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06/18/2012 <br /> ORIGINAL <br /> RESOLUTION NO. 15199 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> REDWOOD CITY APPROVING THE ISSUANCE OF PORT OF <br /> REDWOOD CITY REVENUE BONDS PURSUANT TO THE CITY <br /> CHARTER AND SECTION 147(� OF THE INTERNAL REVENUE <br /> CODE OF 1986, AS AMENDED <br /> WHEREAS, the Board of Commissioners of the Port Department of the City of <br /> Redwood City (the "Port") proposes to issue its Revenue Bonds, Series 2012 (the <br /> "Bonds") in the aggregate principal amount not to exceed $10,000,000, the proceeds of <br /> which will be used to (i) finance the improvement of certain terminal and warehouse <br /> facilities located at 675 Seaport Boulevard, Redwood City, California 94063 (the "Site"), <br /> including but not limited to the construction of wharf and warehouse facilities at the Site <br /> and the construction of related public capital improvements to the Port enterprises <br /> (collectively, the "Enterprise"), and (ii) finance other related expenses (collectively, the <br /> "Project"); and <br /> WHEREAS, notice of a public hearing concerning the Bonds and the nature and <br /> location of the facilities to be financed was published in a newspaper of general <br /> circulation in the City of Redwood City; and <br /> WHEREAS, the Board of Port Commissioners (the "Board") of the Port <br /> Department of the City of Redwood City, on June 13, 2012 conducted a public hearing <br /> whereby interested parties were given the opportunity to be heard and to state their <br /> views concerning the sale and issuance of the Bonds, the nature and location of the <br /> facilities to be financed with a portion of the proceeds thereof and the Project; and <br /> WHEREAS, Section 147(fl of the Internal Revenue Code of 1986, as amended <br /> (the "Code"), requires, as a condition of the exclusion from income of the holders <br /> thereof of interest on the Bonds, and Section 50b of the Charter of the City of Redwood <br /> City (the "City Charter") requires, as a condition to the Port issuing revenue bonds, that <br /> before the Bonds are issued, the Bonds and the Project be approved by the City <br /> Council of the City of Redwood City (the "Council"); and <br /> NOW THEREFORE, the City Council of the City of Redwood City hereby <br /> resolves as follows: <br /> Section 1. The Board hereby approves the sale and issuance of not to exceed <br /> $10,000,000 aggregate principal amount of Port of Redwood City Revenue Bonds, <br /> Series 2012, pursuant to Section 147(fl(2) of the Code and Section 50b of the City <br /> Charter. <br /> ATTY/RES0.2257/PORT OF REDWOOD CITY REVENUE BONDS SERIES 2012 RESO.#15199 <br /> REV:06-14-13 PT MUFF#505 <br /> Page 1 of 3 <br />