CAFA Resolution 14-04E
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CITY OF ALAMEDA FINANCING AUTHORITY RESOLUTION NO. 14 -04
AUTHORIZING THE COMMENCEMENT OF PROCEEDINGS IN
CONNECTION WITH THE EXTERNAL LEASE FINANCING OF A NEW FIRE
STATION NO. 3 AND AUTHORIZING THE EXECUTIVE DIRECTOR TO
NEGOTIATE, EXECUTE AND DELIVER ALL APPROPRIATE FINANCING
DOCUMENTS WITHIN SPECIFIED PARAMETERS
_7 RESOLVED, by the Board of Directors (the "Board ") of the City of Alameda
Financing Authority (the "Authority "), as follows:
WHEREAS, the City of Alameda (the "City ") has determined to finance the
construction of a new Fire Station No. 3 on a City -owned site located at the corner of
Hibbard Street and Buena Vista Avenue (the "Project ") by a combination of one -time
available funds, an internal loan and an external lease- leaseback financing; and
WHEREAS, to the extent that the participation of the Authority in such external
lease financing is required, it is desirable for the Board to authorize the Executive
Director to negotiate the necessary documents for the external lease financing
component of the Project on behalf of the Authority and to complete such external lease
financing within specified parameters;
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
Section 1. The Board hereby delegates to the Executive Director the authority to
identify the appropriate financing vehicle for such external lease financing, including
financing through the California Infrastructure and Economic Development Bank or a
direct placement with an institutional investor.
Section 2. The Board hereby delegates to the Executive Director the authority to
negotiate the terms and the required documents for such external lease financing and to
execute and deliver the final forms thereof, so long as the total amount of such external
lease financing does not exceed $3,000,000, the term thereof does not exceed 20 years
and the interest rate payable in connection therewith does not exceed 5.5% per annum.
Section 3. The Chair, the Vice Chair, the Executive Director, the Treasurer
Director, the Secretary and other appropriate officers and officials of the Authority are
hereby authorized and directed to take such action and to execute such documents as
may be necessary or desirable to effectuate the intent of this resolution.
Section 4. 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 Board of Directors of the City of Alameda
Financing Authority in a special joint meeting assembled on the 29th day of July, 2014,
by the following vote to wit:
AYES: Councilmembers Chen, Daysog, Ezzy Ashcraft, Tam and
Mayor Gilmore — 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
said City this 30th day of July, 2014.
Lara Weisiger, Se retary
City of Alameda Se
Authority