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s0 .u oH Ho. 8?-88 <br />4!$PA E <br /> <br /> WHEREAS, the Corporation and the County have determined <br />that it would be in the best interests of the Corporation, the County <br />and the citizens of the community to authorize, pursuant to the Trust <br />Agreement, dated as of December 1, 1987, by and among the <br />Corporation, Bank of America National Trust and Savings Association <br />(the "Trustee") and the County (the "Trust Agreement"), the prepara- <br />tion, execution, sale and delivery of Certificates of Participation <br />in an aggregate amount not to exceed $35,000,000 (the "Series 1987 <br />Certificates"), which Series 1987 Certificates represent direct and <br />proportionate interests in the Principal Components and Interest <br />Components of the Lease Payments; and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA AS FOLLOWS: <br /> <br /> 1. The City Site Lease presented at this meeting is <br />approved. The Mayor or his designee is authorized and directed for <br />and in the name of the City to execute said agreement. The Mayor or <br />his designee is hereby authorized and directed to execute, acknowl- <br />edge and deliver any and all documents and do any and all things <br />which they may deem necessary or advisable to consummate the transac- <br />tions contemplated by the City Site Lease and this Resolution. The <br />agreement shall be executed in substantially the form hereby <br />approved, with such additions thereto and changes therein as are con- <br />sistent with this Resolution and thelimits prescribed herein and are <br />recommended or approved by Special Counsel for the Series 1987 <br />Certificates financing and approved by such officers, such approval <br />to be conclusively evidenced by the execution and delivery thereof. <br /> <br /> 2. The City Council hereby authorizes the appropriate <br />officers of the City, for and on behalf of the City, to execute and <br />deliver any and all documents which they may deem necessary and <br />advisable in order to consummate the sale and delivery of the Series <br />1987 Certificates and otherwise effectuate the purposes of this <br />Resolution, and such actions previously taken by such officers are <br />hereby ratified and confirmed. <br /> <br /> <br />