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2041M JHHW:WHM:sss 8/21/84 :sss 8/22/84 ORIGINAL ORDINANCE NO. 1903 SEP 17 1984 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY PROVIDING FOR THE BORROWING OF FUNDS FOR FISCAL YEAR 1984-1985 AND THE ISSUANCE OF 1984 TAX AND REVENUE ANTICIPATION NOTES THEREFOR WHEREAS, pursuant to Sections 53850 et ~. of the Government Code of the State of California, this City Council (the "Council") has found and determi ned that moneys are needed for the requi rements of the Ci ty of Redwood City (the "City"), a municipal corporation duly organized and existing under the laws of the State of California, to satisfy obligations payable from the Genera 1 Fund of the City, and that it is necessary that said sum be borrowed for such purpose at this time by the issuance of temporary notes therefor in anticipation of the receipt of taxes, revenue and other moneys to be received by the City for the General Fund of the City during or allocable to Fi seal Year 1984-1985; NOW, THEREFORE, the Council of Redwood City does ordain as follows: Section 1. Recitals True and Correct. All of the recitals herein set forth are true and correct, and the Council so finds and determines. Section 2. Issuance and Terms of Notes. Solely for the purpose of anticipating taxes, revenue and other moneys to be received by the City for the General Fund of the City during or allocable to Fiscal Year 1984-1985, and not pursuant to any common plan of financing, the City hereby determines to and shall borrow the pri nc i pa 1 amount of Three Mi 11 ion Ei ght Hundred Thousand Dollars ($3,800,000) by the issuance of temporary notes under Section 66 of the Charter of the City and Sections 53850 et ~. of the Government Code of the State of California, designated "City of Redwood City 1984 Tax and Revenue Anticipation Notes" (the "Notes"). The Notes shall be numbered from 1 consecutively upward in order of issuance, shall be dated the date of delivery to the original purchaser, shall mature on June 28,1985, and shall bear interest, payable at maturity and computed on a 30-day month/360-day year bas is, at the rate set forth in the Purchase Contract for the Notes, whi ch rate shall not exceed eight percent (8%) per annum. Both the principal of and interest on the Notes shall be payable, only upon surrender thereof, in lawful money of the United States of America, at the principal office of Bank of America National Trust and Savings Association in San Francisco, California. Section 3. Form of Notes. The Notes shall be issued in denominations of $5,000, or multiples thereof as designated by the original purchaser, without coupons and shall be substantially in the form and substance set forth in Exhibit A attached hereto and by reference incorporated herein, the blanks in said form to be filled in with appropriate words and figures. I 9 ~.. ~~"". ~