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07/28/2003 District for purposes of Securities and Exchange Commission Rule 15c2 -12. Each of the Authorized Representatives, acting solely, is hereby authorized to execute, on behalf and in the name of the District, a final official statement (the "Official Statement'), substantially in the form of the Preliminary Official Statement, together with such changes as are determined necessary or appropriate by the Authorized Representatives to make the Official Statement complete and accurate as of its date. The Underwriter is further authorized to distribute the final Official Statement to the purchasers of the Bonds upon its execution by an Authorized Representative of the District as described above. SECTION 5. Property Value In accordance with the requirements of Section 53345.8(a) of the Act, the Council hereby finds and determines the value of the real property in the District subject to the special tax to pay debt service on the Bonds is at least three times the principal amount of the Bonds and the principal amount of all other bonds outstanding that are secured by a special tax levied pursuant to the Act or a special assessment levied on property within the District. SECTION 6. Appointment of Fiscal Agent BNY Western Trust Company is hereby appointed to act as Fiscal Agent, Registrar and Transfer Agent for the Bonds and each Authorized Representative, acting solely, is hereby authorized and directed to enter into an agreement with the Fiscal Agent to provide such services to the District. SECTION 7. Official Action The Authorized Representatives, and any and all other officers of the City are hereby authorized and directed, jointly and severally, for and in the name and on behalf of the City or the District, as applicable, to do any and all things and to execute and deliver any and all documents which they deem necessary or FATTY /RESO /RES0.1407 14543 071403 6