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13128-01 JHHW:BDQ:Ma
<br /> 03/06/96
<br /> 04/29/96
<br /> 06/03/96
<br /> COUNTYWIDE PUBLIC FINANCING AUTHORITY
<br /> RESOLUTION NO.96-3
<br /> RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF REVENUE
<br /> BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF
<br /> $31,000,000 FOR THE PURPOSE OF PROVIDING A PORTION OF THE
<br /> ORANGE COUNTY COUNTYWIDE 800 MHZ COMMUNICATIONS
<br /> SYSTEM AND TO FINANCE OTHER CAPITAL IMPROVEMENTS,AND
<br /> APPROVING RELATED DOCUMENTS AND OFFICIAL ACTIONS
<br /> RESOLVED, by the Board of Directors (the "Board") of the Countywide Public
<br /> Financing Authority (the "Authority"), as follows:
<br /> WHEREAS, the Authority is a joint exercise of powers authority duly organized and
<br /> existing under and pursuant to that certain Joint Exercise of Powers Agreement, dated June 19,
<br /> 1996, by and among the Cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa
<br /> Ana,Seal Beach, Stanton and Tustin (collectively, the "Members"), and under the provisions of
<br /> Articles 1 through 4 (commencing with section 6500) of Chapter 5 of Division 7 of Title 1 of the
<br /> California Government Code (the "Act"), and is authorized pursuant to Article 4 (commencing
<br /> with section 6584) of the Act (the "Bond Law") to borrow money for the purpose of financing
<br /> the acquisition of bonds,notes and other obligations of, or for the purpose of making loans to,
<br /> public entities,including the Members,and to provide financing for public capital improvements
<br /> of public entities,including the Members; and
<br /> WHEREAS, the Members each wish to finance their proportionate share of the Orange
<br /> County Countywide 800 MHz communications system and certain Members wish to finance
<br /> other capital improvements within the geographic boundaries of such Members (collectively, the
<br /> "Project");
<br /> WHEREAS, for the purpose of providing financing for the Project, the Authority has
<br /> determined to issue its Countywide Public Financing Authority (Orange County, California)
<br /> 1996 Revenue Bonds, in the aggregate principal amount of $31,000,000 (the "Bonds"), all
<br /> pursuant to and secured by the Indenture (hereinafter defined); and
<br /> WHEREAS, in order to provide for the repayment of the Bonds, each Member has
<br /> agreed to lease certain real property and improvements (the "Leased Premises") to the
<br /> Authority and to lease-back such real property and improvements from the Authority pursuant
<br /> to separate lease agreements,by and between the Authority, as lessor, and each such Member,
<br /> as lessee, under which such Members, in the aggregate, have agreed to make certain lease
<br /> payments to the Authority which have been calculated to be sufficient to enable the Authority
<br /> to pay the principal of and interest and premium (if any) on the Bonds when due and payable;
<br /> and
<br /> WHEREAS, the Bonds will be issued under the Bond Law, and an Indenture of Trust
<br /> (the "Indenture"), by and between the Authority and U.S. Trust Company of California, N.A.,
<br /> as trustee (the "Trustee"); and
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