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<br /> ,JES: d£t ~/05/91 (005/10) <br /> DES:djk 'lO/91R <br /> o RIG I N A L 6/24/91 <br /> ORDINANCE NO. 2038 <br /> <br /> --------- <br /> ORDINANCE APPROVING PUBLIC LEASEBACK OF CERTAIN <br /> FACILITIES WITH THE CITY OF REDWOOD CITY PUBLIC <br /> FINANCING AUTHORITY <br /> THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: <br /> SECTION 1. Public Leaseback. Pursuant t,o Section 54241 of <br />the California Gove rnmen t, Code, the City of Redwood City is <br />hereby authorized to enter into a formal agreement with the City <br />of Redwood City Public Financing Authority with respect to the <br />Public Leaseback of some or all of those certain lands, <br />buildings, struct,ures, or other facilities which are permanently <br />attached to land, designated in Exhibit A hereof attached hereto <br />and by this reference incorporated herein, so long as the <br />principal amoun t, payable under the lease agreement does not, <br />exceed $45,000,000.00, so long as the interest rate payable on <br />the unpaid lease payments does not exceed eight percent (8%), so <br />long as t,he term of t,he lease agreement does not exceed thirty <br />(30 ) years, and so long as the gross annual lease payments <br />payable under the lease agreement do not exceed $4,000,000. <br /> SECTION 2. Referendum. This Ordinance is subject t,o the <br />provisions for referendum applicable to the City of Redwood City <br />under the Charter of said City. <br /> SECTION 3. Effect,ive Date. This ordinance shall be <br />effective thirty (30) days from and after its adoption and shall <br />be published at least once in full in the official newspaper of <br />the City of Redwood City at least three (3) days prior to its <br />adoption. <br /> * * * <br />- <br />