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„ RESOLUTION 94-007 <br /> Page 2 <br /> and the City Clerk are hereby authorized and directed, for and in <br /> the name of and on behalf of the City, to execute, acknowledge <br /> and deliver the Ground Lease in substantially the form presented <br /> at this meeting with such changes therein as the officers <br /> executing the same may approve, such approval to be conclusively <br /> evidenced by the execution and delivery thereof . <br /> SECTION 2. Approval of Lease. The form of Lease, <br /> dated as of March 1, 1994, by and between the City and the <br /> Authority (the "Lease") , presented at this meeting is hereby <br /> approved and the Mayor of the City, the City Manager, or the <br /> designee of the Mayor or the City Manager, acting singly, and the <br /> City Clerk are hereby authorized and directed, for and in the <br /> name of and on behalf of the City, to execute, acknowledge and <br /> deliver the Lease in substantially the form presented at this <br /> meeting with such changes therein as the officers executing the <br /> same may approve, such approval to be conclusively evidenced by <br /> the execution and delivery thereof. <br /> SECTION 3 . Approval of Purchase Contract. The form of <br /> Purchase Contract by and between the Authority, the City and the <br /> Underwriter (the "Purchase Contract") , presented at this meeting <br /> is hereby approved and the Mayor of the City, the City Manager, <br /> or the designee of the Mayor or the City Manager, acting singly, <br /> and the City Clerk are hereby authorized and directed, for and in <br /> the name of and on behalf of the City, to execute, acknowledge <br /> and deliver the Purchase Contract in substantially the form <br /> presented at this meeting with such changes therein as the <br /> officers executing the same may approve, such approval to be <br /> conclusively evidenced by the execution and delivery thereof. <br /> SECTION 4. Terms of the City's Obligation. The City <br /> Manager or his designee is authorized to negotiate the rental <br /> payment provisions of the Lease, provided, however, that the <br /> aggregate principal components of the rental payments to be paid <br /> by the City pursuant to the Lease shall not exceed $110 , 000 , 000, <br /> and provided, further that the interest components of the rental <br /> payments to be paid by the City pursuant to the Lease shall not <br /> reflect rates of interest in excess of 6 .75% per annum. <br /> SECTION 5. Other Acts. The officers and staff of the <br /> City are hereby authorized and directed, jointly and severally, <br /> to do any and all things, to execute and deliver any and all <br /> documents, which in consultation with the City Attorney or with <br /> Orrick, Herrington & Sutcliffe, the City's bond counsel, they may <br /> deem necessary or advisable in order to consummate the execution <br /> and delivery of the Purchase Contract, the Ground Lease, the <br /> Lease Agreement or otherwise effectuate the purposes of this <br /> Resolution, and any and all such actions previously taken by such <br /> officers or staff members are hereby ratified and confirmed. The <br /> officers and the staff of the City are specifically authorized to <br /> assist in the preparation of the preliminary and final official <br /> statements used in connection with the sale of the Bonds and to <br /> execute the same or portions thereof if required by the Underwriter. <br /> U I-633 73.1 2 40990.9-W WB-02/03794 <br />