pages: OaklandRedevelopmentSuccessorAgencyAndCityCouncilAndJointPowersFinancingAuthority/2013-05-07.pdf, 29
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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 25 Subject: Lease Financing Of The LED Streetlight Project From: Office Of The City Administrator Recommendation: Adopt The Following Pieces Of Legislation: 1) An Oakland City Council Resolution Authorizing Lease Financing Of The LED Streetlight Project Authorized By Resolution No. 84186 C.M.S. With A Financial Institution Selected By Competitive Process, In An Amount Not To Exceed $16,500,000 Through: (1) Execution And Delivery Of City Of Oakland 2013 Certificates Of Participation (LED Streetlight Acquisition), Comprised Of Series A (Federally Taxable Qualified Energy Conservation Bonds - Direct Payment) And Series B (Tax Exempt); Or (2) Execution Of Lease/Purchase Agreements And Related Agreements And Documents; And (3) Authorizing The City Administrator To Enter Such Lease Financing Arrangements In Substantially The Form Of The Agreements And Documents On File With The City Clerk Relating To The Selected Lease Financing Arrangement, Which Documents May Include One Of More Of The Following: A Trust Agreement, A Lease, Sublease, A Lease/Purchase Agreement, A Paying Agent Agreement And Ancillary Security Documents; (4) Confirming The Selection Of Special Counsel And Financial Advisor; (5) Authorizing Payment Of Related Costs; (6) Declaring Intention To Reimburse Expenditures; (7) Authorizing Modification To Agreements And Documents; And (8) Ratifying Prior Actions And Authorizing The City Administrator To Take Necessary Actions In Connection Therewith 12-0449 A motion was made by Councilmember Gallo, seconded by Councilmember Kaplan, 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 84351 CMS.pdf (2) An Oakland Joint Powers Authority Resolution Approving The Form And Authorizing Execution Of Certain Lease Financing Documents In Connection With Execution, Sale And Delivery Of Certificates Of Participation Relating To The City Of Oakland Streetlight Project And Authorizing And Directing Certain Actions With Respect Thereto. 12-0449-1 A motion was made by Councilmember Gallo, seconded by Councilmember Kaplan, 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 2013-002 JPFA.pdf City of Oakland Page 29 Printed on 5/22/13 | 29 | OaklandRedevelopmentSuccessorAgencyAndCityCouncilAndJointPowersFinancingAuthority/2013-05-07.pdf |