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0 R I G I N A L 1/6/97 RESOLUTION NO. RD-97-01 RD 97-01 RD-97-1 RD 97-1 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY PROVIDING FOR THE ISSUANCE AND SALE OF REDEVELOPMENT PROJECT AREA NO. 2, TAX ALLOCATION REFUNDING BONDS, SERIES 1997 WHEREAS, the Redevelopment Agency of the City of Redwood City (herein sometimes referred to as the "Agency"), is a redevelopment agency (a public body, corporate and politic) duly created, established and anthofized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law (Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California) (the "Law") and the powers of the Agency include the power to issue bonds; and WHEREAS, a redevelopment plan known as the Redevelopment Plan for the Redevelopment Project (the "Project"), in the City of Redwood City, California ("the City") has been adopted and approved by the City, and all requirements of the Law for and precedent to the adoption and approval of said Redevelopment Plan have been duly complied with, the project area for such Project to be referred to herein as the "Project Area"; and - WHEREAS, in order to finance a portion of the costs associated with undertaking the Project the Agency, the City and the City of Redwood City Public Financing Authority (the "Authority") have from time to time issued bonds, notes and certificates of participation therefor, including the Authority's 1991 Local Agency Revenue Bonds, Series B (the "Prior Bonds"), the proceeds of which were loaned (the "Loan") to the Agency pursuant to the terms of a Loan Agreement, dated as of July 15, 1991 (the "Loan Agreement"); and WHEREAS, the Agency has determined that it is in the Agency's best interests to issue at this time not to exceed $15,000,000 principal mount of tax allocation refunding bonds (the "Bonds") as authorized herein for the purpose of refunding the Prior Bonds by prepaying the Loan made to the Agency under the Loan Agreement. NOW, THEREFORE, BE IT RESOLVED, by the Redevelopment Agency of the City of Redwood City as follows: Section 1. Approval 'of Issuance and Sale of Bonds. The issuance and sale of the Redevelopment Agency of the City of Redwood City Redevelopment Project Area No. 2, Tax Allocation Refunding Bonds, Series 1997 (herein sometimes referred to as the "Bonds"), in the aggregate principal amount of not to exceed $15,000,000 and with a maximum term not to exceed beyond the year 2011, is hereby authorized and approved. The Chairperson, Executive Director and Treasurer of the Agency for and in the name and on behalf of the Agency, are f:~2293 l-0Bagency.2