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<br />0 RIG I N A L <br /> <br />6/24/91 <br /> <br />EE5.QLJlI.l.QN <br /> <br />N Q. <br /> <br />11547 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY AUTHORIZING THE LEASE PURCHASE FINANCING OF VARIOUS <br />MUNICIPAL IMPROVEMENTS AND THE REFINANCING OF THE CITY'S <br />OBLIGATIONS UNDER A 1986 LEASE AGREEMENT, AUTHORIZING <br />AND DIRECTING THE EXECUTION OF RELATED LEASE AGREEMENT, <br />APPROVING SALE OF BONDS AND AUTHORIZING OFFICIAL ACTIONS <br /> <br />WHEREAS, <br /> <br />the <br /> <br />City <br /> <br />of <br /> <br />Redwood City <br /> <br />(the <br /> <br />"City" ) <br /> <br />and <br /> <br />the <br /> <br />Redevelopment Agency of the City of Redwood City (the "Agency") <br /> <br />have heretofore entered into a Joint Exercise of Powers Agreement <br /> <br />dated June 10, 1991, establishing the city of Redwood city Public <br /> <br />Financing <br /> <br />Authority <br /> <br />(the <br /> <br />"Authority") <br /> <br />for <br /> <br />the <br /> <br />purpose, <br /> <br />among <br /> <br />others, <br /> <br />of <br /> <br />issuing <br /> <br />its <br /> <br />bonds <br /> <br />to be used to provide <br /> <br />financial <br /> <br />assistance to the City and the Agency; and <br /> <br />WHEREAS, <br /> <br />the City has requested the Authority to assist in <br /> <br />the financing of municipal improvements including construction of <br /> <br />a <br /> <br />new <br /> <br />police <br /> <br />facility <br /> <br />(the <br /> <br />"project") <br /> <br />and <br /> <br />to <br /> <br />assist <br /> <br />in <br /> <br />the <br /> <br />refinancing of the City's obligations under that certain Lease <br /> <br />Agreement dated as of June 15, <br /> <br />1986, by and between the Redwood <br /> <br />City Public Facilities and Infrastructure Authority as lessor and <br /> <br />the <br /> <br />City <br /> <br />as <br /> <br />lessee <br /> <br />(the <br /> <br />"1986 <br /> <br />Lease" ) , <br /> <br />and <br /> <br />the <br /> <br />Agency <br /> <br />has <br /> <br />requested the Authority to assist in the <br /> <br />financing of various <br /> <br />redevelopment activities relating to Redevelopment Project No. <br /> <br />2 , <br /> <br />including various low and moderate income housing projects; and <br /> <br />WHEREAS, <br /> <br />for <br /> <br />the <br /> <br />purpose <br /> <br />of <br /> <br />raising <br /> <br />funds <br /> <br />necessary <br /> <br />to <br /> <br />provide such financial assistance to the City and the Agency, the <br /> <br />Authority proposes to authorize the issuance of its Redwood City <br /> <br />Public Financing Authority 1991 Local Agency Revenue Bonds in an <br /> <br />---'-~"'"lr <br />