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<br />2040 and the true interest cost applicable to the Certificates shall not exceed 6.00% per <br />annum and, provided, further, that such changes, insertions and omissions shall be <br />consistent with the terms of the Certificates as finally executed. <br /> <br />Section 5. The execution and delivery of not to exceed $70,000,000 aggregate <br />principal amount of the Certificates, in the principal amounts, bearing interest at the <br />rates and maturing on the dates as specified in the Trust Agreement as finally executed, <br />is hereby authorized and approved. <br /> <br />Section 6. The officers and agents of the Authority are hereby authorized and <br />directed, jointly and severally, to do any and all things which they may deem necessary <br />or advisable in order to consummate the transactions herein authorized and otherwise <br />to carry out, give effect to and comply with the terms and intent of this Resolution, <br />including, without limitation, negotiating the terms of an insurance policy and/or a <br />reserve surety bond to the extent such insurance and surety bond is determined to be <br />economically advantageous. <br /> <br />Section 7. All actions heretofore taken by the officers and agents of the <br />Authority with respect to the transactions set forth above are hereby approved, <br />confirmed and ratified. <br /> <br />Section 8. This Resolution shall take effect immediately upon its adoption by <br />the Governing Board, and the Secretary shall attest to and certify the vote adopting this <br />Resolution. <br /> <br />ADOPTED this 20th day of AUQust, 2007. <br /> <br />fPPROVE!~ A~~~;~ <br /> <br />\", , ,.J." /1, '7 if. .,t. ' ", <br />B '-,- - ~ ~~(-7!-/ .--/ <br />y: /r'/./ <br />JosEWh: fTetcner;-AfftlIOf~t.y Counsel <br /> <br />cl~c,JC, . <br /> <br />Miguel A. Pulido ~ <br />Chairman U <br /> <br />AtyES: Councilmembers Alvarez, Benavides. Bustamante. Martinez. <br />Sarmiento. Tinaiero (6) <br /> <br />NOES: Councilmembers None (0) <br /> <br />ABSTAIN: Councilmembers None (0) <br /> <br />NOT PRESENT: Councilmembers Pulido (1) <br /> <br />Resolution No. SAFA 2007-002 <br />Page 3 of 4 <br /> <br />