RES 95109 - Laserfiche WebLink

-o Resolution No. 95-109 Page 2 WHEREAS, pursuant to Section 147(f') of the Internal Revenue Code of 1986 (the "Code") the financing and the execution and delivery of the Purchase Agreement by CSCDA must be approved by the City because the Facilities are located within the territorial limits of the City; and WHEREAS, the City Council is the elected legislative body of the City and is one of the applicable elected representatives required to approve the financing and the execution and delivery of the Purchase Agreement under Section 147(f) of the Code; and WHEREAS, CSCDA and the Corporation have requested that the City Council approve the financing and the execution and delivery of the Purchase Agreement in order to satisfy the public approval requirement of Section 147(f) of the Code, the requirements of Section 9 of the Joint Exercise of Powers Agreement (the "Agreement"), dated as of June 1, 1988, among certain local agencies, including the City; and WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following notice duly given, held a public hearing regarding the financing and the execution and delivery of the Purchase Agreement, and now desires to approve the financing and the issuance of the Purchase Agreement. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council hereby approves the financing described above and the Purchase Agreement. It is the purpose and intent of the City Council that this resolution constitute approval of the financing and the execution and delivery of the Purchase Agreement (and the execution and delivery of the certificates of participation related thereto) for the purposes of (a) Section 147(0 of the Code by the applicable elected representative of the governmental unit having jurisdiction over the area in which the facilities are located, in accordance with said Section 147(f), and (b) Section 9 of the Agreement.