CIC Resolution 99-80COMMUNITY IMPROVEMENT COMMISSION
RESOLUTION NO. 9 9 -8
APPROVING AMENDMENT TO AGREEMENT WITH THE ALAMEDA
PUBLIC FINANCING AUTHORITY AND THE CITY OF ALAMEDA IN
CONNECTION WITH REFINANCING OF OUTSTANDING REVENUE
BONDS RELATING TO MARINA VILLAGE ASSESSMENT DISTRICT
NOS. 84 -3 AND 89 -1
WHEREAS, the Alameda Public Financing Authority (the "Authority") has previously
issued its Alameda Public Financing Authority 1997 Revenue Bonds (Marina Village
Assessment District Bond Refinancing) in the aggregate principal amount of $37,850,000 (the
"1997 Bonds ") for the purpose of acquiring three issues of the bonds (collectively, the
"Assessment Bonds ") issued by the City of Alameda (the "City"), consisting of (a) the City of
Alameda Improvement Bonds, Marina Village Assessment District No. 84 -3, Series 86 -1
(Reassessment and Refunding for 1986), (b) the City of Alameda Improvement Bonds, Marina
Village Assessment District No. 84 -3, Series 86 -2, and (c) the City of Alameda Limited
Obligation Improvement Bonds, City of Alameda, Marina Village Assessment District '89-1,
Series 89 -1; and
WHEREAS, in order to provide for the refunding of the Assessment Bonds, the City of
Alameda Community Improvement Commission (the "Commission "), the City and the
Authority have previously entered into an Agreement Relating to Assessment Bond Refunding
dated as of April 1, 1997 (the "Refunding Agreement"), under which the Authority has
purchased the Assessment Bonds from the proceeds of the 1997 Bonds and the savings from
such refunding have been remitted to the Commission to be applied for purposes relating to
Assessment District No. 84 -3 and Assessment District No. 89 -1; and
WHEREAS, in order to realize additional interest rate savings at this time, the Authority
has determined to issue its Alameda Public Financing Authority 1999 Revenue Bonds (1997
Revenue Bond Refinancing) in the aggregate principal amount of not to exceed $39,000,000 (the
"Bonds ") for the purpose of providing funds to refinance the 1997 Bonds; and
WHEREAS, in order to accommodate such refinancing the Commission, the City and the
Authority have proposed to amend and restate the Refunding Agreement in full pursuant to an
Amended and Restated Agreement Relating to Assessment Bond Refunding dated as of January
1, 1999 (the "Amended Refunding Agreement "); and
WHEREAS, the Commission wishes at this time to approve the issuance and sale of the
Bonds and the refunding of the 1997 Bonds, and the execution and delivery of the Amended
Refunding Agreement;
NOW, THEREFORE, BE IT RESOLVED by the City of Alameda Community
Improvement Commission as follows:
Section 1. Approval of Financing Agreement. The Commission hereby approves the
Amended Refunding Agreement in substantially the form thereof on file with the Secretary
together with any changes therein or additions thereto deemed advisable by the Treasurer, and
the execution thereof by the Executive Director or the Treasurer (each, an "Authorized Officer")
shall be conclusive evidence of such approval. The Commission hereby authorizes and directs
an Authorized Officer to execute, and the Secretary to attest and affix the seal of the
Commission to, the final form of the Amended Refunding Agreement. The Commission hereby
authorizes the delivery and perfointance of the Amended Refunding Agreement.
Section 2. Official Actions. The Chairman, the Executive Director, the Treasurer, the
Secretary and all other appropriate officials of the Commission are hereby authorized and
directed to execute such other agreements, documents and certificates as may be necessary to
effect the purposes of this resolution and the financing herein authorized. Whenever in this
resolution any officer of the Commission is authorized to execute or countersign any document
or take any action, such execution, countersigning or action may be taken on behalf of such
officer by any person designated by such officer to act on his or her behalf in the case such
officer shall be absent or unavailable.
Section 3. Effective Date. This Resolution shall take effect from and after the date of its
passage and adoption.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by the Community Improvement Commission of the City of Alameda in special
meeting assembled on the 5th day of January , 1999, by the following vote to wit:
AYES: Commissioners Daysog, DeWitt, Johnson, and
Chair Appezzato - 4.
NOES: None.
ABSENT: Commissioner Kerr - 1..
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said
Commission this 6th day of January , 1999.
Community Improvement Commission
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Diane Felsch, Secretary
Community Improvement Commission