pages: OaklandRedevelopmentSuccessorAgencyAndCityCouncilAndJointPowersFinancingAuthority/2013-05-07.pdf, 25
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OaklandRedevelopmentSuccessorAgencyAndCityCouncilAndJointPowersFinancingAuthority | 2013-05-07 | Concurrent Meeting of the Oakland Meeting Minutes May 7, 2013 Redevelopment Successor Agency/City Council/Joint Powers Financing Authority 18 Subject: Replacement Of Cash Reserve With An Insurance Policy From: Office Of The City Administrator Recommendation: Adopt The Following Pieces Of Legislation: 1) An Oakland City Council Resolution Authorizing The Use Of An Insurance Policy To Be Provided By Assured Guaranty Municipal Corp. ("Assured") To Replace The Cash In The Reserve Fund Securing The Oakland Joint Powers Financing Authority's Lease Revenue Refunding Bonds (Oakland Administration Buildings) 2008 Series B (The "Bonds"), Authorizing The Amendment Of The Rating Requirement In Such Trust Agreement Applicable To The Provider Of Such An Insurance Policy With Respect To Assured, And Authorizing The Reimbursement Of Assured From Base Rental Payments Made By The City Of Oakland Pursuant To The Sublease Relating To The Bonds; And 12-0441 A motion was made by Councilmember Kaplan, seconded by Councilmember Schaaf, that this matter be Adopted. The motion carried by the following vote: Votes: ORAICouncilmember Absent: 1 - Councilmember Brooks ORAICouncilmember Ayes: 7 - Councilmember Gallo, Councilmember Gibson McElhaney, Councilmember Kalb, Councilmember Kaplan, Council President Kernighan, Vice Mayor Reid and Councilmember Schaaf View Report.pdf 84347 CMS.pdf 2) An Oakland Joint Powers Financing Authority Resolution Authorizing The Use Of An Insurance Policy To Be Provided By Assured Guaranty Municipal Corp. ("Assured") To Replace The Cash In The Reserve Fund Securing The Oakland Joint Powers Financing Authority's Lease Revenue Refunding Bonds (Oakland Administration Buildings) 2008 Series B (The "Bonds"), Authorizing The Amendment Of The Rating Requirement In Such Trust Agreement Applicable To The Provider Of Such An Insurance Policy With Respect To Assured, And Authorizing The Reimbursement Of Assured From Base Rental Payments Made By The City Of Oakland Pursuant To The Sublease Relating To The Bonds 12-0441-1 A motion was made by Councilmember Kaplan, seconded by Councilmember Schaaf, that this matter be Adopted. The motion carried by the following vote: Votes: ORAICouncilmember Absent: 1 - Councilmember Brooks ORAICouncilmember Ayes: 7 - Councilmember Gallo, Councilmember Gibson McElhaney, Councilmember Kalb, Councilmember Kaplan, Council President Kernighan, Vice Mayor Reid and Councilmember Schaaf 2013-001 JPFA.pdf City of Oakland Page 25 Printed on 5/22/13 | 25 | OaklandRedevelopmentSuccessorAgencyAndCityCouncilAndJointPowersFinancingAuthority/2013-05-07.pdf |