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RESOLUTION NO. <br />_ A RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY <br />APPROVING THE FINANCING AND REFINANCING OF THE <br />REDEVELOPMENT PROJECT AREA NO. 2 BY THE <br />REDEVELOPMENT AGENCY OF THE . ^.ITY OF REDWOOD CITY <br />WHEREAS, the Redevelopment Agency of the City of Redwood City, a public <br />body, corporate and politic (the "Agency ") is authorized pursuant to Part 1 (commencing <br />with Section 33000) Division 24 of the Health and Safety Code of the State of California <br />(the "Law ") to issue any obligations for its corporate purposes; and <br />WHEREAS, the Agency, in order to provide for the financing and refinancing of <br />the Redevelopment Project Area No. 2 (the 'Project Area "), has indicated it intention to <br />issue up to $34,000,000 of its obligations, tentatively titled Redevelopment Agency of <br />the City of Redwood City Redevelopment Project Area No. 2, Tax Allocation Bonds, <br />Series 2003A (the 'Bonds "), the proceeds of which will be used to refinance certain <br />outstanding obligations of the Agency and to finance new projects within the Project <br />Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Redwood <br />City as follows: <br />1. That the Council hereby approves the issuance of the Bonds as <br />L determined by the Agency. <br />2. That this Resolution shall take effect immediately upon adoption. <br />+ r + <br />F:Atty /Reso /Reso.1427 <br />082903 1 <br />