RES 88498 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 88-498 RESOLUTION DETERMINING TO PROCEED WITH CERTIFICATE OF PARTICIPATION FINANCING FOR CONSTRUCTION OF A CORPORATION YARD, AUTHORIZING UNDERWRITER TO DISTRIBUTE PRELIMINARY OFFICIAL STATEMENT AND AUTHORIZING CITY OFFICIATa TO TAKE NECESSARY ACTIONS TO CONSUMMATE TRANSACTIONS WHEREAS, this City Council hereby determines that it would be in the best interest of the City to enter into a certificate of participation financing for the construction of a corporation yard (herein called the "Project"); and WHEREAS, it is contemplated that the City will transfer certain capital improvement projects (herein called the "Facilities") to the City of Pleasanton Public Facilities Corporation (herein called the "Corporation"), and the Corporation will leaseback the Facilities to the City pursuant to a Facility Lease dated as of December 1, 1988 (herein called the "Facility Lease"); and WHEREAS, it is contemplated that the trustee under a trust agreement to be executed in connection with the certificate of participation financing will execute and deliver certificates of participation (herein called the "Certificates of Participation") in rental payments to be made by the City for the Facilities pursuant to the Facility Lease; and WHEREAS, the proceeds of the Certificates of Participation will be applied to pay the cost of construction of the Project; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: All of the recitals herein contained are true and correct and this City Council so finds. Section 2: This City Council hereby determines to proceed with a Certificates of Participation financing for the construction of the Project.