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<br />- <br /> <br />. <br /> <br />- <br /> <br />. <br /> <br />. <br /> <br />Page 2 <br />Resolution 86-1 <br /> <br />2. The issuance and sale of the Bonds shall be <br />upon such terms and conditions as may be mutually agreed <br />upon by the Authority, the Developers and the purchased of <br />said Bonds and shall be authorized by resolution of the <br />Authority at a meeting duly held and conducted for such <br />purpose. <br /> <br />3. The proceeds of the bonds shall include such <br />related and necessary issuance expenses, administrative <br />costs, debt service reserves and interest payments as may be <br />required to accomplish successfully the financing. <br /> <br />Bonds <br />34292 <br /> <br />4. The Authority declares the issuance of the <br />to be an emergency matter within the meaning of Section <br />of the California Health and Safety Code. <br /> <br />ADOPTED, this "Ircì <br />1986, by the following vote: <br /> <br />day of <br /> <br />Fphrn"ry <br /> <br />, <br /> <br />AYES: <br /> <br />MEMBERS: <br /> <br />Griset, Johnson, Luxembourger, Hart <br />McGuigan, Young, Acosta <br /> <br />7 <br /> <br />NOES: <br /> <br />MEMBERS: <br /> <br />ABSENT: <br /> <br />MEMBERS: <br /> <br />~ <br /> <br />CHAIRMAN <br /> <br />A"'ESÇl¡jf;;~ <br /> <br /> <br />Executive Director of <br />Housing Authority <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />Authority <br /> <br />..J <br />