Resolution 13383CITY OF ALAMEDA RESOLUTION NO. 13383
APPROVING THE ISSUANCE OF BONDS OF THE COMMUNITY
IMPROVEMENT COMMISSION OF THE CITY OF ALAMEDA AND THE
PURCHASE THEREOF BY THE ALAMEDA PUBLIC FINANCING AUTHORITY
AND MAKING FINDINGS WITH RESPECT TO BONDS TO BE ISSUED BY
THE ALAMEDA PUBLIC FINANCING AUTHORITY
(COMMUNITY FACILITIES DISTRICT NO. 4 -
FISC AND EAST HOUSING SITES)
RESOLVED, by the City Council (the "Council") of the City of Alameda (the "City"), as
follows:
WHEREAS, the City of Alameda (the "City") and the Community Improvement
Commission of the City of Alameda (the "CIC") have heretofore entered into a Joint Exercise of
Powers Agreement establishing the Alameda Public Financing Authority (the "Authority") for
the purpose, among others, of issuing its bonds to be used to provide financial assistance to the
City and the CIC; and
WHEREAS, the City has determined to issue its City of Alameda Community Facilities
District No 4 (Demolition and Backbone Infrastructure - FISC and East Housing Sites) Special
Tax Bonds (the "CFD Bonds") to fi_nance 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 City has requested that the Authority issue
its revenue bonds in an amount sufficient to purchase the CFD Bonds; and
WHEREAS, the CIC has determined at this time to issue its Community Improvement
Commission of the City of Alameda Business and Waterfront Improvement Project 2001 Tax
Allocation Bonds (the "CIC Bonds") to provide funds to finance housing and redevelopment
projects of the CIC within or of benefit to the CIC's Business and Waterfront Improvement
Project (the "BWIP Project") and to repay certain advances made by the City to the CIC for the
benefit of the BWIP Project, and the CIC has requested that the Authority issue its revenue
bonds in an amount sufficient to purchase the CIC Bonds; 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 CIC Bonds by the CIC; and
WHEREAS, for the purpose of raising funds necessary to provide such financial
assistance to the City and the CIC, the Authority proposes to authorize the issuance of its
revenue bonds (the "Bonds") under the provisions of Article 4 (commencing with Section 6584)
of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the
"Code"), designated as the Alameda Public Financing Authority 2001 Revenue Bonds (the
"Authority Bonds"); and
WHEREAS, the City has on this date held a duly noticed public hearing on the
financing of improvements (the "Improvements") by the Authority with the proceeds of the
Authority Bonds by means of the use of the proceeds of the Authority Bonds to purchase the
CIC Bonds and the CFD Bonds, as required by Section 6586.5(a) of the Code; and
WHEREAS, the City Council of the City now desires to make a finding of significant
public benefit, pursuant to Section 6586.5(a)(2) of the Code, and to approve of the financing of
the Improvements by the Authority.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. Approval of CIC Bonds. This City Council hereby authorizes and approves
the issuance of the CIC Bonds by the CIC in the maximum aggregate principal amount of
$12,000,000, and the sale by the CIC to the Authority of the CIC Bonds.
Section 2. Findings Related to and Approval of Authority Bonds. The City Council
hereby finds that significant public benefits will arise from the financing of the Improvements
with the proceeds of the Authority Bonds, in accordance with Section 6586 of the Code, in that
the financing will result in demonstrable savings in effective interest rates, bond preparation,
bond underwriting and bond issuance costs as only one issue (comprised of three series) of the
Authority Bonds will be offered for sale to the public (as opposed to two separate issues of
bonds that would otherwise need to be offered for sale to the public by the City and the CIC in
respect of the CFD Bonds and the CIC Bonds) to finance the Improvements, thereby saving
printing and marketing costs that would otherwise be incurred for two such offerings instead
of a single Authority Bond offering. The City Council hereby approves the financing of the
Improvements with the proceeds of the Authority Bonds.
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 CFD
Bonds by the City, the CIC Bonds by the CIC, the Authority Bonds by the Authority, the sale of
the CFD Bonds and the CIC Bonds to the Authority, and the sale of the Authority Bonds to the
underwriter of the Authority Bonds.
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 21st day of August, 2001, by the following vote to wit:
AYES: Councilmembers Daysog, DeWitt, Johnson, Kerr and
Mayor Appezzato - 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
22nd day of August, 2001.
FCC,
Lara Weisiger, Acting City Clerk
City of Alameda