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Quint & Thimmig LLP • COUNTYWIDE PUBLIC FINANCING AUTHORITY RESOLUTION N0.99-4 09/24/99 RESOLUTION AUTHORIZING AND DIRECTING EXECUTION OF A FIRST SUPPLEMENTAL INDENTURE RELATING TO THE AUTHORITY'S COUNTYWIDE PUBLIC FINANCING AUTHORITY 1996 REVENUE BONDS AND AUTHORIZING AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO RESOLVED, by the Board of Directors (the "Board") of the Countywide Public Financing Authority (the "Authority"), as follows: WHEREAS, the Authority is a joint exercise of powers authority duly organized and existing under and pursuant to that certain Joint Exercise of Powers Agreement, dated June 19, 1996, by and among the Cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa Ana, Seal Beach, Stanton and Tustin (collectively, the "Members'), and under the provisions of Articles 1 through 4 (commencing with section 6500) of Chapter 5 of Division 7 of Title 1 of the California Government Code (the "Act"), and is authorized pursuant to Article 4 (commencing • with section 6584) of the Act (the "Bond Law') to borrow money for the purpose of financing the acquisition of bonds, notes and other obligations of, or for the purpose of making loans to, public entities, including the Members, and to provide financing for public capital improvements of public entities, including the Members; WHEREAS, in connection with the financing by each of the Members of their proportionate share of the Orange County Countywide 800 MHz communications system and to finance other capital improvements within the geographic boundaries of the certain of the Members, the Authority has, pursuant to that certain Indenture of Trust, dated as of July 1,1996 (the "Indenture"), by and between the Authority and U.S. Trust Company of California, N.A. (the "Trustee"), issued its Countywide Public Financing Authority 1996 Revenue Bonds, in the aggregate principal amount of $27,725,000 (the "Bonds"); WHEREAS, in order to provide for the repayment of the Bonds, each Member has agreed to lease certain real property and improvements to the Authority and to lease-back such real property and improvements from the Authority pursuant to separate lease agreements, each dated as of July 1, 1996, by and between the Authority, as lessor, and such Member, as lessee, under which such Members, in the aggregate, have agreed to make certain lease payments to the Authority which have been calculated to be sufficient to enable the Authority to pay the principal of and interest and premium (if any) on the Bonds when due and payable; WHEREAS, it has been determined that certain provisions of the Indenture relating to . the Reserve Account (as defined in the Indenture) are defective;