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An Authorized Officer is hereby authorized and directed to execute, and the City Clerk is hereby authorized and directed to attest to, the final forms of each of the above- mentioned documents for and in the name and on behalf of the City. The City Council further authorizes staff, with the advise of the City's Financial Advisor, to delete provisions in the Indenture and Installment Purchase Contract relating to the future termination of the Reserve Fund if such action is determined to be in the best interests of the City. Section 4. Sale of Bonds; Notice of Sale. The City Council hereby approves the sale of the Bonds by the Authority; provided that the final maturity shall not exceed the final maturity of the Refunded Bonds and the net present value savings with respect to the Refunded Bonds shall be at least three percent (3.00%). The City Council hereby approves the form of the Notice of Sale in substantially the form on file with the City Clerk, together with such additions thereto and changes therein as the City Attorney and Bond Counsel shall deem necessary, desirable or appropriate. Section 5. Official Statement. The City Council approves the preparation of, and hereby authorizes an Authorized Officer to deem final within the meaning of Rule 15c2-12 of the Securities and Exchange Commission except for permitted omissions, a preliminary form of Official Statement describing the Bonds. An Authorized Officer is hereby authorized to execute the final Official Statement in the name and on behalf of the City, including as it may be modified by such additions thereto and changes therein as the Authorized Officers, upon consultation with the City Attorney, disclosure counsel and bond counsel, shall deem necessary, desirable or appropriate, and the execution of the final Official Statement by the Authorized Officers shall be conclusive evidence of the approval of any such additions and changes. Section 6. Official Actions. The Authorized Officers, the City Clerk and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions, including obtaining a rating on the Bonds and/or a municipal bond insurance policy and a debt reserve fund surety bond, and including execution and delivery of any and all assignments, certificates, requisitions, agreements, notices, consents, instruments of conveyance, warrants and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the transactions as described herein in connection with the issuance and sale of the Bonds. Section 7. Effective Date. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 20th day of May, 2013. ATTY/RES0.2855/PFA WATER REV BONDS CITY RESO RESO.#15263 REV:05-06-13 PT MUFF#505 Page 3 of 3