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05/23/2016 Section 3. This City Council hereby approves the sale of the Bonds to the Underwriter. The Bond Purchase Agreement, in the form on file with the City Clerk, is hereby approved and the Authorized Officers, each acting alone, are hereby authorized to execute the Bond Purchase Agreement in said form, together with such changes therein or additions thereto as may be approved by the Director of Finance upon consultation with Bond Counsel and the City Attorney, provided that the aggregate principal amount of the Bonds does not exceed the amount set forth in Section 1, the true interest cost of the Bonds is not in excess of 4.50%, and the Underwriter's discount (without regard to any original issue discount) is not in excess of 1.20% of the principal amount of the Bonds. Section 4. This City Council hereby approves the Preliminary Official Statement in the form on file with the City Clerk, together with any changes therein or additions thereto deemed advisable by the Director of Finance. The City Council authorizes the Authorized Officers, each acting alone, on behalf of the City and the District, to deem "final" pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934 (the "Rule") the Preliminary Official Statement prior to its distribution by the Underwriter to prospective purchasers of the Bonds. The Underwriter, on behalf of the City and the District, is authorized and directed to cause the Preliminary Official Statement to be distributed to such municipal bond broker-dealers, to such banking institutions and to such other persons as may be interested in purchasing the Bonds. The Authorized Officers are hereby authorized and directed to assist Disclosure Counsel in causing the Preliminary Official Statement to be brought into the form of a final official statement (the "Final Official Statement"), and the Authorized Officers, each acting alone, are hereby authorized to execute the Final Official Statement and a statement that the facts contained in the Final Official Statement, and any supplement or amendment thereto (which shall be deemed an original part thereof for the purpose of such statement) were, at the time of sale of the Bonds, true and correct in all material respects and that the Final Official Statement did not, on the date of sale of the Bonds, and do not, as of the date of delivery of the Bonds contain any untrue statement of material fact with respect to the City or the District or omit to state material facts with respect to the City or the District required to be stated where necessary to make any statement made therein not misleading in the light of the circumstances under which it was made. The execution and delivery by an Authorized Officer of the Final Official Statement, which shall include such changes and additions thereto deemed advisable by the Director of Finance and such information permitted to be excluded from the Preliminary Official Statement pursuant to the Rule, shall be conclusive evidence of the approval of the Final Official Statement by the City. The Final Official Statement, when prepared, is approved for distribution in connection with the offering and sale of the Bonds. ATTY/RE50.0046/CC RESO APPROVING SALE OF BONDS RESO.#15494 REV:05-24-1615 MUFF#505 Page4of8