|
OS/20/2013
<br /> WHEREAS, in order to provide funds to refinance the Refunded Bonds, the
<br /> Authority proposes to issue its City of Redwood City Public Financing Authority Water
<br /> Revenue Refunding Bonds, Series 2013, in the aggregate principal amount of not to
<br /> exceed $30,500,000 (the "Bonds"), under the provisions of an Indenture of Trust (the
<br /> "Indenture"), currently dated as of June 1, 2013 between the Authority and U.S. Bank
<br /> National Association, as trustee (the "Trustee"); and
<br /> WHEREAS, the Bonds are to be issued pursuant to Article 4 of the Act; and
<br /> WHEREAS, the Authority and the City propose to sell and purchase the Project
<br /> (as defined in the Installment Purchase Contract) as provided in an Installment
<br /> Purchase Contract, currently dated as of June 1, 2013 (the "Installment Purchase
<br /> Contract"), between the Authority and the City, for the purpose (among others) of
<br /> providing amounts sufficient to provide for the payment of the principal of and interest
<br /> on the Bonds as described in the Installment Purchase Contract; and
<br /> WHEREAS, in connection with the offering of the Bonds, the Authority and the
<br /> City have caused to be prepared a preliminary Official Statement (the "Official
<br /> Statement") describing, among other things, the City, the Indenture, the City's municipal
<br /> water enterprise, the Refunded Bonds, the Installment Purchase Contract and the
<br /> Bonds, a preliminary form of which is on file with the Secretary of the Authority; and
<br /> WHEREAS, the Bonds will be sold pursuant to competitive sale, and the
<br /> Authority has caused a Notice of Sale to be prepared (the "Notice of Sale"); and
<br /> WHEREAS, the Authority has duly considered such transactions, including,
<br /> without limitation, the Indenture, the Notice of Sale, the Installment Purchase Contract
<br /> and the Official Statement, and wishes at this time to approve said transactions in the
<br /> public interests of the Authority.
<br /> NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY
<br /> THE REDWOOD CITY PUBLIC FINANCING AUTHORITY, AS FOLLOWS:
<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 $30,500,000 for the purposes hereinbefore described. The
<br /> Authority hereby approves the Indenture in the form on file with the Secretary together
<br /> with any additions thereto or changes therein deemed necessary or advisable by the
<br /> Chairperson, Vice Chairperson, Executive Director or Finance Director, or their
<br /> respective designated representatives (each, an "Authorized Officer"), upon consultation
<br /> with Authority counsel and Nossaman LLP ("Bond Counsel"), whose execution thereof
<br /> shall be conclusive evidence of the approval of any such additions and changes. Such
<br /> changes and additions shall include, without limitation, the insertion in the Indenture of
<br /> the final annual maturities and final aggregate principal amount of the Bonds and the
<br /> ATTY/RES0.2856/PFA WATER REV BONDS 1PA RESO RE50.PFA#13-02
<br /> REV:OS-06-13 PT MUFF#505
<br /> Page 2 of 4
<br />
|