2003-033 - Certificates of Participation in the Maximum Principal Amount of $20,000,000

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Section 3. Sale of Refunding Certificates. The City Council hereby approves the sale of the Refunding Certificates under and in accordance with the provisions of the Purchase Contract. Section 4. Official Statement. The City Council hereby approves and deems nearly final within the meaning of Rule 15c2-12 of the Securities Exchange Act of 1934, the preliminary Official Statement describing the Refunding Certificates in the form on file with the Clerk of the Council. The Designated Officers are hereby individually authorized, at the request of the purchaser of the Refunding Certificates, to execute an appropriate certificate affirming the City Council's determination that the preliminary Official Statement has been deemed nearly final within the meaning of such Rule. Distribution of the preliminary Official Statement by thi~ purchaser of the Refunding Certificates is hereby approved. The Designated Officers are hereby individually authorized and directed to approve any changes in or additions to a final form of said Official Statement, and the execution thereof by a Designated Officer shall be conclusive evidence of approval of any such changes and additions. The City Council hereby authorizes the distribution of the final Official Statement by the purchaser of the Refunding Certificates. The final Official Statement shall be executed in the name and on behalf of the City by a Designated Officer. Section 5. Official Actions. The Designated Officers, the Clerk of the Council and all other officers of the City are each authorized and directed in the name and on behalf of the City to take such actions, including, but not limited to, the entering into agreements with a bond insurance provider to provide bond insurance with respect to the Certificates and the selection of assets to be included under the Lease Agreement, and t o make a ny a nd a II assignments, certificates, requisitions, agreements, notices, consents, leases and other instruments of conveyance, warrants and other documents, including, but not limited to, irrevocable refunding instructions which implement the refinancing plan approved by this Resolution, which they or any of them might deem necessary or appropriate in order to consummate any of the transactions contemplated by the agreements and documents approved under this Resolution. Whenever in this resolution any officer of the City is authorized to execute or countersign any document or take any action, such execution, countersigning or action may be taken on behalf of such officer by any person designated by such officer to act on his or her behalf in the case such officer is absent or unavailable. Section 6. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption. ADOPTED this 17th day of March, 2003. Mi~r~. Palliao ' ' Resolution No. 2003-033 Page 3 of 4