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(c) the Loans made by the Authority in the amount sufficient to finance all or a portion of the costs of the Project is likely to be a substantial factor in the accrual of each of such public benefits from the use of the Project; and (d) the proposed financing of the Project is otherwise in accord with the purposes and requirements of the Act. Section 6. In no event shall the Loans constitute a pledge of faith and credit of the Authority, the City, the State of California (the "State") or any political corporation, subdivision or agency of the State, and none of the City, the State or any political corporation, subdivision or agency of the State shall be liable to make any appropriation for the repayment of the Loans. The Loans shall constitute a special obligation of the Authority payable solely from the revenues or other sources provided for in the Loan Agreements and proceedings relating to the Loans. Section 7. The Authorized Representative or his or her designee is hereby requested and authorized to (i) file a copy of this Resolution and the Application with the Clerk of the City, and (ii) file such information with the California Industrial Development Financing Advisory Commission as may be required for the review and approval of the Project pursuant to Section 91531 of the Act. Publication of the notice of the filing of the Application by the Applicant in accordance with Section 91530(e) of the Act in a newspaper of general circulation within the City on November 29, 2004 is hereby approved, confirmed and ratified. Section 8. The Authorized Representative or duly appointed designee is hereby requested to conduct a public hearing with respect to the financing of the Project for the purpose of satisfying the public approval requirements of Section 147(f) of the Internal Revenue Code of 1986. Publication of the notice of such public hearing in a newspaper of general circulation within the City on November 29, 2004 is hereby approved, confirmed and ratified. Section 9. The Authorized Representative or duly appointed designee, on behalf of the Authority, are authorized to execute all documents, certificates, and instruments necessary or appropriate to this transaction and undertaking the Loans and entering into the Loan Agreements; provided, however that the Loans will not be undertaken and the Loan Agreements shall not be entered into and delivered on behalf of the Authority until the California Industrial Development Financing Advisory Commission has made all necessary findings and determinations and given all necessary approvals as required by the Act. Section 10. Prior to execution of the Loan Agreement or Tax Regulatory Agreement, the Authorized Representative or duly appointed designee, on behalf of the Authority, shall approve in writing the final compensation being made to the financing team. IDA Resolution No. 2004-002 Page 4 of6 .--------