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Jo all things and execute all instruments and documents <br />required to be done or executed by such absent or disabled <br />)fficers. Shearson Lehman/American Express Inc. as the initial <br />)urchaser of the Bonds pursuant to the Bond Purchase Agreement <br />the "Underwriter") is hereby approved, and the Bonds may be <br />~urchased at a discount not to exceed 3.5~ of the principal <br />~mount thereof. The Underwriter is hereby authorized to print <br />~nd distribute the Preliminary Official Statement to <br />)rospective purchasers of the Bonds and to prepare, print and <br />distribute a final Official Statement based on the Preliminary <br />)fficial Statement. <br /> <br /> 3.06. Allocation of Portion of Private Activity Bond <br /> <br />Limit. In accordance with Section 103(n) of the Code and a <br />)roclamation issued by the Govenor of the State of California <br />dated July 19, 1984, the City Council of the City hereby <br />designates a portion of the City's allocation of the Private <br />Activity Bond Limit (as defined in said proclamation) to the <br />issuance of the City Bonds. <br /> <br /> 3.07. Effective Date. This Resolution of Issuance <br /> <br />shall take effect upon adoption. <br /> <br />11-07-84 <br />1666p/2105/02 -9- <br /> <br /> <br />