Resolution 13634CITY OF ALAMEDA RESOLUTION NO. 1 3 6 3 4
APPROVING THE ISSUANCE OF TAX ALLOCATION REFUNDING BONDS OF
THE COMMUNITY IMPROVEMENT COMMISSION OF THE CITY OF ALAMEDA
AND RELATED ESCROW AGREEMENT
RESOLVED, by the City Council (the "Council") of the City of Alameda (the "City"), as
follows:
WHEREAS, on March 14, 2002 the City issued its $10,000,000 City of Alameda
Community Facilities District No. 4 (Demolition and Backbone Infrastructure - FISC and East
Housing Sites) Special Tax Bonds, Series 2002-A (the "CFD Bonds") to finance the demolition of
existing structures and the construction of backbone infrastructure improvements in the FISC
and East Housing Site areas of the former Alameda Naval Air Station, and the Community
Improvement Commission of the City of Alameda (the "CIC") entered into a CIC Pledge
Agreement, dated as of March 1, 2003 (the "Please Agreement"), with the City whereby the CIC
agreed to pay the debt service on the CFD Bonds; and
WHEREAS, the CIC has determined at this time to issue its Community Improvement
Commission of the City of Alameda Tax Allocation Refunding Bonds (Business and Waterfront
Improvement Area), Series 2003C and its Community Improvement Commission of the City of
Alameda Taxable Tax Allocation Refunding Bonds (Business and Waterfront Improvement
Area), Series 2003D (collectively, the "Refunding Bonds") to provide funds to refinance the
CIC's obligations under the Pledge Agreement and otherwise with respect to the Parity
Obligations (as such term is defined in the Pledge Agreement); and
WHEREAS, in accordance with the requirements of Section 33640 of the California
Health and Safety Code, the City Council wishes at this time to approve the issuance and sale
of the Refunding Bonds by the CIC and an Escrow Deposit and Trust Agreement (the "Escrow
Agreement") related to the discharge of the CFD Bonds, the Pledge Agreement and the Parity
Obligations.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. Approval of Refunding Bonds. This City Council hereby authorizes and
approves the issuance of the Refunding Bonds by the CIC in the maximum aggregate principal
amount of $19,000,000, and the sale by the CIC to E. J. De La Rosa & Co., Inc. (the
"Underwriter") of the Refunding Bonds.
Section 2. Approval of Escrow Agreement. The Escrow Agreement in the form on file
with the City Clerk, is hereby approved. The City Manager and the Director of Finance (the
"Authorized Officers"), each acting alone, are hereby authorized and directed to execute and
deliver the Escrow Agreement in said form, with such additions thereto or changes therein as
are approved by the officer of the City executing such document, upon consultation with the
City Attorney and Bond Counsel, the approval of such additions or changes to be conclusively
evidenced by the execution and delivery of the Escrow Agreement by an Authorized Officer.
Section 3. Official Actions. The Mayor, City Manager, Director of Finance, City Clerk
and any and all other officers of the City are hereby authorized and directed, for and in the
name and on behalf of the City, to do any and all things and take any and all actions, including
execution and delivery of any and all assignments, certificates, requisitions, agreements,
notices, consents, instruments of conveyance, warrants and other documents which they, or
any of them, may deem necessary or advisable in order to consummate the issuance of the
Refunding Bonds by the CIC, the sale of the Refunding Bonds to the Underwriter, and the
discharge of the CFD Bonds and the Pledge Agreement as contemplated by the Escrow
Agreement.
Section 4. Effective Date. This resolution shall take effect immediately upon its
adoption.
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 a Special Joint City Council,
Community Improvement Commission, and Alameda Public Financing Authority meeting
assembled on the 7th day of October, 2003, by the following vote to wit:
Councilmembers Daysog, Gilmore, Kerr,'Matarrese, and
Mayor Johnson - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said City this
8th day of October, 2003.
Lara Weisiger, City'rk
City of Alameda