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MUR <br />RESOLUTION NO. <br />RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />REDWOOD CITY APPROVING A FIRST SUPPLEMENTAL INDENTURE <br />OF TRUST, A SECOND SUPPLEMENTAL INDENTURE OF TRUST, A <br />CONTINUING DISCLOSURE AGREEMENT, A PURCHASE CONTRACT <br />AND AN OFFICIAL STATEMENT; MAKING CERTAIN <br />DETERMINATIONS RELATING THERETO; AND AUTHORIZING <br />CERTAIN OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE <br />OF THE AGENCY'S REDEVELOPMENT PROJECT AREA NO. 2, TAX <br />ALLOCATION BONDS, SERIES 2003A <br />WHEREAS, the Redevelopment Agency of the City of Redwood City (the <br />'Agency ") is a redevelopment agency, a public body, corporate and politic, duly created, <br />established and authorized to transact business and exercise powers under and <br />pursuant to the provisions of the Community Redevelopment Law of the State of <br />California (the "Law "), including the power to issue bonds and other obligations for any <br />of its corporate purposes; <br />WHEREAS, a redevelopment plan for a redevelopment project known and <br />designated as the "Redevelopment Project Area No. 2" (the "Project Area ") has been <br />adopted and approved and all requirements of law for, and precedent to, the adoption <br />and approval of said plan have been duly complied with; and <br />WHEREAS, the plan contemplates that the Agency will issue its bonds to <br />finance and refinance a portion of the cost of such redevelopment; and <br />WHEREAS, in order to finance and refinance certain redevelopment <br />activities in the Project Area, the Agency has determined to adopt this Resolution to <br />approve the issuance of the Bonds (as defined herein) in a principal amount not to <br />exceed $34,000,000; and <br />WHEREAS, pursuant to an Indenture of Trust, dated as of June 15, 1997 <br />(the "1997 Indenture "), the Agency has issued its Redevelopment Agency of the City of <br />Redwood City Redevelopment Project Area No. 2 Tax Allocation Refunding Bonds, <br />Series 1997 (the "Series 1997 Bonds "), the payment of principal of and interest on are <br />insured by Ambac Assurance Corporation (the "Insurer'); and <br />WHEREAS, Section 7.1 of the 1997 Indenture allows amendments <br />thereto with the consent of the Insurer; and <br />WHEREAS, in order to amend certain provisions of the 1997 Indenture to <br />facilitate the issuance of the Bonds, the Agency has determined to authorize the <br />execution and delivery of a First Supplemental Indenture of Trust, dated as of August 1, <br />2003 (the "First Supplemental Indenture'). <br />F:Atty /Reso /Reso.1426 <br />082903 1 <br />