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- 086 <br /> <br />RESOLUTION NO. <br />Page two <br /> <br />86- ]6 <br /> <br /> 1. Purchase of Annuities; Installment of Sale Agreement. <br />The City Council hereby approves the purchase of the Annuities <br />from the Corporation pursuant to the Installment Sale-Agreement <br />in substantially the form on file with the Clerk of the Council <br />together with any changes therein or additions thereto deemed <br />advisable by the City Manager. The City Manager and the Clerk <br />of the Council are hereby authorized and directed for and in <br />the name and on behalf of the City to execute, attest and <br />affix the seal of the City to said form of Installment Sale <br />Agreement. <br /> <br /> 2. Trust Agreement. The City Council hereby approves <br />the Trust Agreement in substantially the form on file with <br />the Clerk of the Council together with any changes therein <br />or additions thereto deemed advisable by the City Manager. <br />The City Manager and the Clerk of the Council are hereby <br />authorized and directed for and in the name and on behalf <br />of the City to execute, attest and affix the seal of the <br />City to said form of Trust Agreement. <br /> <br /> 3. Official Actions. The Mayor, the City Manager, the <br />Director of Finance, the City Attorney, the Clerk of the Council <br />and any and all other officers of the City are each authorized <br />and directed in the name and on behalf of the City to make <br />any and all assignments, certificates, requisitions, agreements, <br />notices, consents, instruments of conveyance, warrants and <br />other documents, which they or any of them might deem necessary <br />or appropriate in order to consummate any of~the transactions <br />contemplated by the agreements and documents approved pursuant <br />to this Resolution. <br /> <br /> 4. Validation Action. The City Council hereby authorizes <br />and directs Jones, Hall, Hill & White, A Professional Law <br />Corporation, to file and prosecute to completion proceedings <br />to determine the validity of the City's obligations under the <br />Installment Sale Agreement and the Trust Agreement pursuant to <br />Chapter 9 (commencing with Section 860) of Title 10 of Part 2 <br />of the Code of Civil Procedure. <br /> <br /> <br />