RES 94046 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAJvIEDA COUNTY, CALIFORNIA RESOLUTION NO. 94-46 RESOLUTION APPROVING A TERMINATION AGREEMENT AND ESCROW INSTRUCTIONS; MAKING CERTAIN D~T~JcMINATIONS RELATING 'tHEtCETO; AND A'UTHORIZING CERTAIN ACTIONS IN CONNECTION THEREW felt WHEREAS, theCityofPleasanton(the"City')isamunicipalcorpora~ondulyorganizedand validly existing under the Constitution and laws of the State of California; and there has previously been issued Certificates of Partidpation (Capital Projects I and II) and Certificates of Participation (Capital Improvements Projects) (collectively, the "Prior Obligations"), which such Prior Obligations are secured by certain lease obligations of the City, and which the City now desires to refmance; and WHEREAS, WHEREAS, the Pleasanmn Joint Powers Financing Authority (the "Authority") is authorized under the Merks-Roos Local Bond Pooling Act of 1985, constituting Article 4, Chapter 5, Division 7, Ti~e i (commencing with Setion 6584) of the California Oovernment Cede, as amended (the "JPA Act"), and under the loint Exercise of Powers Agreement, dated as of ~'une 29, 1993, as amended, by and between the City and the Picasanton Housing Authority, to issue revenue bonds in COnnection with the financing and re~nancing of certain public capital improvements; and in order to enter into agreements witl'/the Authority in order to refund the Prior Obligations it must first terminate certain lease documents previously entered into with the City of Pleasanton Public Facilities Corporation (the "Corporation") and provide for an escrow to pay remaining payments on the Prior Obligations; and V~HEREAS, there have been presented at this meeting a form of termination agreement and escrow instructions; NOW, THEREFORE, THB CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: