Resolution 14462CITY OF ALAMEDA RESOLUTION NO. 14462
APPROVING REVISED DOCUMENTS RELATED TO THE ISSUANCE
OF REFUNDING BONDS FOR THE CITY'S COMMUNITY FACILITIES
DISTRICT NO. 1 (HARBOR BAY) AND MARINA VILLAGE
ASSESSMENT DISTRICT 89 -1, AND AUTHORIZING ACTIONS IN
CONNECTION THEREWITH
WHEREAS, on June 15, 2010 the City Council of the City of Alameda
(the "City ") adopted Resolution No. 14459 (the "Prior Resolution ") authorizing
the issuance of two series of refunding bonds (the "Local Obligations ") and the
sale of the Local Obligations to the Alameda Public Financing Authority (the
"Authority ") in order to provide funds to refund the outstanding City of Alameda
Community Facilities District No 1 (Harbor Bay) 1996 Special Tax Refunding
Bonds (the "Prior CFD Bonds ") and the outstanding Limited Obligation
Improvement Bonds, City of Alameda, Marina Village Assessment District 89 -1,
Series 89 -1 (the "Prior Assessment Bonds "), resulting in lower future special tax
levies on homeowners in the City's Community Facilities District No 1 (Harbor
Bay) (the "CFD ") and lower future assessment levies on properties in the City's
Marina Village Assessment District 89 -1 (the "Assessment District "); and
WHEREAS, the Prior Resolution also approved the sale by the Authority
of bonds of the Authority (the "Authority Bonds ") the proceeds of which are to
be used to purchase the Local Obligations, and certain documents related
thereto including a Preliminary Official Statement describing the Authority
Bonds, the Local Obligations, the CFD and the Assessment District; and
WHEREAS, in order to obtain the most favorable credit ratings for the
Authority. Bonds resulting in lower interest rates for the Authority Bonds and the
Local Obligations, City Staff and the co- financial advisors to the Authority for
the Authority Bonds have determined that it is necessary to revise the
Preliminary Official Statement to allow for two series of the Authority Bonds to
be issued, a senior series and a subordinate series; and
WHEREAS, there is on file with the City Clerk a revised draft of the
Preliminary Official Statement, and the City Council now desires to approve the
revised Preliminary Official Statement and to authorize the sale of the Authority
Bonds in two series as describe therein, so that the Authority Bonds ma y be
sold and issued at the lowest possible interest cost, and thereby the Local
Obligations maybe issued at the lowest possible interest cost.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ALAMEDA as follows:
Section 1. The revised Preliminary Official Statement for the Authority
Bonds, in the form on file with the City Clerk, is hereby approved and the
revised Preliminary Official Statement is hereby authorized to be distributed to
prospective purchasers of the Authority Bonds in the form hereby approved,
together with such additions thereto and changes therein as are determined
necessary or desirable by the City Manager, upon consultation with Disclosure
Counsel and the City Attorney, to make the revised Preliminary official
Statement final as of its date for purposes of Rule 15c2 -12 of the Securities
and Exchange Commission. The City Manager is hereby authorized to execute
a final official Statement in the form of the revised Preliminary Official
Statement, together with such changes as are determined necessary by the
City Manager, upon consultation with Disclosure Counsel and the City Attorney,
to make such Official Statement complete and accurate as of its date. The
distribution of the final Official Statement for the Authority Bonds and any
supplement thereto to the purchasers of the Authority Bonds is hereby
authorized.
Section 2. The sale of the Authority Bonds in two series, as described In
the revised Preliminary Official Statement, is hereby approved.
Section 3. References to the "Purchase Contract" in Section 6 of the
Prior Resolution are hereby deleted.
Section 4. Except for the approval of the revised Preliminary official
Statement, the approval of the sale of the Authority Bonds in two series as
contemplated by the revised Preliminary Official Statement, and the deletion of
references to the Purchase Contract in the Prior Resolution, as provided for in
Section 1, 2 and 3 above, the terms and provisions of the Prior Resolution are
hereby affirmed.
Section 5. The Mayor, City Manager, City Clerk and Treasurer of the
City and any other officers or staff of the City are hereby authorized and
directed to take any actions and execute and deliver any and all documents as
are necessary to accomplish the issuance, sale and delivery of the Local
Obligations and the Authority Bonds and the refunding of the Prior CFD Bonds
and the Prior Assessment Bonds in accordance with the provisions of the Prior
Resolution and this Resolution, and the fulfillment of the purposes of the Local
Obligations as described in the Prior Resolution and the revised Preliminary
Official Statement.
Section 6. This Resolution shall take effect upon its adoption by this City
Council.
* * * * * * * *
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda during the Special
Joint City Council, Alameda Public f=inancing Authority, Alameda Reuse and
Redevelopment Authority and Community Improvement Commission meeting on the
24th day of June, 2010, by the following vote to wit:
AYES: Councilmembers deHaan, Gilmore, Matarrese,
and Mayor Johnson - 4.
NOES: None.
ABSENT: None.
ABSTENTIONS: Councilrrember Tam
IN WITNESS, WHEREOF, 1 have hereunto set my hand and affixed the official seal of
said City this 25th day of June, 2010.
Lara Weisiger, Cit Ole
City of Alameda