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Participation and bids for the Certificates of Participation <br />were received at 10:00 A.M. on October 15, 1991; <br />WHEREAS, the City wishes to award the purchase of <br />the Certificates of Participation to the bidder bidding the <br />lowest net interest cost to the City; <br />WHEREAS, the City has full legal right, power and <br />authority under the Constitution and the laws of the State of <br />California to enter into the transactions hereinafter <br />authorized; <br />WHEREAS, there is on file with the City Clerk the <br />form of each document referred to herein, relating to such <br />financing of the Project; and <br />WHEREAS, all acts, conditions and things required by <br />the Constitution and laws of the State of California to exist, <br />to have happened and to have been performed precedent to and <br />in connection with the consummation of such financing <br />authorized hereby do exist, have happened and have been <br />performed in regular and due time, form and manner as required <br />by law, and the City is now duly authorized and empowered, <br />pursuant to each and every requirement of law, to consummate <br />such financing for the purpose, in the manner and upon the <br />terms herein provided; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council <br />of the City of Pleasanton, as follows: <br />Section 1. All of the recitals herein contained are <br />true and correct and this City Council so finds. <br />4 <br />06112 <br />