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j l' . . I \.. L \... Section 4. Private Activity Bond Allocation. The Board of Directors hereby designates and assigns to the Bonds the amount of $3,300,000 of its Private Activity Bond Limit, heretofore received by transfer from the City of Santa Ana and the State of California for such purpose, and each member of the Board hereby represents and warrants that such allocation is not made in consideration of any bribe, gift, gratuity or direct or indirect campaign contribution. Section 5. Award of Sale. The Bonds shall be sold pursuant to said Bond Purchase Agreement to Da i 1 Y Tax Free Income Fund, Inc. or to such purchasers as shall be designated by The Bank of California as Remarketing Agent, and approved by the Chairman of the Authority or his designated representative, at par value in the principal amount of $3,300,000. Section 6. Official Action. The Chairman, the Executive Director, the Finance Officer, the Secretary of this Board, the Economic Development Analyst and each of them, and any and all other officers of the Authority, acting alone, are hereby severally authorized to execute such certificates, agreements and other closing documents as are necessary or customary for the consummation of the transactions contemplated by the documents enumerated in Section 3 of this Resolution. Section 7. Effective Date. This Resolution shall take effect immediately upon its passage and adoption. ~ * . * * . * . . * ADOPTED, this -15tbday of 1985. April ,~' Daniel E. Griset, Chairman ATTEST: Guy, Directors: Griset Johnson Acosta Hart Luxembourger McGuigan Young Aye Aye Aye Aye Aye Aye Aye ~ -3-