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04/13/2015 <br /> ORIGINAL <br /> RESOLUTION NO. 15402 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF REDWOOD CITY APPROVING THE ISSUANCE OF <br /> PORT OF REDWOOD CITY REFUNDING REVENUE <br /> BONDS PURSUANT TO THE CITY CHARTER <br /> WHEREAS, the Port Department of the City of Redwood City (the "Port") is a <br /> duly constituted department of the City of Redwood City (the "City") and the Board of <br /> Port Commissioners of the Port has exclusive control, management supervision and <br /> jurisdiction of the Port Department of the City, the Port of Redwood City and the Port <br /> Area of the City, and is the governing body of said Port, Port of Redwood City and Port <br /> Area, all as provided for and defined in Sections 47 through 50b of the Charter of the <br /> City; and is authorized by said Charter and by Government Code Section 54300 et seq. <br /> and other laws of the State of California (collectively, the "Bond Law") to issue bonds for <br /> the purpose of financing and refinancing the acquisition, construction and repair of Port <br /> facilities and improvements; and <br /> WHEREAS, the Board of Port Commissioners of the Port and the California <br /> Department of Boating and Waterways ("DBW") previously entered into a contract dated <br /> January 20, 1991 (Contract No. 91-102-204), as amended by a First Amendment to <br /> Contract dated March 20, 1993, a Second Amendment to Contract dated May 1, 1994 <br /> and a Third Amendment to Contract dated March 3, 1999 (collectively, the "DBW <br /> Contract"), pursuant to which DBW made a loan to the Board of Port Commissioners of <br /> the Port in the amount of $880,000 and the Board of Port Commissioners of the Port <br /> agreed to repay the loan; and <br /> ATTY/RES0.3072/CC RESO APPROVING ISSUANCE Of PORT RESO.#15402 <br /> REFUNDING REVENUE BONDS MUFF#505 <br /> REV:04-01-15 MLG <br /> Page 1 of 5 <br />