendment to Financing Agreement to effectuate the lower interest rate on the <br />WIFIA Loan. <br />SECTION 2. Approval of Closing Documents. The Mayor is authorized to <br />execute and deliver the Third Amendment to Financing Agreement and the Mayor, the <br />City Manager, the Assistant City Manager of Administrative Services and the City Clerk <br />and their duly authorized deputies, designees or agents are each hereby authorized and <br />directed, in their respective official capacities, to execute or attest thereto, to any closing <br />certificates which are necessary or appropriate to effectuate the Third Amendment to <br />Financing Agreement. <br />SECTION 3. Effective Date. This Resolution shall take effect immediately upon <br />its passage and adoption. <br />ATTY/RESO.0117/CC RESO AUTHORIZING THE THIRD AMENDMENT OF A FINANCING AGREEMENT <br />REV: 10-20-2020 MI <br />Page 2 of 3 <br />364 <br />