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WHEREAS, notice inviting competitive bids for the <br />construction of the Project was duly given in accordance with <br />applicable provisions of law, and bids were received on <br />March 9, 1989 for the construction of the Project; <br /> <br /> WHEREAS, the City desires to award the construction <br />contract for the Project to MJB Pipeline, the lowest <br />responsible bidder; <br /> <br /> WHEREAS, the City desires to reduce the costs of <br />construction, acquisition and financing of the Project and <br />such acquisition, construction and financing constitute <br />governmental affairs of the City; <br /> <br /> WHEREAS, City of Pleasanton Public Facilities <br />Corporation (herein called the "Corporation") is a nonprofit <br />corporation formed to render financial assistance to the City <br />by financing the acquisition, construction, improvement and <br />remodeling of public buildings and facilities for the City; <br /> <br /> WHEREAS, by its Articles of Incorporation and by its <br />Bylaws no part of the net earnings, funds or assets of said <br />Corporation shall inure to the benefit of any director thereof <br />or any other person, firm or corporation, except the City of <br />Pleasanton; <br /> <br /> WHEREAS, the City desires to assign the construction <br />contract for the Project to the Corporation and the City <br />desires the Corporation to cause the construction of the <br />Project~ <br /> <br /> 2 <br />4614M-040482 -000015-165 04/07/89 <br /> <br /> <br />