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11/03/2003
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<br />amount of not to exceed $12,500,000 (the "Bonds"), pursuant to an Indenture of Trust
<br />(the "Indenture"), by and between the Authority and BNY Western Trust Company as
<br />trustee (the "Trustee"); and
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<br /> WHEREAS, the Bonds are to be issued pursuant to the Marks-Roos Local Bond
<br />Pooling Act of 1985 (the "Act"), constituting Article 4 (commencing with section 6584) of
<br />Chapter 5 of Division 7 of Title 1 of the California Government Code; and
<br />
<br /> WHEREAS, the Authority and the City propose to lease and lease back the
<br />Leased Property as provided in the Subordinate Site lease, dated as of November 1,
<br />2003 (the "Site Lease") and the Subordinate Lease Agreement, dated as of November
<br />1, 2003 (the "Lease Agreement"), by and between the Authority and the City, such lease
<br />back to the City being for the purpose (among others) of providing amounts sufficient to
<br />provide for the payment of the principal of and interest on the Bonds and such Leased
<br />Property being further described in the Lease Agreement; and
<br />
<br /> WHEREAS, the Authority proposes to sell the Bonds to Stone & Youngberg LLC
<br />(the "Underwriter") for offer and sale by the Underwriter to members of the general
<br />public, and in connection with the offering of the Bonds, the Authority and the City have
<br />caused to be prepared an Official Statement describing, among other things, the City,
<br />the Indenture, the Site Lease, the Lease Agreement and the Bonds, a preliminary form
<br />of which is on file with the Secretary of the Authority; and
<br />
<br /> WHEREAS, the Bonds will be sold pursuant to the Purchase Contract (the
<br />"Purchase Contract") to be dated the date of sale, among the Authority, the Underwriter
<br />and the City; and
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<br /> WHEREAS, the Authority has duly considered such transactions, including,
<br />without limitation, the Indenture, the Site Lease, the Lease Agreement, the Official
<br />Statement, an Escrow Agreement, dated as of November 1, 2003, with the 1991
<br />Trustee (the "Escrow Agreement") and the Purchase Contract, and wishes at this time
<br />to approve said transactions in the public interests of the Authority; and
<br />
<br /> WHEREAS, the City has approved the financing of the public capital
<br />improvements and made a finding of significant public benefit after a public hearing, all
<br />in accordance with Section 6585.5 of the Act.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
<br />THE REDWOOD CITY PUBLIC FINANCING AUTHORITY, AS FOLLOWS:
<br />
<br /> Section 1. Issuance of Bonds; Approval of Indenture. The findings set forth in
<br />the recitals hereof are true and correct. The Authority hereby authorizes the issuance of
<br />the Bonds under and pursuant to the Act and the Indenture in the aggregate principal
<br />amount of not to exceed $12,500,000 for the purposes hereinbefore described. The
<br />Authority hereby approves the Indenture in substantially the form on file with the
<br />Secretary together with any additions thereto or changes therein deemed necessary or
<br />advisable by the Chairperson, the Executive Director, the Finance Director or the
<br />Treasurer (collectively, the "Authorized Officers"), upon consultation with Authority
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<br />Atty/Reso/Reso.1433 PFA 03-03
<br />102303 2
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