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<br />C. The City Council of the City (the "City Council") is the elected legislative <br />body of the City and is one of the "applicable elected representatives" <br />required to approve the issuance of the Bonds under Section 147(f) of the <br />Code; and <br />D. The Authority has requested that the City Council approve the issuance of <br />the Bonds by the Authority in order to satisfy the public approval <br />requirement of Section 147(f) of the Code and the requirements of Section <br />4 of the Joint Exercise of Powers Agreement Relating to the California <br />Municipal Finance Authority, dated as of January 1, 2004 (the <br />"Agreement"), among certain local agencies, including the City; and <br /> <br />E. Pursuant to Section 147(f) of the Code, the City Council has, following <br />notice duly given, held a public hearing regarding the issuance of the <br />Bonds, and now desires to approve the issuance of the Bonds by the <br />Authority. <br /> <br />Section 2. The City Council hereby approves the issuance of the Bonds by the <br />Authority. It is the purpose and intent of the City Council that this resolution constitute <br />approval of the issuance of the Bonds by the Authority, for the purposes of (a) Section <br />147(f) of the Code by the applicable elected representative of the governmental unit <br />having jurisdiction over a portion of the area in which the Project is to be located, in <br />accordance with said Section 147(f) and (b) Section 4 of the Agreement. <br /> <br />Section 3, The adoption of this Resolution shall not obligate the City or any <br />department thereof to: (i) provide any financing to acquire or construct the Project or <br />any refinancing of the Project; (ii) approve any application or request for or take any <br />other action in connection with any planning approval, permit or other action necessary <br />for the acquisition, rehabilitation or operation of the Project; (iii) make any contribution or <br />advance any funds whatsoever to the Authority; or (iv) take any further action with <br />respect to the Authority or its membership therein, <br /> <br />Section 4, The City Manager, the Director of Finance and Management <br />Services, the Clerk of the Council and all other proper officers and officials of the City <br />are hereby authorized and directed to execute such other agreements, documents and <br />certificates, and to perform such other acts and deeds, as may be necessary or <br />convenient to effect the purposes of this Resolution and the transactions herein <br />authorized, <br /> <br />Section 5. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br /> <br />7SEf-4 <br />