Res03 RD-03-82 - Laserfiche WebLink

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09/08/2003 WHEREAS, all acts and proceedings required by law necessary to make the Bonds, when executed by the Agency, authenticated and delivered by the Trustee, and duly issued, the valid, binding and legal special obligations of the Agency have been done and taken, and the adoption and the execution, issuance and delivery of the Bonds have been in all respects duly authorized; NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of Redwood City, California, as follows: Section 1. Issuance of Bonds; Approval of Indenture. The Agency hereby authorizes the issuance of the Bonds under and pursuant to the Law, in the maximum principal amount of $34,000,000. The Bonds shall be designated "Redevelopment Agency of the City of Redwood City Redevelopment Project Area No. 2, Tax Allocation Bonds, Series 2003A." The Bonds shall be issued pursuant to a Second Supplemental Indenture of Trust, dated as of August 1, 2003 (the "Indenture") between the Agency and U.S. Bank National Association, as trustee (the "Trustee"). The Agency hereby approves the Indenture in the form presented to the Board at this meeting. The Chairman and the Executive Director (or their designated representatives) (each, an "Authorized Officer") are each hereby authorized and directed, acting alone, to execute the Indenture, for and in the name and on behalf of the Agency, in such form, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officer executing such document upon consultation with Bond Counsel and counsel to the Agency. The Agency hereby authorizes the delivery and performance by the Agency of the Indenture. Section 2. Approval of First Supplemental Indenture. The Agency hereby approves the First Supplemental Indenture in the form presented to the Board at this meeting. The Authorized Officers are each hereby authorized and directed, acting alone, to execute the First Supplemental Indenture, for and in the name and on behalf of the Agency, in such form, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officer executing such document upon consultation with Bond Counsel and counsel to the Agency. The Agency hereby authorizes the delivery and performance by the Agency of the First Supplemental Indenture. Section 3. Sale of Bonds. The Bonds shall be sold pursuant to a Purchase Contract (the "Purchase Contract") among the Agency, the City of Redwood City Public Financing Authority (the "Authority") and Stone & Youngberg LLC, as underwriter (the "Underwriter") consistent with the requirements of this Resolution. The Agency hereby approves the Purchase Contract in the form presented to the Board at this meeting. An Authorized Officer, acting alone, is hereby authorized and directed to execute the Purchase Contract, for and in the name and on behalf of the Agency, in such form, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officer executing such document upon consultation with Bond Counsel and counsel to the Agency (provided that no additions or changes shall authorize an aggregate principal amount of Bonds in excess of $34,000,000, or result in a true interest cost thereon to exceed 6.5% per annum, and with an aggregate F:Atty/Reso/Reso.1426 RD 03-82 O829O3 2