RES 94044 - Laserfiche WebLink

CONVEYANCEAGREEMENT THIS CONVEYANCE AGREEMENT is entered into as of the first day of May, 1994 by and between the CITY OF PLEASANTON, a public body, duly organized and existing under the laws of the State of California (the "City") and the PLEASANTON JOINT POWERS FINANCING AUTHORITY, a joint powers authority duly organized and existing under the laws of the State of California (the "Authority"). RECITALS WHEREAS, the City and the Authority desire to authorize the sale and delivery of water and sewer revenue bonds (the "Bonds"), to be secured by installment purchase payments to be made by the City, as purchaser of certain water facilities, as more fully described in Exhibit A hereto (the "Project), to the Authority, as seller, pursuant to that certain installment purchase contract dated as of May 1, 1994 (the "Installment Purchase Contract") in order to provide funds to refinance the Project. NOW, THEREFORE, in consideration of receipt of the amount of $ by the City as the purchase price of the Project, and of the foregoing and the mutual covenants and conditions contained herein, the parties hereto agree as follows: Section 1. The City hereby sells, conveys and transfers to the Authority all of its right, title and interest in and to the Project, and the Corporation hereby purchases, acquires and accepts from the City all of the City's right, title and interest in and to the Project, subject to the obligation of the Authority to resell the Project to the City pursuant to the Installment Purchase Contract. Section 2. The City hereby agrees to cooperate and provide further assurances to the Authority in order to accomplish the purposes of this Conveyance Agreement. The City hereby agrees to indemnity and hold the Authority harmless against any and all claims, losses, costs or damages as a result of the City's conveyance of the Project to the Authority as provided herein, or the acquisition and construction of the Project. 94072008.LA1 1