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05/23/2016 RESOLUTION NO. 15493 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING DEBT DISCLOSURE POLICIES AND PROCEDURES FOR THE CITY WHEREAS, The City of Redwood City is a municipal bond issuer, and as such, is subject to certain legal and contractual requirements relating to the disclosure of information to investors at the time of initial issuance of bonds and on a continuing basis thereafter; and WHEREAS, The United States Securities and Exchange Commission (SEC) has stressed the importance of municipal issuers adopting written disclosure policies and procedures to ensure the accurate and timely communication of material information to municipal market investors; and WHEREAS, in order to facilitate compliance with federal securities laws and existing continuing disclosure contracts, it is advisable for the City to adopt disclosure policies and procedures that formally confirm and enhance the City's existing policies and procedures; and WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to 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. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF REDWOOD CITY, AS FOLLOWS: Section 1. To (a) ensure that annual continuing disclosure reports are filed by the City and all entities created by the City or by State law for which the Council serves as the governing or legislative body, (b) ensure that event notices and other filings are accurate and comply with all applicable federal and state securities laws, and (c) promote best practices regarding the preparation of such documents, the City Council hereby approves the Debt Disclosure Policies and Procedures in the form attached hereto as Exhibit A and incorporated herein by reference. Section 2. All actions heretofore taken by the officers and agents of the City with respect to the Debt Disclosure Policies and Procedures are hereby approved, confirmed and ratified, and the proper officers of the City are hereby authorized and directed to do any and all things and take any and all actions, which they, or any of them, may deem necessary or advisable in order to effect the intent of this Resolution. Section 3. This Resolution shall take effect immediately upon its adoption. * * * ATTY/RES0.0044/CC RESO DEBT DISCLOSURE POLICIES AND PROCEDURES RE50.#15493 REV:05-12-16 JS MUFF#205 Page 1 of 13