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Resolution No. SAEC 1999-01 A RESOLUTION TO COMPLETE THE ORGANIZATION OF THE SANTA ANA EMPOWERMENT CORPORATION THE BOARD OF DIRECTORS OF THE SANTA ANA EMPOWERMENT CORPORATION HEREBY RESOLVES, DETERMINES, AND DECLARES AS FOLLOWS: WHEREAS, the Secretary of State has filed articles of incorporation for the Santa Ana Empowerment Corporation ("SAEC" or "the Corporation"); and WHEREAS, these articles of incorporation and the bylaws to be considered during this initial meeting establish many items regarding the organization of SAEC; and WHEREAS, a resolution of the Board of Directors is appropriate to complete the organization of SAEC; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SANTA ANA EMPOWERMENT CORPORATION: 1. This resolution shall constitute proof that this initial meeting of the board of directors is held pursuant to a written waiver of notice and consent to the holding of the meeting. 2. The Corporation's original articles of incorporation were filed with the California Secretary of State on August 16, 1999, and the articles designate the Corporation's Secretary, Janice C. Guy, as initial agent for service of process. The Board acknowledges that it has been presented with a certified copy of the articles of incorporation, showing the filing stamp as stated. The Secretary is directed to insert the copy in the minutes book used for the transaction of the Corporation's business. 3. The Corporation adopts an accounting year ending on the last day of June of each year. 4. The accounting basis for the Corporation shall be the "modified accrual basis" or as other~vise required by the "Government Accounting Practices" manual as it may be amended from time to time. 5. The Executive Director shall consult with General Counsel to ascertain the ~¥~ilability of exemptions from taxation under state and federal tax laws and, if such exemptions are available, the Executive Director is authorized and directed to execute