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RESOLUTION RDA 03-82 OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />REDWOOD CITY APPROVING A FIRST SUPPLEMENTAL INDENTURE OF TRUST, A <br />SECOND SUPPLEMENTAL INDENTURE OF TRUST, A CONTINUING DISCLOSURE <br />AGREEMENT, A PURCHASE CONTRACT AND AN OFFICIAL STATEMENT; MAKING <br />CERTAIN DETERM'NATIONS RELATING THERETO; AND AUTHORIZING CERTAIN <br />OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF THE AGENCY'S <br />REDEVELOPMENT PROJECT AREA NO. 2, TAX ALLOCATION BONDS, SERIES <br />2003A <br />The motion passed by a majority roll call vote with Council Member <br />Jordan voting no and Vice Mayor Ira abstaining. <br />B. Approval of the Redevelopment Agency's issuance of tax allocation bonds <br />(the "2003 Bonds ") -- CITY COUNCIL <br />Financial Services Director Ponty explained that this is a companion item <br />and that under State Law, the City Council must approve any bonds being <br />issued by the Agency despite the fact that they are not obligations of the <br />City. <br />Public Comment. <br />Rudy Luca stated asked who will pay for issuance of the allocation of the <br />bonds. <br />Financial Services Director Ponty stated the cost would come from the <br />gross proceeds of the bond issue. <br />M/S Hartnett/Pierce to approve a resolution approving the financing and <br />refinancing of various projects in the Redevelopment Project Area No. 2 by <br />the Redevelopment Agency of the City of Redwood City <br />RESOLUTION 14554 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 REDEVELOPMENT <br />AGENCY OF THE CITY OF REDWOOD CITY <br />The motion passed by a majority roll call vote with Council Member <br />Jordan voting no and Vice Mayor Ira abstaining. <br />C. Authorization of the Redwood City Public Financing Authority to purchase <br />tax allocation bonds from the Redwood City Redevelopment Agency and <br />re -sell such bonds to an underwriter for distribution to the Public — PUBLIC <br />FINANCING AUTHORITY <br />Financial Services Director Ponty stated this is the final item. for approval and <br />seeking authority to purchase bonds from the Redevelopment Agency and sell <br />them on a negotiated basis to Stone and Youngberg, the underwriter. Due to the <br />JOINT CITY COUNCIL, PUBLIC FINANCING AUTHORITY, AND SEPTEMBER 8, 2005 <br />REDEVELOPMENT AGENCY MINUTES PAGE 10 <br />