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2017 INSTALLMENT SALE AGREEMENT <br /> This 2017 INSTALLMENT SALE AGREEMENT (this "2017 Installment Sale <br /> Agreement"), dated as of February 1, 2017, is entered into by and between the City of <br /> Pleasanton, a municipal corporation duly organized and existing under and by virtue of the laws <br /> of the State of California(the "City"), and the Pleasanton Joint Powers Financing Authority, a <br /> joint action agency duly organized and existing under and by virtue of the laws of the State of <br /> California(the "Authority") <br /> RECITALS <br /> WHEREAS, the City has determined that the acquisition of certain additions, <br /> betterments, extensions and improvements as hereinafter described (the "Project") to its <br /> municipal water system is necessary and proper for City purposes and uses under the terms of <br /> applicable law and is for the common benefit of the City as a whole; and <br /> WHEREAS, the Authority has determined to acquire and sell the Project to the <br /> City, and <br /> WHEREAS, the City has determined to make installment sale payments as <br /> hereinafter described to the Authority for the purchase of the Project and the costs of the design, <br /> acquisition and construction thereof and the incidental costs and expenses related thereto paid by <br /> the Authority, and <br /> WHEREAS, all acts, conditions and things required by law to exist, to have <br /> happened and to have been performed precedent to and in connection with the execution and <br /> delivery of the 2017 Installment Sale Agreement do exist, have happened and have been <br /> performed in regular and due time, form and manner as required by law, and the parties hereto <br /> are now duly authorized to execute and enter into the 2017 Installment Sale Agreement, <br /> NOW, THEREFORE, IN CONSIDERATION OF THE FOREGOING <br /> RECITALS AND OF THE MUTUAL AGREEMENTS AND COVENANTS CONTAINED <br /> HEREIN AND FOR OTHER VALUABLE CONSIDERATION, THE PARTIES HERETO DO <br /> HEREBY AGREE AS FOLLOWS <br /> ARTICLE I <br /> DEFINITIONS <br /> SECTION 1 01 Definitions Unless the context otherwise requires, the terms <br /> defined in this section shall for all purposes hereof and of any amendment hereof or supplement <br /> hereto and of any opinion or report or other document mentioned herein or therein have the <br /> meanings defined herein, the following definitions to be equally applicable to both the singular <br /> and plural forms of any of the terms defined herein <br /> "Accountant's Report" means a report signed by an Independent Certified <br /> Public Accountant <br /> 1 <br /> 27626823 <br />