HomeMy WebLinkAboutRESO 6181.. ' . .. ~KIJ: ld 09/07/83 0622K
RESOLUTION NO. 6181
A RESOLUTION Of THE COUNCIL OF THE CITY OF PALO ALTO
APPROVING ANO AUTHORIZING EXECUTION OF CERTIFICATE PURCHASE AGREEMENT
AND FINAL OFFICIAL STATEMENT
PALO ALTO CIVIC CENTER
RESOLVED. by the Counc11 of the Ctty of Palo Alto. C~11fornta. that
WHEREAS, the Counc11 has heretofore given 1ts approval to and authorized
execution of va.r1ous documents to the end that Ba.nlc. of America National Trust
and Sav1ngs Assoc1at\on (the "Trustee''). could proceed to execute and deltver
to Merr111 Lynch Capital Markets <Merrill Lynch. Pierce. Fenner & Smith
Incorporated> a.nd Security Paciftc Cap1ta t Markets Group <Security Pac1 fl c
Nat1onal Bank> Cthe "Underwriters"> certain cert1ftcates of part1cf patton Cthe
'"Cert1f1cates of Partitipatton"> tn certain lease payments to be ma.de to the
Tr~stee by the Ctty of Palo Alto;
WHEREAS, the Undervriters have prepared and presented to thts the
Counc11 a. form of purchase agreeiaent <the •certtf,ca.te Purchase Agreement">
whereby the Underwriters agree to purchase and the Ct ty. the Corporation and
the Trustee agree to sell to the Underwriters the Certtftcatas of
Part1cJpatton, together with a Final Official Statement to be used by the
Underwriters \n the sale and dtstrtbut\on of the Certificates of Partictpatfon
to t~e Investing publ1c; and
WHEREAS. tt appears that each of satd documents wh1ch are now before
this meet1ng ts fn appropriate 'form and is· an approprtate document or
tnstrument to be executed and delivered for the purposes tntended;
HOW, THEREFORE, IT IS ORDERED as follows:
5ect1on l. ~prova1 of Certificate Purchase Agreement. the Certif1cate
Purchase Agreement 1 s hereby approved and the Mayor ts ilUthor t zed to execute
and the Ctty Clerk f s author12ed to aff1x the off1c1al seal of the Ctty to and
to deliver the Certtf1cate Purchase Agreemerat to the Underwriters.
Section 2. Approval of F1n&1 Official Statement. The F1nal Off1cta1
Statement pertaining to the cffer and sale of the Certificates and its use by
the Underwr1ters in the offer and sale of tne Certiftcates. fs he~eby approved
and the Mayor ts hereby authorized and directed to execute and deliver the
F,nal Off1c1al Statement in substantially the for11 presented to thh meeting
or w1 th such changes as may be approved by the offlcer of the C1 ty executing
the same. with the advice of the City Attorney and Bond Counset. her eiecut1on
thereof to constitute conclusive evidence of the ~pprovai by such off1cer ~nd
• • •
the C1ty of all changes from the form of such Final Official Statement
presented to th\s meeting. which form of Final Off1cial Statement ls hereby 1n
all respects approved and Incorporated by reference and made a part hereof.
Section 3. Author1ty to Consummate Transaction. The Mayor, Vice Mayor.
the City Clerk. the City Attorney, City Manager and their respective
assistants ard other proper of fl cer s of the City are hereby authorized and
directed to execute and deliver any and an papers and instruments and to do
and cause to be done any and a.11 acts and thlngs necessary or proper for
carrytng out th' transaction contemplated by this Resolution.
The foregoing Resolutton was duly and regularly adopted at a regular
meeting of the Counc\1 of the City of Pa1o Alto he~d on the 19th day
of September • 1983. by the fol lowing vote:
AYES: Bechtel, Cobb, Eyerly, Fazzinr ·. ':'letcher, Klein, Levy,, Renzel,
Witherspoon
HOES: None
ABSTENTIONS: None
ABSENT: None
ATTEST: APPROVED:
Assistant City
APPROVED AS TO FORM:
APPROVED:
-2-