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ARTICLE I
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<br />AUTHORIZATION OF NO~E; DEF)NIT)ONS
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<br /> Section 1.O1. Authorization. The City Council has reviewed all
<br />procee~lngs heretofore taken and has found, as a result of such review, and
<br />hereby finds and determines, that all things, conditions and acts required by
<br />law to exist, happen or be performed precedent to and in connection with the
<br />issuance of the Note do exist, have happened and have been performed in due
<br />time, for~ and manner as required by law, and the City is now duly empowered,
<br />pursuant to each and every requirement of lew, to issue the Note in the manner
<br />and form provided in this Resolution.
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<br /> Section 1.O2 . Definitions . Unless the context otherwise rec~ires,
<br />the terms defined in subsections (a} throuqh (y), inclusive, of this Section
<br />1.02 shall, for all purposes of this Resolution, of any resolution
<br />supplemental hereto, and of any certificate, opinion or other doc~nent herein
<br />mentioned, have the meanings herein specified.
<br />
<br /> (a) Agreement . "Agreement" means that certain agreement,
<br />entitled "Loan and Security Agreement", dated as of December 1, 1982, by and
<br />mmong the City, the Bank and the Participating Party.
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<br /> (b) Bank . "Bank" means Provident National Bank, the purchaser of
<br />the Note.
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<br /> (c) Certificate of the City , Written Request of the
<br />City . "Certificate of the C'~y" and "Written )~equest of the City" mean,
<br />respectively, a written certificate or request signed in the name of the City
<br />by the City Manager or the City Clerk or such other person as may be
<br />designated and authorized to sign for the City, with the seal of the City
<br />affixed. Any such instrument and supporting opinions or representations, if
<br />any, may, but need not, be combined in a single instrument with any other
<br />instrument, opinion or representation, and the two or more combined shall be
<br />read and construed as a single instrument.
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<br /> {d) City . 'City" means.the City of Santa Aha, a chartered city
<br />of the State of California duly organized and existing under and bv virtue of
<br />the constitution of said state.
<br />
<br />{e) ~ity Council . "City Council" means the City Council of the
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<br />City.
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<br /> (f) Costs of the Project . 'Costs of the Project" has the meaning
<br />given such term in Section 5.02 of the Agreement.
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<br /> (g) ~. "Facility" means the industrial facilities owned
<br />by the Participating Party located at 2701 South H~bor Boulevard in the City.
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<br /> (h) Federal Securities . "Federal Securities" means United States
<br />Treasury notes, bonds, bills or certificates of indebtedness or those for
<br />which the faith and credit of the United States are pledged for the payment of
<br />principal and interest; obligations issued by banks for cooperatives, federal
<br />land banks, federal intermediate credit banks, federal home loan banks, the
<br />Federal Home Loan Bank Board, the Tennessee Valley Authority, or obliQations,
<br />participations, or other instruments of or issued by, or. fully guaranteed as
<br />to principal and interest by, the Federal National Mortgaoe Association; or
<br />participation certificates evidencing beneficial interests in obligations, o~
<br />in the right to receive interest and principal collections therefrom, which
<br />obligations have been subjected by one or more government aoencies to a trust
<br />or trusts for which any executive deparb~ent, agency or instromentalitv of the
<br />United States (or the head thereof) has been named to act as trustee, all as
<br />to and the extent that such securities are eligible for the leoat investment
<br />of City funds.
<br />
<br /> (i) Financial Newspaper . "Financial newspaper" means The Wall
<br />Street Journal Or The D~ily Bond Bu),er or any other newspaper printed in the
<br />English language, customarily published on each business day, publishino
<br />financial news, circulated in New York, New York, and the same or simila~
<br />newspaper or journal circulated in Los Angeles, California, and selected by
<br />the Bank, whose decision shall be final and conclusive.
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