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1 0/26/2009 ORIGINAL RESOLUTION NO. RD 09-04 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY AUTHORIZING THE REDEMPTION OF THE AGENCY'S REDEVELOPMENT PROJECT AREA NO.2, TAX ALLOCATION REFUNDING BONDS, SERIES 1997 WHEREAS, the Redevelopment Agency of the City of Redwood City (the "Agency") is a redevelopment agency, a public body, corporate and politic, duly created, established and authorized to transact business and exercise powers under and pursuant to the provisions of the Community Redevelopment Law of the State of California (the "Law"), including the power to issue bonds and other obligations for any of its corporate purposes; and WHEREAS, a redevelopment plan for a redevelopment project known and designated as the "Redevelopment Project Area No.2" (the "Project Area") has been adopted and approved and all requirements of law for, and precedent to, the adoption and approval of said plan been duly complied with; and WHEREAS, the plan contemplates that the Agency will issue its bonds to finance and refinance a portion of the cost of such redevelopment; and WHEREAS, the Agency has previously issued its Redevelopment Project Area No. 2 Tax Allocation Refunding Bonds, Series 1997 (the "Bonds") pursuant to the provisions of an Indenture of Trust, dates as of June 15, 1997, relating to the issuance of the Series 1997 Bonds, as supplemented and amended (the "Indenture"); and WHEREAS, it is now economic for the Bonds to be redeemed in whole from available resources of the Agency. NOW, THEREFORE, BE IT RESOLVED BY THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, CALIFORNIA, AS FOLLOWS: Section 1. Refunding of Bonds. The Bonds are hereby designated for redemption prior to maturity from available funds of the Agency, provided that the redemption price does not exceed 1000/0 of the principal amount thereof, plus accrued interest to the date of redemption. A TTY/RESO/RESO.1956 101609 #RD 09-04 MUFF # 404