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APIC resolution 2000-9
ALAMEDAPUBLICIMPROVEMENTCORPORATION RESOLUTION NO.2QQO-9 APPROVING,AUTHORIZINGANDDIRECTINGTHEEXECUTIONAND DELIVERYOFCERTAININSTALLMENTSALEFINANCING DOCUMENTSWITHALAMEDAPOWER&TELECOM(ASTHEBUREAU OFELECTRICITYACTINGBYANDFORTHECITYOFALAMEDA) WITHRESPECTTOTHEACQUISITION,CONSTRUCTION, EQUIPPINGANDSTARTUPOFATELECOMSYSTEM,THE FINANCINGOFCERTAINELECTRICDISTRIBUTIONSYSTEM ASSETSINCONNECTIONWITHAPARTIALDEFEASANCEOF CERTAINOBLIGATIONSWITHRESPECTTOTHENORTHERN CALIFORNIAPOWERAGENCYANDTHEFINANCINGAND REFINANCINGOFELECTRICDISTRIBUTIONSYSTEM IMPROVEMENTSANDCERTAINOUTSTANDINGINSTALLMENTSALE OBLIGATIQNS,ANDAUTHORIZINGANDDIRECTINGCERTAIN ACTIONSWITHRESPECTTHERETO WHEREAS,AlamedaPower&Telecom(beingtheCityofAlameda, actingbyandthroughitsBureauofElectricity,or"Alameda P&T"),workingtogetherwiththeAlamedaPublicImprovement Corporation("APIC"),isproposingtoproceedwiththefinancing oftheacquisition,construction,equippingandstart-upofa telecomsystem(the"TelecomSystemll)forAlamedaP&T; WHEREAS,AlamedaP&Thasconcludedthatthefinancingofthe TelecomSystemwouldbemostadvantageousifdoneconcurrently withthepartialdefeasanceofcertainelectricsystemstranded costs,intheformofcertainobligationsofAlamedaP&Twith respecttotheNorthernCaliforniaPowerAgency,andwiththe financingofcertainimprovementstoAlamedaP&T'selectric distributionsystemandtherefinancingofcertainoutstanding installmentsaleobligationswithrespecttoAlamedaP&T's transmissionfacilities; WHEREAS,inconnectiontherewithAlamedaP&Tproposesto executeanddelivercertaininstallmentsaleagreementsandto approvethecertificatesofparticipationevidencingthe undividedfractionalinterestsinpaymentstobemadebyAlameda P&Tthereunder(the"CertificatesofParticipationll);and WHEREAS,itisinthepublicinterestandforthepublic benefitthatAPICauthorizesanddirectsexecutionanddelivery oftheinstallmentsaleagreementsandcertainotherfinancing documentsinconnectiontherewith;and WHEREAS,thedocumentsbelowspecified APIC,andtheBoardofDirectorsofAPIC, staff,havereviewedsaiddocuments; havebeenfiledwith withtheaidofits NOW,THEREFORE,BEITRESOLVEDthattheBoardofDirectorsof theAlamedaPublicImprovementCorporationherebyORDERSand DETERMINES,asfollows: SECTION1.Thebelow-enumerateddocumentsbeandarehereby approved,andthePresident,ExecutiveDirectorandTreasurerof APICareherebyseparatelyauthorizedanddirected,subjectto thelimitationshereinaftercontained,toexecuteanddeliver saiddocuments,forandinthenameandonbehalfofAPIC,with suchchanges,insertionsandomissionsasmaybeapprovedby suchofficial,suchapprovaltobeconclusivelyevidencedbythe executionofsuchdocumentsbysuchofficial,andtheanyother officialofAPICisherebyauthorizedanddirectedtoattestto suchofficial'ssignature: (a)aninstallmentsaleagreement,datedasofJanuaryI, 2000,forthesaleandpurchaseoftheTelecomSystem,between APIC,asseller,andAlamedaP&T,aspurchaser(the"Telecom SystemInstallmentSaleAgreement");aninstallmentsale agreement,datedasofJanuaryI,2000,relatingtothesaleand purchaseofcertainelectricitydistributionassetsintheCity ofAlameda(the"DistributionSystem"),betweenAPIC,asseller, andAlamedaP&T,aspurchaser(the"DistributionSystem InstallmentSaleAgreement");andaninstallmentsaleagreement, datedasofJanuaryI,2000,relatingtothesaleandpurchase ofelectricutilityfacilitieswhichwerepreviouslyfinancedby AlamedaP&Tin1992,aswellascertainadditionsand improvementstotheelectricdistributionsystemintheCityof Alameda(the"ElectricSystemImprovements"),betweenAPIC,as seller,andAlamedaP&T,aspurchaser(the"ElectricSystem ImprovementsInstallmentSaleAgreement"),subjectonlytothe followinglimitations: (i)astotheTelecomSystemInstallmentSaleAgreement: (A)thestatedtermthereofshallnotextendbeyond 2015i (B)theaggregateprincipalamountthereofshallnot exceed $20,500,OOOi and (C)anysaleoftheTelecomSystembyAlamedaP&Tshall besubjecttotheprovisionsofthe"put"agreementwith SigcorpCommunicationsServices,Inc.,andthesecurity providedtherefor,suchthatallavailablesaleproceeds shallbeapplied,asapplicable:(1)tothepaymentor prepaymentoftheInstallmentPaymentsundertheTelecom SystemInstallmentSaleAgreement i or(2)tothe reimbursementofanybondinsurer,letterofcredit provider,liquidityproviderorotherthirdpartywho shallhavefundedsuchpaYmentorprepaYmenttoanyowner oftheSeries2000BCertificates(ashereinafterdefined)i (ii)asto Agreement: (A)thestatedtermthereofshallnotextendbeyond 2030i and the DistributionSystem Installment Sale (B)theaggregateprincipalamountthereofshallnot exceed $40,OOO,OOOi and (iii)astotheElectricSystemImprovementsInstallmentSale Agreement: (A)thestatedtermthereofshallnotextendbeyond 2030i and (B)theaggregateprincipalamountthereofshallnot exceed $13,OOO,OOOi (b)atrustagreement,datedasofJanuaryI,2000,byand amongAlamedaP&T,U.S.BankTrustNationalAssociation,as trustee(the"Series2000BTrustee"),andAPIC,relatingtothe executionanddeliveryofTelecomSystemRevenueTaxable CertificatesofParticipation,Series2000B(the"Series2000B Certificates"),evidencingtheundividedfractionalinterestsof theownersthereofininstallmentpaymentstobemadeby AlamedaP&TundertheTelecomSystemInstallmentSaleAgreement; atrustagreement,datedasofJanuaryI,2000,byandamong AlamedaP&T,U.S.BankTrustNationalAssociation,astrustee (the"Series2000ATTrustee")I andAPIC,relatingtothe executionanddeliveryofDistributionSystemRevenueTaxable CertificatesofParticipation,Series2000AT(the"Series2000AT Certificates"),evidencingtheundividedfractionalinterestsof theownersthereofininstallmentpaYmentstobemadeby AlamedaP&TundertheDistributionSystemInstallmentSale Agreement;andatrustagreement{datedasofJanuaryI,2000, byandamongAlamedaP&T{U.S.BankTrustNationalAssociation, astrustee(the"Series2000ATrusteell),andAPIC,relatingto theexecutionanddeliveryofElectricRevenueCertificatesof Participationl Series2000A(the"Series2000ACertificates")I evidencingtheundividedfractionalinterestsoftheowners thereofininstallmentpaymentstobemadebyAlamedaP&Tunder theElectricSystemImprovementsInstallmentSaleAgreement; (c)aconveyanceagreement I datedasofJanuary 11 20001 by andbetweenAlamedaP&TandAPIC(the"TelecomSystem ConveyanceAgreement")I relatingtotheconveyancetoAPICby AlamedaP&ToftheTelecomSystem;aconveyanceagreement I dated asofJanuary 11 20001 byandbetweenAlamedaP&TandAPIC(the "DistributionSystemConveyanceAgreement")I relatingtothe conveyancetoAPICbyAlamedaP&ToftheDistributionSystem; andaconveyanceagreement I datedasofJanuary 11 20001 byand betweenAlamedaP&TandAPIC(the"ElectricImprovements ConveyanceAgreement"),relatingtotheconveyancetoAPICby AlamedaP&ToftheElectricImprovements;and Cd)subjectonlytothelimitationsundersubparagraphs (a)(i),(a)(ii)and(a)(iii)ofthisSection1,anyandall ancillaryagreementsandinstrumentsinconnectionwithand modificationsoftheforegoingdocumentstoprovidefororto facilitateadditionaloralternativeinsurance I credit enhancement,liquidityorotherriskmitigationfeatureswhich secureorprovideforpaymentstotheownersoftheCertificates orfortendersthereof I ortoconformthetermsandprovisions ofapplicabledocumentsamongtwoormoreseriesofthe Cert.Lfi ca t es,ineachcasesuchthatasofthedateoftheir initialdeliveryanyratingapplicabletoanyseriesofthe Certificates(excludingCertificateswhichare"Bank Certificates"withinthetermsoftheforegoingdocuments)shall notbewithdrawnorloweredbelowinvestmentgradelevels. TheauthoritygrantedinthisSection1totheofficersof APICtoexecutetheaboveenumerateddocumentsshallnotbe exercisedunlessanduntilAlamedaP&Tacceptsanunderwriter's offertopurchasetheCertificatesofParticipation. SECTION2.ThePresident,ExecutiveDirector,Treasurerand otherofficialsofAPICareherebyauthorizedanddirectedto executesuchotheragreements,documentsandcertificatesasmay benecessarytoeffectthepurposesofthisresolutionandthe installmentsalefinancinghereinauthorized. SECTION3.Thisresolutionshalltakeeffectuponits adoptionbythisBoard. ****** I,theundersigned,herebycertifythattheforegoingResolutionwasdulyandregularly adoptedandpassedbytheAlamedaPublicImprovementCorporationoftheCityofAlameda intheSpecialJointCityCouncilandPublicImprovementCorporationMeetingassembled onthe18th dayof January,2000,bythefollowingvotetowit AYES:BoardmembersDaysog,DeWittandJohnson-3. NOES:BoardmemberKerrandChairAppezzato-2. ABSENT:None. ABSTENTIONS:None. INWITNESS,WHEREOF,Ihavehereuntosetmyhandandaffixedtheofficialsealofsaid Corporationthis19thdayofJanuary,2000. c:JCw~tL D~e1SCh,Secretary AlamedaPublicImprovementCorporation