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Resolution No. 88-~ <br />Page 11 <br /> <br />debt service on the Bonds, will be required on or prior to <br />the date of issuance of the Bonds; and <br /> <br /> WHEREAS, all acts, conditions and things required by <br />the Constitution and laws of the State to exist, to have <br />happened and to have been performed precedent to and in <br />connection with the execution of the Joint Powers <br />Agreement and the Coverage Agreement as authorized hereby <br />do exist, have happened and have been performed in regular <br />and due time, form and manner as required by law, and the <br />City is now duly authorized and empowered, pursuant to <br />each and every requirement of law, to execute the Joint <br />Powers Agreement and the Coverage Agreement, in the manner <br />and upon the terms herein provided; <br /> <br /> NOWt THEREFOREv BE IT RESOLVED BY THE COUNCIL OF TEE <br />CITY OF SANTA ANA AS FOLLOWS: <br /> <br /> SECTION 1. Declaration of Council. This Council <br />hereby specifically finds and declares that the actions <br />authorized hereby constitute and are with respect to <br />public affairs of the City, and that the statements, <br />findings and determinations of the City set forth in the <br />preambles above and of the documents approved herein are <br />true and correct. <br /> <br /> SECTION 2. Joint Powers Agreement. Pursuant to <br />Section 6502 of the Joint Powers Law, the Joint Powers <br />Agreement creating the Big Independent Cities Excess Pool <br /> <br />421 <br /> <br /> <br />