RES 03115 - Laserfiche WebLink

Resolution No. 03-115 Page 2 Section 2. Pursuant to the Act and the Indenture (hereinafter defined), revenue bonds of the City designated as "City of Pleasanton, California Variable Rate Demand Multifamily Housing Revenue Bonds (Busch Senior Housing), Series 2003A" in an aggregate principal mount of not to exceed $13,540,000 (the "Bonds"), are hereby authorized to be issued. The Bonds shall be executed by the manual or facsimile signature of the City Manager, the facsimile of the seal of the City shall be reproduced thereon and attested by the manual or facsimile signature of the City Clerk, in the form set forth in and otherwise in accordance with the Indenture. Section 3. The trust indenture relating to the Bonds (the "Indenture") by and between the City and BNY Western Trust Company, as trustee (the "Trustee"), in the form on file with the City Clerk, is hereby approved. The City Manager is hereby authorized and directed to execute and deliver the Indenture in said form, together with such additions thereto or changes therein as are recommended or approved by the City Manager upon consultation with the City Attorney and Bond Counsel (including such additions or changes as are necessary or advisable in accordance with Section 10 hereof, provided that no additions or changes shall authorize an aggregate principal amount of the Bonds in excess of the amount set forth in Section 2 above), the approval of such additions or changes to be conclusively evidenced by the execution and delivery of the Indenture by the City. The date, maturity dates, interest rate or rates, privileges, manner of execution, place of payment, terms of redemption and other terms of the Bonds shall be as provided in the Indenture as finally executed. Section 4. The financing agreement relating to the Bonds (the "Financing Agreement") among the Trustee, the City and the Developer, in the form on file with the City Clerk, is hereby approved. The City Manager is hereby authorized and directed to execute and deliver the Financing Agreement in said form, together with such additions thereto or changes therein as are recommended or approved by the City Manager upon consultation with the City Attorney and Bond Counsel (including such additions or changes as are necessary or advisable in accordance with Section 10 hereof), the approval of such changes to be conclusively evidenced by the execution and delivery of the Financing Agreement by the City. Section 5. The regulatory agreement and declaration of restrictive covenants relating to the Bonds, among the City, the Trustee and the Developer (the "Regulatory Agreement"), in the form on file with the City Clerk, is hereby approved. The City Manager is hereby authorized and directed to execute and deliver the Regulatory Agreement in said form, together with such additions thereto or changes therein as are recommended or approved by the City Manager upon consultation with the City Attorney and Bond Counsel (including such additions or changes as are necessary or advisable in accordance with Section 10 hereof), the approval of such additions or changes to be conclusively evidenced by the execution and delivery of the Regulatory Agreement by the City. Section 6. The bond purchase agreement for the Bonds (the "Purchase Contract") among the City, Newman & Associates, a Division of GMAC Commercial Holding Capital Markets Corp. (the "Underwriter") and the Developer in the form on file with the City Clerk, is hereby approved. The City Manager is hereby authorized and directed to accept the offer of the Underwriter to purchase the Bonds contained in the Purchase Contract and