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Resolution 10175JHHW:CFA:dfd RESOLUTION NO. 10175 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA SELLING $4,900,000 PRINCIPAL AMOUNT OF CITY OF ALAMEDA 1983 TAX AND REVENUE ANTICIPATION NOTES AND AUTHORIZING OFFICIAL ACTION 9/20/83 10/04/83 WHEREAS, the City of Alameda (the "City ") by its resolution adopted September 20, 1983 (the 'Resolution ") heretofore duly authorized the issuance of its notes designated as "City of Alameda 1983 Tax and Revenue Anticipation Notes" (the "Notes "); and WHEREAS, notice of the sale of the Notes has been duly given in the manner prescribed by law, and the following bids were and are the only bids received by the City: Name of Bidder 1. Lehman Brothers Kuhn Loeb 2. Security Pacific National Bank 3. Crocker National Bank 4. First Interstate Bank of California 5. Prudential - Bache Securities 6. Bank of America and Interest Rate Bid $ 350,000 at 5.85% $4,550,000 at 5.93! 5.96% 5.96% 5.98% 6.02% 6.04% WHEREAS, the bid of Lehman Brothers Kuhn Loeb is the best bid for the Notes, considering the interest rate specified and the premium bid; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Alameda, as follows: Section 1. Said bid of Lehman Brothers Kuhn Loeb for $4,900,000 principal amount of the Notes is hereby accepted and the Finance Director is hereby authorized and directed to deliver the Notes to said purchaser thereof upon payment to said Finance Director of the purchase price, namely, said par value thereof, plus interest accrued on such Notes to the date of delivery thereof. The Notes in the principal amount of $350,000 shall bear interest at the rate of 5.85% per annum, and Notes in the principal amount of $4,550,000 shall bear interest at the rate of 5.93% per annum, payable at the times set forth in the Resolution. Section 2. All bids except the bid of Lehman Brothers Kuhn Loeb are hereby rejected, and the Finance Director is hereby directed to return to the unsuccessful bidders their several checks accompanying their respective bids. Section 3. Jones Hall Hill & White, A Professional Law Corporation, as bond counsel to the City, is directed to cause suitable Notes to be prepared showing on their face that the same bear interest at the rate aforesaid, and to cause the blank spaces therein to be filled in to comply with the provisions of the Resolution, as hereinafter amended, and to procure their execution by the proper officers, and to cause the Notes to be delivered when so executed to the purchaser or purchasers thereof upon the receipt of the purchase price by the Finance Director. The Mayor, the Finance Director, the City Manager and the City Clerk, or any of them, are further authorized and directed to make, execute and deliver to the purchaser of the Notes (a) a certificate in the form customarily required by purchaser of bonds of public corporations generally, certifying to the genuineness and due execution of the Notes, (b) a receipt in similar form evidencing the payment of the purchase price of the Notes, which receipt shall be conclusive evidence that said purchase price has been paid and has been received by the City, and (c) a certificate attesting to the use of the proceeds of the Notes, the investment thereof, and any other matters relating to the tax exemption of the Notes, pursuant to Section 103(c) of the Internal Revenue Code of 1954, as amended. Any purchaser or subsequent taker or holder of the Notes is hereby authorized to rely upon and shall be justified in relying upon any such certificate or receipt with respect to the Notes. Such officers and any other officers of the City are hereby authorized to execute any and all documents required to consummate the sale and delivery of the Notes. Section 4. A final form of Official Statement describing the Notes having been submitted to the City Council by Drexel Burnham Lambert Incorporated, said form of Official Statement is hereby approved together with any changes thereto deemed advisable by the Finance Director, and the appropriate officer of the City is hereby authorized and directed to execute said Official Statement for and in the name and on behalf of the City. PASSED AND ADOPTED this 4th day of October, 1983, by the following vote: AYES: Councilmembers: NOES: Councilmembers: ABSENT: Councilmembers: ABSTAIN: Councilmembers: Attest: 2 Mayor CITY CLERK'S CERTIFICATE I, E. Deen Speegle, City Clerk of the City of Alameda, hereby certify that the foregoing is a full, true and correct copy of Resolution No. /0/7c which was duly adopted at a regular meeting of the City Council of said City duly and regularly held at the regular meeting place thereof on October 4, 1983, of which meeting all of the members of said City Council had due notice and at which a majority thereof was present, and that at said meeting said Resolution No. /pJ 7 as adopted by the following vote: AYES: Councilmembers: NOES: Councilmembers: ABSENT: Councilmembers: IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal of said City on /e 5 , 1983. This is to 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 the 4th of October, 1983, by the following vote to wit: AYES: Councilmembers Gorman, Hanna, Lucas, Monsef and President Diament - 5. NOES: None. ABSENT: None. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 5th day of October, 1983.