Res12 P-2178 - Laserfiche WebLink

Browse Search

� RE�OLUTION No. P- �i�� RESOLUT:CON OI' TH� BOARD O� PORT COI�IIVIISSIONERS OI+ TH� PORT DEPARTMENT OF T�XE CYTY OF 12EDWOOD CITY AUTHORIZING TH� ISSUEI,NCE OF REV�NU� BONDS AND T�IE �XECUTI�N AND D�LIVERY O�+ A SECOND SUPPLEM�NTAL IND�NTURE AND A BOND PURCHAS� AGIt��N1�NT AND AUTIIORIZING CERTAIN RELATED iV1ATTERS WHER�AS, the Port Department of the City of Redvvood City (the "Port") is a duly constituted department of the Czty of Redwood City (the "City") 1nd the Board of Port Coinmissioners of the 1'ort has exclusive control, management; supetvision and jurisdiction of the Port Departtnent of the Ciry, the 1'ort of Redwood City and the Port A��ea af the City, and is the governing body of said Port, Por-� of Redwood City and Port Area, all as provided for and defned in Sections 47 through SOb of the Chat�er of the City; and is authorized by said Charter and by Governznent Code Section 54304 et seq. an.d other iaws of the State of California {collecliveiy, the "Bond Law") to issuc bonds for the purpose of �nancing and �•eFinancing the acquisition, consCcuction and repair of Po��t facilzties and improvements; and WHEREAS, the Po�•t has previously entered into that cez•tain Master Indencure, d�ted as of April 1, 1999 {the "Master Indenture"), by and between the Port and U.S. Banic Ttust National Association, since succeeded b� U.S. Bank Nationai Association as ti�zstee (the "Ti�ustee), and has caused the execution and delivery ot its Revenue Bonds, Series 1999 (the "Series 1999 Bonds"} pursuant to a First Supplemental Indenture, dated as of April 1, t999 (the "First Supplemental Indentu�•e"), by and between the Port and the Trustce. W�TEREAS, the Port, after due invcstigation and deliberation, has determined that it is in the interests of the Port at this timc to provide for the authoiization of its Revenue Bonds, Series 2012 (the "Bonds") under the Bond Law for the purposes o:f financing the constiuction and renovation of termina( and wharf iacilities, certain oiher capitai improvements with respect to faci[ities of the Poct (the "Project"), funding a reseive account for the Bonds, and paying certain expenses related to the issuance of the Bonds, and; WHEREAS, in ordez• to provicfe for the deliveiy of lhe Bonds, Co eslabtish and dectare the te�-ms and conditions upon which the Bands a�•e to b� used and secu�•ed, co authorize the execution of a Second Supplemental Indenture, dated as of June 1, 2012 (th� "Second Supplemental indenture"), 6y and between the Port and the Trustee, to provide for the sale of the Bonds in a przvate placement pursuant to a Bond Purchase Agree�nent, to be dated the date of the sale of the Bonds {the "Bond Purchase Agreement"), by and between the Poi�t and GE Government Finance, Inc. (the"Purchaser") arzd to provide tor certain related Enatters, the Board of I'ort Com�nissioners deems it in the best interests of the Po�•t to adopt this Resolution(the"Resotution"); NOW,THEREFOR�, BE FT RESOLVED BY THE BOARD �F PORT CONIMTSSIONERS OF THE PORT DEPARTMENT OF THE CITY OF REDWOOD CITY, AS FOLLOWS: Section l. Issuance of the Bonds. The issuance of th� Bonds on the terrns and conditions set Eo�•th in, and subject Co the izinitations specified in the Vlaster Indentuce and the Second Supplemental DOCSSF/S6SSOv6/02293 t•0008