Reso 2016-136 - Laserfiche WebLink

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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Leandro as follows: SECTION 1. Issuance of Refunding Bonds. The City Council hereby approves the issuance of the Refunding Bonds by the Authority under the Bond Law in the maximum principal amount of not to exceed $15,800,000, for the purpose of providing funds to refinance the 2007 Certificates. SECTION 2. Approval of Related Financing Agreements. The City Council hereby approves each of the following agreements required for the issuance and sale of the Refunding Bonds and the refinancing of the 2007 Certificates, in substantially the respective forms on file with the City Clerk together with any changes therein or additions thereto (including the addition of a reserve account) deemed advisable by the Mayor, City Manager, Assistant City Manager or the Finance Director (each, an "Authorized Officer"), whose execution thereof shall be conclusive evidence of the approval of any such changes or additions. An Authorized Officer is hereby authorized and directed for and on behalf of the City County to execute, and the City Clerk is hereby authorized and directed to attest, the final form of each such agreement, as follows: • Site Lease, between the City as lessor and the Authority as lessee, under which the City leases the Leased Property to the Authority in consideration of the payment of an upfront amount which will be applied by the City to refinance the 2007 Certificates; • Lease Agreement, between the Authority as lessor and the City as lessee, under which the Authority leases the Leased Property back to the City and the City agrees to pay semiannual lease payments to provide revenues with which to pay principal of and interest on the Refunding Bonds when due; • Refunding Instructions, for the 2007 Certificates, from the City and the Authority to U.S. Bank National Association, as trustee for the 2007 Certificates, providing the deposit, investment and application of funds to refinance the 2007 Certificates; • Indemnity Letter, from the City to the trustee for the 2007 Certificates relating to the giving of a rescindable notice of prepayment; and • Continuing; Disclosure Certificate, to be executed by the City. RESOLUTION NO. 2016-136