Reso 2012-035 - Laserfiche WebLink

Home

WHEREAS, the CMFA has requested that the City Council approve the issuance of the Bonds by the CMFA in order to satisfy the public approval requirement of Section 147(0 of the Code and the requirements of Section 4 of the Agreement; and WHEREAS, notice of such public hearing has been duly given as required by the Code, and this City Council has heretofore held such public hearing at which all interested persons were given an opportunity to be heard on all matters relative to the financing of the Project and the CMFA's issuance of the Bonds therefor; and WHEREAS, it is in the public interest and for the public benefit that the City Council approve the issuance of the Bonds by the CMFA for the aforesaid purposes; and WHEREAS, there is now before this City Council the form of the Agreement; and WHEREAS, the City Council is familiar with the contents thereof; and WHEREAS, the City Manager has recommended approval of said Agreement. NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows: 1. That the City Council hereby finds and determines that the foregoing recitals are true and correct. 2. That said Agreement substantially in the form presented is hereby approved and execution by the City Manager is hereby authorized, and the City Clerk is hereby authorized and directed to attest thereto; and 3. That the City Council hereby approves the issuance of the Bonds with respect to the Project by the CMFA in the not to exceed amount set forth above. It is the purpose and intent of the City Council that this resolution constitute approval of the issuance of the Bonds by the CMFA only for the purposes of (i) Section 147(0 of the Code by the applicable elected representative of the governmental unit having jurisdiction over the area in which the Project will be located, in accordance with said Section 147(0, and (ii) Section 4 of the Agreement. 4. That the issuance and delivery of the Bonds shall be subject to the approval of and execution by the CMFA of all financing documents relating thereto to which the CMFA is a party and subject to the sale of the Bonds by the CMFA. 5. That the payment of the principal, prepayment premium, if any, and purchase price of and interest on the Bonds shall be solely the responsibility of the Borrower. The Bonds shall not constitute a debt or obligation of the City. 6. That the officers of the City are hereby authorized and directed, jointly and severally, to do any and all things and to execute and deliver any and all documents which they deem necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this resolution and the financing transaction approved hereby. RESOLUTION NO. 2012 -035 2