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December 13, 1985 WHEREAS, the issuance, sale and delivery of the Bonds will further the public purposes of the City as set forth in the Law, and approval of said agreements and related documents will be in the public interest and for the public benefit; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. Acts and Conditions Precedent. The City Council has reviewed all proceedings heretofore taken and has found, as a result of such review, and hereby finds and determines, that all things, conditions and acts required by law to exist, happen or be performed precedent to and in connection with the issuance of the Bonds do exist, have happened and have been performed in due time, form and manner as required by law, and this Council is now duly empowered, pursuant to each and every requirement of law, to issue the Bonds in the manner and form provided herein, in the Law, and in the Indenture of Trust (the "Indenture"), dated as of December 1, 1985, by and between the City and NCNB National Bank of North Carolina, as trustee (the "Trustee"), all of the terms and provisions of which Law and Indenture are incorporated herein by this reference. Section 2. Authorization. Bonds in the aggregate principal amount of Four Million Five Hundred Thousand Dollars ($4,500,000) are hereby authorized and directed to be issued by the City under and subject to the terms of the Law and this Resolution, as supplemented and amended by any supplemental resolution hereafter adopted for such purpose. The purpose for which the Bonds shall be issued is to provide funds to make a loan to the Company to provide financing for the acquisition, construction and improvement of the Project pursuant to a Loan Agreement, dated as of December 1, 1985, to be entered into between the City and the Company (the "Loan Agreement"). The Bonds shall be designated as provided in the Indenture. Section 3. Execution of Bonds. The Bonds shall be executed on behalf of the City as provided in the Indenture. Section 4. Appointment of Trustee. The City hereby appoints NCNB National Bank of North Carolina, having its principal corporate trust office in Charlotte, North Carolina, as Trustee for the purposes set forth in the Indenture. Section 5. Execution of Documents. The following documents (each in the form submitted to this City or in such form, together with such changes therein as may be deemed necessary or advisable and not adverse to the City, as shall be approved by the Mayor or City Manager of the City, or designated representative, upon the advice of Bond Counsel to the City, such approval to be conclusively evidenced by the execution thereof as authorized herein) be and they are hereby approved, that the Mayor, City Manager, or designee, be and is hereby authorized to execute and deliver each such document, and the City Clerk of the City is hereby authorized to affix the seal of the City to each such document, as may be required thereby, and to attest the execution thereof: -2-