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File Number: 16-513 <br />lease payments as rental for the Leased Property, and the Authority will assign substantially <br />all of its rights under the Lease Agreement to U.S. Bank National Association, as trustee for <br />the Refunding Bonds; and <br />WHEREAS, the Board of Directors wishes at this time to approve all proceedings of the <br />Authority relating to the issuance and sale of the Refunding Bonds and assist the City in the <br />refinancing of the 2007 Certificates; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the San Leandro Public <br />Financing Authority as follows: <br />SECTION 1. Issuance of Refunding Bonds. The Board of Directors hereby authorizes the <br />issuance of the Refunding Bonds under the Bond Law in the maximum principal amount not <br />to exceed $15,800,000, for the purpose of providing funds to refinance the 2007 Certificates. <br />The Refunding Bonds shall be issued under the Bond Law and the Indenture of Trust that is <br />approved below. <br />SECTION 2. Approval of Related Financing Agreements. The Board of Directors hereby <br />approves each of the following agreements required for the issuance and sale of the <br />Refunding Bonds and the refinancing of the 2007 Certificates, in substantially the respective <br />forms on file with the Secretary together with any changes therein or additions thereto <br />(including the addition of a reserve account) deemed advisable by the Chairman, Executive <br />Director or the Treasurer (each, an “Authorized Officer”), whose execution thereof shall be <br />conclusive evidence of the approval of any such changes or additions. An Authorized Officer <br />is hereby authorized and directed for and on behalf of the Authority to execute, and the <br />Secretary is hereby authorized and directed to attest, the final form of each such agreement, <br />as follows: <br />Indenture of Trust, between the Authority and U.S. Bank National Association, <br />as trustee (the “Trustee”), setting forth the terms and provisions relating to <br />the Refunding Bonds; <br />Site Lease, between the City as lessor and the Authority as lessee, under which <br />the City leases the Leased Property to the Authority in consideration of the <br />payment of an upfront amount which will be applied by the City to refinance <br />the 2007 Certificates; <br />Lease Agreement, between the Authority as lessor and the City as lessee, under <br />which the Authority leases the Leased Property back to the City and the City <br />agrees to pay semiannual lease payments to provide revenues with which to <br />pay principal of and interest on the Refunding Bonds when due; <br />Assignment Agreement, between the Authority and the Trustee, whereby the <br />Authority assigns certain of its rights under the Lease Agreement to the <br />Trustee for the benefit of the Refunding Bond owners; and <br />Refunding Instructions, for the 2007 Certificates, from the City and the Authority <br />to U.S. Bank National Association, as trustee for the 2007 Certificates, <br />providing the deposit, investment and application of funds to refinance the <br />Page 2 City of San Leandro Printed on 10/11/2016