CC MIN 2013-05-20 Joint w. PFA - Laserfiche WebLink

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Recommendation: Approve, by resolution, authorization for the sale of up to $30,500,000 million of PFA Water Revenue Refunding Bonds, Series 2013 (2013 Bonds) to refinance the PFA Water Revenue Bonds, Series 2005A and approve other related actions necessary in connection with the issuance of the 2013 bonds. RESOLUTION NO. 15263 OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AUTHORIZING PROCEEDINGS AND AGREEMENTS RELATING TO THE REFINANCING AND FINANCING OF CERTAIN WATER FACILITIES, APPROVING ISSUANCE AND SALE OF BONDS BY THE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, APPROVING AN OFFICIAL STATEMENT AND AUTHORIZING OFFICIAL ACTIONS RESOLUTION NO. PFA 13-02 OF THE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $30,500,000 PRINCIPAL AMOUNT OF WATER REVENUE REFUNDING BONDS, SERIES 2013, APPROVING THE FORM AND AUTHORIZING AND DIRECTING EXECUTION OF AN INDENTURE OF TRUST AND AN INSTALLMENT PURCHASE CONTRACT, APPROVING THE FORM AND AUTHORIZING THE SALE OF BONDS PURSUANT TO A NOTICE OF SALE, APPROVING AN OFFICIAL STATEMENT AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO Brian Ponty, Finance Director presented the staff report (presentation on file) and reviewed the existing debt. In regards to the proposed debt, he spoke in favor of getting a good and better interest rate. There were no public comments. M/S Seybert/Ira to approve the staff recommendations. Motion carried 6-0 by electronic vote with Council Member Foust absent. Mayor Aguirre expressed her thanks to the Council Audit Committee Members Bain and Gee and Council Utilities Committee Members Foust, Ira and Seybert for working to make this happen. B. Approval of financing documents in connection with the execution of a City of Redwood City Refunding Lease (2013 Lease) - City Council/ Public Financing Authority (505) SPECIAL JOINT CITY COUNCIL/PUBLIC FINANCING AUTHORITY May 20, 2013 MEETING MINUTES PAGE 5 MINUTE BOOK NO. 64 Page No. 358