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. Representative") to execute by manual or facsimile signature and deliver the Loan Agreements, and the Secretary of the Authority or designee is authorized to attest to the Loan Agreements, in the form presented to this Board with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to the Authority, such approval to be conclusively evidenced by the execution and delivery of the Loan Agreements. Payment of the principal, premium, if any, and the interest on the Loans shall be made solely from the revenues received by the Authority from the Borrower pursuant to the Loan Agreements, and the Loans shall not be deemed to constitute a debt or liability of the Authority, the City, the State of California or any political subdivision thereof. The Authority further authorizes and approves lending the proceeds of the Loans to the Borrower to finance a portion of the costs of the Project pursuant to the terms and provisions of the Loan Agreements. . Section 3. Subject to approval as to form of the Authority Attorney, the form of the Tax Regulatory Agreement presented at this meeting is hereby approved, and the Authorized Representative is hereby authorized to execute by manual of facsimile signature and deliver the Tax Regulatory Agreement with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to Authority, such approval to be conclusively evidenced by execution and delivery of the Tax Regulatory Agreement by an Authorized Representative. Section 4. Subject to approval as to form of the Authority Attorney, the form of the Escrow Agreements presented at this meeting are hereby approved and the Authorized Representative is hereby authorized to execute by manual of facsimile signature and deliver the Escrow Agreements with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to Authority, such approval to be conclusively evidenced by execution and delivery of the Escrow Agreement by an Authorized Representative. Section 5. determines that: The Board of Directors of the Authority hereby finds and (a) the use of the Project in an Empowerment Zone is in accord with Section 91503 of the Act; (b) the use of the Project is likely to result in public benefits and employment benefits by securing or increasing the number of employees of the Borrower, and any other direct users of the Project or the compensation for such employment; . IDA Resolution No. 2004-002 Page 3 of 6