APFA Resolution 03-13ALAMEDA PUBLIC FINANCING AUTHORITY
RESOLUTION NO. 0 3-13
APPROVING ESCROW AGREEMENT RELATED TO REFUNDING OF
2002 REVENUE BONDS, SERIES A AND SERIES B
RESOLVED, by the Board of Directors (the "Board ") of the Alameda Public Financing
Authority (the "Authority "), as follows:
WHEREAS, on March 14, 2002, the Authority issued its $10,000,000 Alameda Public
Financing Authority 2002 Revenue Bonds (BWIP Tax Increment and CFD No 4 Financing)
Variable Rate Demand Taxable Series A and its $5,220,000 Alameda Public Financing Authority
2002 Revenue Bonds (BWIP Tax Increment and CFD No 4 Financing) Variable Rate Demand
Taxable Series B (collectively, the "Bonds "); and
WHEREAS, the proceeds of the Bonds were used to acquire the Community-
Improvement Commission of the City of Alameda Business and Waterfront Improvement
Project Tax Allocation Bonds, 2002 Series A (the "CIC Bonds "), and the 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 "), and the Community
Improvement Commission of the City of Alameda (the "CIC') has pledged tax increment
revenues from its Business and Waterfront Improvement Project area to the repayment of the
CIC Bonds and the CFD Bonds; and
WHEREAS, in order to realize interest rate savings due to current bond market
conditions, the CIC expects to issue its Community Improvement Commission of the City of
Alameda Tax Allocation Refunding Bonds (Business and Waterfront Improvement Area), Series
2003C and Community Improvement Commission of the City of Alameda Taxable Tax
Allocation Refunding Bonds (Business and Waterfront Improvement Area), Series 2003D
(collectively, the "CIC Refunding Bonds "), and to use the proceeds of the CIC Refunding Bonds
to redeem in full the Bonds and to make a termination payment under a Swap Agreement
related to the Bonds, and thereby discharge the CIC Bonds and the CFD Bonds; and
WHEREAS, the Authority desires to assist the CIC in connection with the refunding
transaction and to approve an Escrow Deposit and Trust Agreement (the "Escrow Agreement ")
related thereto.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Sect-ion 1. Approval of Refunding. The Authority hereby approves the refunding of the
Bonds with the proceeds of the CIC Refunding Bonds.
Section 2. Approval of .Escrow Agreement. The Escrow Deposit and Trust Agreement
(the "Escrow Agreement') related to the refunding of the Authority Bonds, in the form on file
with the Secretary, is hereby approved. The Executive Director is hereby authorized and
directed to execute and deliver the Escrow Agreement in said form, with such additions thereto
or changes therein as are recommended or approved by the Executive Director 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 the Authority.
Section 3. Official Actions. The Chairman, the Executive Director, the Finance Director,
the Secretary and any and all other officers of the Authority are hereby authorized and
directed, for and in the name and on behalf of the Authority, 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 refunding of the Bonds with the proceeds of the CIC Refunding Bonds, as
described herein.
Section 4. Effective Date. This Resolution shall take effect from and after its adoption.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by the Alameda Public Financing Authority 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:
AYES: Boardmembers Daysog, Gilmore, Kerr, Matarrese and
Chair Johnson - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said
Authority this 8th day of October, 2003.
f2,1 _ter
Lara Weisiger, Secretary
Alameda Public Financing Authority