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(c) This resolution is adopted as official action of the Issuer in order to comply with Treasury Regulation S 1.1 03-8(a)(5) and Treasury Regulation S 1.150 2 and any other regulations of the Internal Revenue Service relating to the qualification for reimbursement of expenditures incurred prior to the date of issue of the obligations, is part of the Authority's official proceedings, and will be available for inspection by the general public at the main administrative office of the Authority. Section 5. The Authority by the adoption of this resolution shall be under no obligation to proceed with the approval of any financing for the Borrower or the Project, and the Borrower shall acquire no rights against the Authority by reason thereof. Section 6. Any authorized officer of the Authority (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 Council 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 and (iii) publish notice of the filing of the Application by the Borrower in accordance with Section 91530(e) of the Act in a newspaper of general circulation within the City at the time and in the manner required by the Act. Section 7. The City Council of the City 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 at the time and in the manner required by the Act. Section 8. All actions heretofore taken by the officers and agents of the Authority with respect to the approval of the application of the Borrower with respect to the Project are hereby approved, confirmed and ratified, and the officers of the Authority and their authorized designees, deputies and agents are each hereby authorized and directed, jointly and severally, to do any and all things and to execute and deliver any an all certificates and documents which they, bond counsel, special tax counsel and the Authority Attorney may deem necessary or advisable in order to effectuate the purpose of this Resolution. Section 9. This Resolution shall take effect from and after its inception. ADOPTED this 16th day of Julv 2007. IDA Resolution No. 2007-001 Page 3 of 4