CC Resolution No. 6855 13031-5 ~ JHNW:BDQ:rms 04/18/86 • Z1957
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• CITY OF CUPERTINO
RESOLUTION N0. y~5
A RESOLUTION APPROVING. AUTHORIZING AND
DIRECTING EXECUTION OF A PURCHASE AGREEMENT,
APPROVING A PRELIMINARY OFFICIAL STATEMENT AND AUTHORIZING
AND DIRECTING CERTAIN ACTIONS NITH RESPECT THERETO
RESOLVED, by the City Council of the City of Cupertino (the "City"):
NHEREAS, the City, working together with the Cupertino Public
Facilities Corporation (the "Corporation"), is proposing to proceed with a
lease financing; and
WHEREAS, in connection therewith, the City has heretofore authorized
the execution of a lease agreement (the "Lease Agreement") and certain other
financing documents in connection therewith; and
WHEREAS, pursuant to the City's authorization, Rauscher Pierce
Refsnes, Inc. (the "Underwriter") proposes to underwrite the financing and
has prepared and presented to the City a form of preliminary official
statement containing information material to the offering and sale of
certificates of participation (the "Certificates of Participation")
representing proportionate interests of the owners thereof in lease payments
to be made by the City under the Lease Agreement (the "Preliminary Official
Statement"); and
WHEREAS, the documents below specified have been filed with the City
and the members of the City Council, with the aid of its staff, have
reviewed said documents;
NOW, THEREFORE, it is hereby ORDERED and DETERMINEO, as follows:
SECTION 1. A purchase agreement by and among the Underwriter, the
City and the Corporation relating to the purchase by the Underwriter of the
Certificates of Participation. be and is hereby approved, and the Mayor,
City Manager or Oirector of Finance is hereby authorized and directed to
execute said agreement. with such changes, insertions and omissions as may
be approved by such officiai~ so long as the interest rate with respect to
the Certificates of Participation will not produce annual lease payments
payable under the Lease Agreement in any twelve-month period in excess of
; 1,400,000 , so long as the principal amount of the Certificates of
Part cipat on will not exceed E 13,000,0~o ~ and so long as the
Underwriter's discount with respect to the Certificates does not exceed
_~x.
SECTION 2. To the best of the City's knowledge, information and
belief, the Preliminary Official Statement contains no untrue statement of a
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material fact with respect to the City or omits to state a material fact
with respect to the City required to be stated where necessary to make any 4~
statement made therein not misleading in the light of the circumstances •
under which it was made.
SECTION 3. The Preliminary Official Statement is approved for
distribution in connection with the offering and sale of the Certificates of
Participation.
SECTION 4. The Mayor~ City Manager or Director of Finance is
authorized to approve corrections and additions to the Preliminary Official
Statement by supplement or amendment thereto, or otherwise as appropriate~
provided that any such corrections or additions shall he necessary to cause
the information contained therein to conform with facts material to the
Certificates of Participation~ or to the proceedings of the City or such
corrections or additions are in form rather than in substance.
SECTION 5. The Mayor, City Manager or Director of Finance is
authorized and directed to cause the Preliminary Official Statement to be
brought into the form of a final officiat statement (the "final Official
Statement") and to execute said Final Official Statement, dated as of the
date of the sale of the Certificates of Participation, and a statement that
the facts contained in the Final Official Statement~ and any suppiement or
amendment thereto (which shall be deemed an original part thereof for the
purpose of such statement) were, at the time of sale of the Certificates of
Participation, true and correct in all material respects and that the Final
Official Statement did not, on the date of sale of the Certificates of
Participation~ and does not, as of the date of delivery of the Certificates
of Participation. contain any untrue statement of a material fact with
respect to the City or omit to state material facts with respect to the City
required to be stated where necessary to make any statement made therein not
misleading in the light of the circumstances under which it was made. The
Mayor. City Manager or Director of Finance shall take such further actions
prior to the signing of the final Official Statement as are deemed necessary
or appropriate to verify the accuracy thereof.
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PASSED AND ADOPTED at a regular meeting of the City council of the
; City of Cupertino this 2nd day of June , 1986 by
f the folloving vote:
' Vote MEMBERS OF THE City Council
i AYESs Gatto, Johnaon, Plungy, Sparks, Rogers
~ NOES: None
I ABSENT: None
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. ABSTAIN~ None
APPROVED~
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Mayor, City of Cupert'ino
ATTESTi (
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City Clerk
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