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TOWN OF TRUCKEE <br /> California <br /> RESOLUTION 2017-48 <br /> A RESOLUTION APPROVING THE ISSUANCE BY THE TRUCKEE PUBLIC <br /> FINANCING AUTHORITY OF NOT TO EXCEED $5,000,000 AGGREGATE <br /> PRINCIPAL AMOUNT OF LEASE REVENUE REFUNDING BONDS SERIES <br /> 2017 IN ONE OR MORE SERIES AUTHORIZING THE FORMS OF AND <br /> DIRECTING THE EXECUTION AND DELIVERY OF A SUPPLEMENTAL TRUST <br /> AGREEMENT, AN AMENDED AND RESTATED SITE LEASE, AN AMENDED <br /> AND RESTATED FACILITY LEASE, A BOND PURCHASE CONTRACT AND A <br /> CONTINUING DISCLOSURE AGREEMENT; APPROVING FORM OF AND <br /> DISTRIBUTION OF AN OFFICIAL STATEMENT; AND AUTHORIZING TAKING <br /> OF NECESSARY ACTIONS AND EXECUTION OF NECESSARY <br /> CERTIFICATES IN CONNECTION THEREWITH <br /> WHEREAS, the Town of Truckee (the "Town") and the Truckee Redevelopment Agency, <br /> now succeeded by the Successor Agency to the Truckee Redevelopment Agency (the "Agency") <br /> have heretofore entered into a Joint Exercise of Powers Agreement, dated as of March 23, 2000 <br /> (the "Joint Powers Agreement"), which Joint Powers Agreement creates and establishes the <br /> Truckee Public Financing Authority (the"Authority"); and <br /> WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government <br /> Code of the State of California (the "Marks-Roos Local Bond Pooling Act of 1985") and the Joint <br /> Powers Agreement, the Authority is authorized to issue bonds for financing or refinancing public <br /> capital improvements whenever there are significant public benefits; and <br /> WHEREAS, the Authority previously issued $1,645,000 of its Truckee Public Financing <br /> Authority Lease Revenue Bonds (Public Service Facility Project) Series 2009A (Tax-Exempt) <br /> (Bank Qualified) (the "2009A Bonds") and $3,355,000 of its Truckee Public Financing Authority <br /> Lease Revenue Bonds (Public Service Facility Project) Series 2009B (Taxable) (the "20098 <br /> Bonds") to finance the acquisition, renovation and improvement of the buildings and the land (the <br /> "Project" and, together with underlying real property, the "Leased Property") with a portion of said <br /> Project to be used as a new corporation yard of the Town, resulting in significant public benefits; <br /> and <br /> WHEREAS, this Town Council has heretofore determined that it would be in the best <br /> interest of the Town to proceed with a lease revenue financing for the purpose of advance <br /> refunding a portion of the outstanding 2009A Bonds and all of the outstanding 2009B Bonds to <br /> obtain interest rate savings; and <br /> WHEREAS, the Town will enter into an "Amended and Restated Site Lease" with the <br /> Authority for the lease of the Leased Property to the Authority; and <br /> WHEREAS, the Authority, as lessor, will lease back the Leased Property to the Town, as <br /> lessee, pursuant to an "Amended and Restated Facility Lease;" and <br /> WHEREAS, under the Amended and Restated Facility Lease, the Town would be <br /> obligated to make rental payments to the Authority; and <br />