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ATTY/RESO.0048/PFA RESO WATER REVENUE REFUNDING BONDS <br />REV: 08-07-24 MI <br />Page 1 of 6 <br />RESOLUTION NO. PFA 17-___ <br /> <br />A RESOLUTION OF THE CITY OF REDWOOD CITY PUBLIC <br />FINANCING AUTHORITY AUTHORIZING THE ISSUANCE OF NOT TO <br />EXCEED $16,260,000 PRINCIPAL AMOUNT OF WATER REVENUE <br />REFUNDING BONDS, SERIES 2024, APPROVING THE FORM AND <br />AUTHORIZING AND DIRECTING EXECUTION OF AN INDENTURE OF <br />TRUST, AN INSTALLMENT PURCHASE CONTRACT AND AN ESCROW <br />DEPOSIT AND TRUST AGREEMENT, APPROVING THE FORM AND <br />AUTHORIZING THE SALE OF BONDS PURSUANT TO A BOND <br />PURCHASE AGREEMENT, APPROVING AN OFFICIAL STATEMENT, <br />AND AUTHORIZING RELATED DOCUMENTS AND ACTIONS <br /> <br />WHEREAS, the City of Redwood City Public Financing Authority (the “Authority”) <br />is a joint powers authority duly organized and existing under and pursuant to that certain <br />Joint Exercise of Powers Agreement dated as of June 18, 1991, by and between the City <br />of Redwood City (the “City”) and the Successor Agency to the Redevelopment Agency of <br />the City of Redwood City (the “Agency”), and under the provisions of Articles 1 through 4 <br />(commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government <br />Code of the State of California (the “Act”), and is authorized pursuant to Article 4 of the <br />Act to, among other things, borrow money for the purpose of financing and refinancing <br />public capital improvements of the City; and <br /> <br />WHEREAS, pursuant to an Indenture of Trust, dated as of June 1, 2013 (the “2013 <br />Indenture”) between the Authority and U.S. Bank Trust Company, National Association, <br />as trustee (the “Prior Trustee”), the Authority issued its Water Revenue Refunding Bonds, <br />Series 2013, in the original principal amount of $26,870,000 (the “Refunded Bonds”); and <br /> <br />WHEREAS, the Refunded Bonds are special obligations of the Authority payable <br />from the revenues pledged under the 2013 Indenture, consisting primarily of installment <br />payments (the “2013 Installment Payments”) to be made by the City under an installment <br />purchase contract, dated as of June 1, 2013, between the Authority and the City (the <br />“2013 Installment Purchase Contract”); and <br /> <br />WHEREAS, the City has requested that the Authority issue revenue bonds for the <br />purpose of providing funds to enable the City to refinance the 2013 Installment Payments <br />and cause a refunding of the Refunded Bonds; and <br /> <br />WHEREAS, in order to provide funds to refinance the 2013 Installment Payments <br />and cause a refunding of the Refunded Bonds, the Authority proposes to issue its City of <br />Redwood City Public Financing Authority Water Revenue Refunding Bonds, Series 2024, <br />in the aggregate principal amount of not to exceed $16,260,000 (the “Bonds”), under the <br />provisions of an Indenture of Trust (the “Indenture”), between the Authority and U.S. Bank <br />Trust Company, National Association, as trustee (the “Trustee”); and <br /> <br />8.A. - Page 111 of 255 <br />739