1998-003 SAFA - Laserfiche WebLink

Home Browse Search

of California, as trustee (the "Trustee"). The Board hereby approves the Indenture in the form on file with the Secretary, together with any changes therein or additions thereto approved by the official of the Authority executing the Indenture, and the execution thereof by the Authority shall be conclusive evidence of the approval of any such changes or additions The Board hereby authorizes and directs the Chairman, the Executive Director or the Treasurer, each acting alone, to execute, and the Secretary to attest and affix the seal of the Authority to, the final form of the Indenture for and in the name of the Authority. The Board of Directors hereby authorizes the delivery and performance by the Authority of the Indenture. Section 3. Purchase of Agency Bonds. The Board hereby authorizes and approves the purchase of the Agency Bonds from the Agency by the Trustee on behalf of the Authority pursuant to and in accordance with the provisions of the Assignment Agreement by and among the Agency, the Authority and the Trustee (the "Assignment Agreement"). The Board hereby approves the Assignment Agreement in the form on file with the Secretary, together with any changes therein or additions thereto deemed advisable by the official of the Authority executing the Assignment Agreement, and the execution thereof by the Authority shall be conclusive evidence of the approval of any such changes or additions. The Board hereby authorizes and directs the Chairman, the Executive Director or the Treasurer, each acting alone, to execute, and the Secretary to attest and affix the seal of the Authority to, the final form of the Assignment Agreement for and in the name of the Authority. The Board hereby authorizes the delivery and performance by the Authority of the Assignment Agreement. Section 4. Sale of Bonds. The Board hereby approves the sale of the Bonds by negotiation with Stone & Youngberg LLC (the "Underwriter"). The Bonds shall be sold pursuant to a Purchase Agreement (the "Bond Purchase Agreement") by and between the Authority and the Underwriter in the form on file with the Secretary, together with any changes therein or additions thereto approved by the official of the Authority executing the Purchase Agreement, whose execution thereof shall be conclusive evidence of his approval of any such additions and changes. The Bond Purchase Agreement shall be executed in the name and on behalf of the Authority by the Chairman, the Executive Director or the Treasurer, each acting alone, upon submission of a proposal by the Underwriter to purchase the Bonds; provided, however, that such proposal is acceptable to such official and is consistent with the requirements of this Resolution. The amount of Underwriter's discount (without regard to any original issue discount) shall be not more than one and seventy one-hundredths percent (1.70%) of the par amount of the Bonds, and the net interest cost of the Bonds shall not exceed six and one-half percent (6.50%) per annum. Section 5. Approval of Related Documents. The Continuing Disclosure Certificate by the Authority and as acknowledged by the Trustee, be and are hereby approved, and the Chairman, the Executive Director or the Treasurer is hereby authorized and directed to execute and deliver, for and on behalf of the Authority, said document in the form on file with the Secretary together with such changes, insertions or deletions as may be approved by the official executing such document upon consultation with the Authority's general counsel and Bond Counsel, the approval thereof to be conclusively evidenced by the execution and delivery by the Authority of the Continuing Disclosure Certificate. The Secretary is hereby authorized and directed to attest such official's signature to such document. Section 6. Preliminary Official Statement. The Authority hereby approves the Preliminary Official Statement describing the financing in the form on file with the Secretary, together with any changes therein or additions thereto deemed advisable by the Chairman, the Executive Director or the Treasurer. The Authority authorizes and directs the Chairman, the Executive Director or the Treasurer, on behalf of the Authority to deem "final" pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934, the information relating to the Authority,