Res12 15163 - Laserfiche WebLink

Browse Search

City staff, has reviewed the Fiscal Agent Agreement and found it to be in proper order, and now desires to approve the Fiscal Agent Agreement and the issuance of the Bonds; and WHEREAS, there has been submitted to the City Council a form of Escrow Instructions (the "Escrow Instructions') from the City to U.S. Bank National Association, as escrow agent (the "Escrow AgenY'), relating to the defeasance of the Prior Bonds, and the City Council, as legislative body of the District, with the aid of City staff, has reviewed the Escrow Instructions and found them to be in proper order, and now desires to approve the Escrow Instructions; and WHEREAS, the City proposes to seli the Bonds to Stifel, Nicolaus & Company, Incorporated dba Stone & Youngberg, a Division of Stifel Nicolaus (the "Undenvriter") pursuant to the terms of a Bond Purchase Agreement (the "Bond Purchase AgreemenY') between the City and the Underwriter, and the Underwriter proposes to offer the Bonds to the investing public by means of a Preliminary O�cial Statement (the "Preliminary Official Statement"); and WHEREAS, it appears that each of said documents and instruments which are now before this meeting is in appropriate form and is an appropriate document or instrument to be executed and delivered for the purpose intended; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Bonds as contemplated by this Resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, inciuding the Act. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redwood City as follows: Section 1. Pursuant to the Act, this Resolution and the Fiscal Agent Agreement, special tax bonds in an aggregate principal amount as provided in Section 2 hereof are hereby authorized to be issued and the City hereby designates the Bonds to be issued as "City of Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project) Special Tax Refunding Bonds, Series 2012." The Bonds shall be executed in the form set forth in and otherwise as provided in the Fiscal Agent Agreement. The City Council acknowledges that the dates of the documents referenced herein may be revised to refiect the actual date of issuance of the Bonds. ATTYlRES0.2186/ ISSUANCE ANO SALE OF SPECIAL TAX REFUNDING BONOS (PACIPIC SHORES PROJECn REV:12/19/11