Resolution 09633CITY OF ALAMEDA RESOLUTION NO. 9633
AUTHORIZING THE ISSUANCE OF BONDS FOR THE
PURPOSE OF FINANCING CONSTRUCTION OF FACILITIES
BY ENCINAL INDUSTRIES, INC.
WHEREAS, the City Council of the City of Alameda
(the "City") has heretofore adopted its Ordinance No.
2057 (the "Ordinance") authorizing the City to issue and sell
its bonds pursuant to the City Charter for the purpose of
providing financing for the acquisition, construction and
improvement of commercial and industrial projects located
within the City; and
WHEREAS, Encinal Industries, Inc. (the "Company")
has requested the City to issue and sell its revenue bonds
for the purpose of financing certain industrial and trans-
portation facilities to be constructed by the Company within
the City and the City Council wishes to induce the Company
to construct and develop said facilities in the City; and
WHEREAS, it is in the public interest, for the
public benefit and in furtherance of the public purposes
of the City that the City Council authorize bonds for the
aforesaid purposes;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF ALAMEDA as follows:
Section 1. The City Council hereby authorizes the
issuance and sale of bonds of the City pursuant to the City
Charter and the procedures specified in the Ordinance in a
principal amount of not to exceed Twenty—Five Million Dollars
($25,000,000) for the purpose of providing permanent and/or
construction financing for the acquisition, construction,
remodeling, equipping and improvement of docks, wharves,
and related transportation facilities, offices, utilities
and related and appurtenant structures, facilities, land and
equipment to be located at the existing location of Encinal
Terminals at Buena Vista Avenue in the City (the "Project").
Such authorization shall be for the purpose of inducing the
Company to undertake to acquire, construct, remodel, equip
and develop such Project at such location.
Section 2. The City Council hereby finds and determines
that the Project is in accord with the Ordinance and that
the proposed financing will result in public benefits as
contemplated by the Ordinance.
Section 3. It is the present intent of the City
to issue, at one time or from time to time, bonds in the
amount described in Section 1.
Section 4. In order to set forth more fully the
obligations of the Company and the City in connection with
the issuance of such bonds, the Mayor is hereby authorized
to execute and deliver, in the name and on behalf of the City,
a Preliminary Agreement between the City and the Company in
substantially the form before this meeting, which is hereby
approved in all respects and by this reference incorporated
in this Resolution.
Section 5. Reference in this Resolution and the
Preliminary Agreement to the "Company" shall mean and include
any other corporation controlled by, in control of, or under
common control with, Encinal Industries, Inc., which may
undertake the Project, or any successor thereof.
Section 6. It is the purpose and intent of the
City that this resolution constitute "official action "
toward the issuance of obligations by the City for the
Project in accordance with Section 1.103-8(a) (5) (iii) of
the Regulations promulgated by the United States Department
c) of the Treasury under Section 103 of the Internal Revenue
Code of 1954, as amended.
!,1
Section 7. This Resolution shall take effect
immediately upon its passage.
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I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on 27th day of October, 1981,
by the following vote to wit:
AYES: Councilmen Diament, Gorman, Sherratt, Stone and President Corica - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 28th day of October, 1981.
-L)
City C1.erkThf the ty of leda