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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br />RESOLUTION NO. 2018-135 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO TO <br />APPROVE DOCUMENTS AND ACTIONS RELATING TO THE ISSUANCE AND <br />SALE OF 2018 LEASE REVENUE BONDS BY THE SAN LEANDRO PUBLIC <br />FINANCING AUTHORITY TO FINANCE CERTAIN CAPITAL IMPROVEMENT <br />PROJECTS FOR THE CITY <br />WHEREAS, the San Leandro Public Financing Authority (the "Authority") has <br />previously issued its $14,125,000 San Leandro Public Financing Authority 2016 Refunding <br />Lease Revenue Bonds (the "2016 Bonds") for the purpose of refinancing certain capital projects <br />of the City of San Leandro (the "City"), including improvements to the City's main library <br />building and the acquisition and construction of two fire stations (the "Prior Project"); and <br />WHEREAS, in connection with the issuance of the 2016 Bonds, the City leased the real <br />property constituting its main library building, including both land and improvements (the <br />"Leased Property"), to the Authority in consideration of the payment by the Authority of an <br />upfront rental payment sufficient to provide funds to refinance the Prior Project, and the <br />Authority leased the Leased Property back to the City under a Lease Agreement (the "Lease <br />Agreement"), under which the City is obligated to pay semiannual lease payments as rental for <br />the Leased Property, and the Authority has assigned substantially all of its rights under the Lease <br />Agreement to U.S. Bank National Association, as trustee (the "Trustee"); and <br />WHEREAS, in order to finance additional capital projects of the City, the Authority is <br />undertaking to issue its San Leandro Public Financing Authority 2018 Lease Revenue Bonds (the <br />"2018 Bonds"), which will be payable from the lease payments, as increased following issuance <br />of the 2018 Bonds, and certain other amounts payable by the City under the Lease Agreement for <br />the Leased Property; and <br />WHEREAS, the Authority will issue the 2018 Bonds in the aggregate principal amount, <br />not to exceed $22,000,000, under Article 4 of Chapter 5, Division 7, Title 1 of the Government <br />Code of the State of California, commencing with Section 6584 of said Code (the "Bond Law"); <br />and <br />WHEREAS, the staff report accompanying this resolution contains the information the <br />Board of Directors of the Authority is required to obtain and disclose in a meeting open to the <br />public prior to authorizing the issuance of the 2018 Bonds pursuant to Section 5852.1 of the <br />Government Code; and <br />WHEREAS, the City Council wishes at this time to approve all proceedings of the City <br />relating to the issuance and sale of the 2018 Bonds. <br />RESOLUTION NO. 2018-135 <br />