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ATTACHMENT 2 DRAT:" TL-]12-27 RESOLUTION NO A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING THE FORM OF AN INSTALLMENT SALE AGREEMENT CONCERNING THE ACQUISITION OF CERTAIN MUNICIPAL WATER SYSTEM IMPROVEMENTS AND AUTHORIZING THE EXECUTION AND DELIVERY THEREOF, AND APPROVING THE ISSUANCE BY THE PLEASANTON JOINT POWERS FINANCING AUTHORITY OF NOT TO EXCEED $7,400,000 AGGREGATE PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2017 WHEREAS, Article 1 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California authorizes and empowers local agencies to form a joint powers authority and Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "Mark-Roos Local Bond Pooling Act of 1985") authorizes and empowers such an authority to issue bonds for the purpose of financing and refinancing public capital improvements, working capital, liability and other insurance needs, or projects whenever there are significant public benefits, as determined by the local agency, and WHEREAS, the City of Pleasanton (the "City") and the Housing Authority of the City of Pleasanton have created and established, pursuant to the laws of the State of California, the Pleasanton Joint Powers Financing Authority (the "Authority") for the purpose of issuing bonds to finance and refinance public capital improvements, working capital, liability and other insurance needs or projects, including but not limited to the engineering, design, acquisition, installation, and improvement of certain facilities for the expansion of the municipal recycled water system of the City (the "Project"), and WHEREAS, the City has determined that it is desirable and furthers the public purpose and that there are significant public benefits to be derived from securing the assistance of the Authority in financing the Project, in that the City and the Authority will benefit from demonstrable savings in the cost of financing the Project as a result of the issuance of bonds by the Authority pursuant to the Marks-Roos Local Bond Pooling Act of 1985, and WHEREAS, in order to achieve such public purpose, the City desires to approve the Authority's issuance of not to exceed $7,400,000 in aggregate principal amount of the Authority's Pleasanton Joint Powers Financing Authority Water Revenue Bonds, Series 2017 (the "Bonds") to finance the Project, and WHEREAS, there has been presented to this meeting a proposed form of 2017 Installment Sale Agreement, dated as of February 1, 2017 (the "Agreement"), by and between the City and the Authority, pursuant to which the City will transfer of the Project to the Authority, and the Authority will sell the Project to the City and the City will agree to make payments to the Authority for the purchase of the Project, as the terms of such payments are set forth in the Agreement, and WHEREAS, the Authority intends to sell the Bonds to JP Morgan Chase Bank, N A (the "Purchaser") and all other acts necessary or desirable in connection therewith, 2763889 1