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<br /> <br />INSTALLMENT PURCHASE CONTRACT <br /> <br />This INSTALLMENT PURCHASE CONTRACT, dated as of September 1, 2024 (the <br />“Installment Purchase Contract”), between the CITY OF REDWOOD CITY, a charter city and <br />municipal corporation duly organized and existing under its charter and the Constitution and <br />laws of the State of California (the “City”), and the CITY OF REDWOOD CITY PUBLIC <br />FINANCING AUTHORITY, a joint powers authority, operating and acting pursuant to the laws of <br />the State of California (the “Authority”); <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the City is authorized by its Charter and the laws of the State of California to <br />acquire certain improvements (the “Project”) to the City’s water system (the “Enterprise”) and to <br />finance and, refinance the construction of such facilities through, the execution of installment <br />purchase contracts; and <br /> <br />WHEREAS, in order to refinance the Project, the City and the Authority previously <br />entered into an Installment Purchase Contract, dated as of June 1, 2013 (the “2013 Installment <br />Purchase Contract”); and <br /> <br />WHEREAS, the Authority is authorized under the Marks-Roos Local Bond Pooling Act of <br />1985 (commencing with Section 6584 of the California Government Code) (the “Act”) to incur <br />indebtedness to finance and refinance public capital improvements (as such term is defined in <br />the Act); and <br /> <br />WHEREAS, the City has determined that it is in the best interests of the City and its <br />citizens, and is necessary and proper for City purposes, that the City refinance its obligations <br />under the 2013 Installment Purchase Contract in the manner described herein, and that the City <br />pay the Authority for the costs of the Project in the manner described herein; and <br /> <br />WHEREAS, all acts, conditions and things required by law to exist, to have happened <br />and to have been performed precedent to and in connection with the execution and entering into <br />of this Installment Purchase Contract do exist, have happened and have been performed in <br />regular and due time, form and manner as required by law, and the parties hereto are now duly <br />authorized to execute and enter into this Installment Purchase Contract; <br /> <br />NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND OF THE <br />MUTUAL AGREEMENTS AND COVENANTS CONTAINED HEREIN AND FOR OTHER <br />VALUABLE CONSIDERATION, THE PARTIES HERETO DO HEREBY AGREE AS FOLLOWS: <br /> <br /> <br />8.A. - Page 169 of 255 <br />797