Reso 2010-105 - Laserfiche WebLink

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FN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO. 2010 -105 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO APPROVING THE ISSUANCE BY THE CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY OF RECOVERY ZONE FACILITY REVENUE BONDS FOR THE SUNEDISON PORTFOLIO #2 WHEREAS, the California Statewide Communities Development Authority (the "Authority ") is authorized pursuant to the provisions of California Government Code Section 6500 et seq. and the terms of an Amended and Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988 (the "Agreement "), among certain local agencies throughout the State of California, including the City of San Leandro (the "City"), to issue revenue bonds for the purpose of promoting economic development in the State of California; and WHEREAS, SunEdison, LLC or related entities, has requested that the Authority adopt a plan of financing providing for the issuance of recovery zone facility revenue bonds (the "Bonds ") in one or more series issued from time to time, including bonds issued to refund such revenue bonds in one or more series from time to time, and at no time to exceed $1,000,000 in outstanding aggregate principal amount, to finance the installation of solar panels located at the following address in the City and generally known as SunEdison Portfolio #2 (the "Project "): 1555 East 14th Street, San Leandro, California; and WHEREAS, the Bonds or a portion thereof will be "private activity bonds" for purposes of the Internal Revenue Code of 1986 (the "Code "); and WHEREAS, pursuant to Section 147(1) of the Code, prior to their issuance, private activity bonds are required to be approved by the "applicable elected representative" of the governmental units on whose behalf such bonds are expected to be issued and by a governmental unit having jurisdiction over the entire area in which any facility financed by such bonds is to be located, after a public hearing held following reasonable public notice; and WHEREAS, the members of this City Council (this "City Council ") are the applicable elected representatives of the City; and WHEREAS, there has been published, at least 14 days prior to the date hereof, in a newspaper of general circulation within the City, a notice that a public hearing regarding the Bonds would be held on a date specified in such notice; and WHEREAS, such public hearing was conducted on such date, at which time an opportunity was provided to interested parties to present arguments both for and against the issuance of the Bonds; and WHEREAS, the Authority is also requesting that the City Council approve the issuance of any refunding bonds hereafter issued by the Authority at no time to exceed $ 1,000,000 for the purpose of refinancing the Bonds which financed the Project (the "Refunding