Reso 2018-135 - 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 2018 BONDS. The City Council hereby approves the issuance of the 2018 Bonds by the Authority under the Bond Law in the maximum principal amount not to exceed $22,000,000, for the purpose of providing funds to finance capital improvement projects of the City. 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 2018 Bonds, 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 to execute, and the City Clerk is hereby authorized and directed to attest, the final form of each such agreement, as follows: First Amendment to Site Lease, between the City, as lessor, and the Authority, as lessee, amending the Site Lease pursuant to which the City has leased the Leased Property to the Authority in consideration of the payment of an upfront amount which was applied by the City to refinance the Prior Project, and pursuant to which an additional payment will be made to finance the costs of the capital improvement projects; First Amendment to Lease Agreement, between the Authority, as lessor, and the City, as lessee, amending the Lease Agreement pursuant to which the Authority has leased the Leased Property back to the City in consideration of the payment of semiannual lease payments to the Authority, which payments the Authority has assigned to the Trustee and which will be updated to reflect the increased lease payments due following issuance of the 2018 Bonds; and Continuing Disclosure Certificate, to be executed by the City, providing for the ongoing disclosure of certain information related to the 2018 Bonds in accordance with Rule 15c2-12 of the Securities Exchange Act of 1934. SECTION 3. NEGOTIATED SALE OF 2018 BONDS. The City Council hereby approves the negotiated sale of the 2018 Bonds by the Authority to Stifel, Nicolaus & Company, Incorporated, as underwriter (the "Underwriter"). The 2018 Bonds shall be sold pursuant to the terms and provisions of a Bond Purchase Agreement among the Authority, the City and the Underwriter in substantially the form on file with the City Clerk, together with any changes therein or additions thereto deemed advisable by an Authorized Officer; provided, that the true interest cost of the 2018 Bonds shall not exceed 5.0% and the Underwriter's discount on the 2018 Bonds shall not exceed 0.5%. RESOLUTION NO. 2018-135 2