RES 04023 - Laserfiche WebLink

Resolution No. 04-023 Page Two WHEREAS, the Authority and the City have agreed to execute and deliver a Local Obligation Administration Agreement, dated as of June 1, 2004 (the "Administration Agreement"), pursuant to which the City agrees to take certain actions with respect to the Local Obligations in a manner sufficient to ensure the security of the Bonds; and WHEREAS, the City has agreed to execute and deliver a Continuing Disclosure Agreement, dated as of June 1, 2004 (the "Continuing Disclosure Agreement"), pursuant to which the City, on behalf of the Authority, agrees to take certain annual disclosure actions with respect to the Local Obligations and the Bonds. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Approval of Bonds. The City Council hereby approves of the issuance of the Bonds by the Authority under and pursuant to the Refunding Law provided that the maximum aggregate principal amount of the Bonds shall not exceed $91,000,000. Section 2: Approval of Administration Agreement. The City Council hereby approves the Administration Agreement in substantially the form on file with the City Clerk, together with such additions thereto and changes therein as the City Attorney and Bond Counsel shall deem necessary, desirable or appropriate, the execution of which by the Mayor, the City Manager or the Director of Finance (or their designated representatives) shall be conclusive evidence of the approval of any such additions and changes. Section 3: Approval of Continuing Disclosure Agreement. The City Council hereby approves the Continuing Disclosure Agreement in substantially the form on file with the City Clerk, together with such additions thereto and changes therein as the City Attorney and Bond Counsel shall deem necessary, desirable or appropriate, the execution of which by the Mayor, the City Manager or the Director of Finance (or their designated representatives) shall be conclusive evidence of the approval of any such additions and changes. Section 4: Official Actions. The Mayor, City Manager, Director of Finance, City Clerk and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions, including execution and delivery of any and all assignments, certificates, requisitions, agreements, notices, consents, instruments of conveyance, warrants and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the transactions as described herein in connection with the issuance and sale of the Bonds by the Authority. Section 5: Effective Date. This Resolution shall take effect immediately upon adoption.