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hereby authorized and directed to take all actions necessary to effect the issuance and sale of the
<br />Bonds.
<br />
<br /> Section 2. Indenture. The foden of Indenture of Trust (the "Indenture"), by and between
<br />the Agency and First Trust of California, National Association (the "Trustee"), presented to this
<br />meeting and on file with the Secretary, is hereby approved. The Chairperson, Executive Director,
<br />Treasurer or such other person designated by the Executive Director is hereby authorized and
<br />directed, for and in the name and on behalf of the Agency, to execute and deliver said Indenture
<br />in substantially said fomi, with such changes therein as such officer may require or approve, such
<br />approval to be conclusively evidenced by the execution and delivery thereof.
<br />
<br /> Section 3. Escrow Agreement. The form of the Escrow Agreement (the "Escrow
<br />Agreement"), by and among the Agency, the Authority and First Trust of California, National
<br />Association, as Escrow Agent, presented to this meeting and on file with the Secretary, is hereby
<br />approved. The Chairperson, Executive Director, Treasurer or such other person designated by
<br />the Executive Director is hereby authorized and directed, for and in the name and on behalf of
<br />the Agency, to execute and deliver said Escrow Agreement in substantially said form, with such
<br />changes therein as such officer may require or approve, such approval to be conclusively
<br />evidenced by the execution and delivery thereof.
<br />
<br /> Section 4. Purchase Contract. The form of the Purchase Contract (the "Purchase
<br />Contract"), by and between the Agency and Rauscher Pierce Refsnes, Inc. (the "Underwriter"),
<br />presented to this meeting and on file with the Secretary, is hereby approved. The Chairperson,
<br />Executive Director, Treasurer or such other person designated by the Executive Director is hereby
<br />authorized and directed, for and in the name and on behalf of the Agency, to execute and deliver
<br />said Purchase Contract in substantially said form, with such changes therein as such officer may
<br />require or approve, such approval to be conclusively evidenced by the execution and delivery
<br />thereof; provided that the maximum interest rate under such Purchase Contract shall not exceed
<br />7.5%, the principal amount shall not exceed $15,000,000 and the underwfiter's discount
<br />(excluding original issue discount) shall not exceed 1.10%.
<br />
<br /> Section 5. Official Statement. The form of Official Statement ("Official Statement")
<br />relating to the Bonds, presented to this meeting and on file with the Secretary, is hereby
<br />approved. The Official Statement in substantially said form, with such changes as the officers
<br />described below may require or approve, such approval to be conclusively evidenced by the
<br />execution and delivery thereof shall hereinafter be referred to as the "Official Statement." The
<br />Chairperson, the Executive Director, Treasurer or such other person designated by the Executive
<br />Director, is hereby authorized and directed, for and in the name and on behalf of the Agency, to
<br />execute, approve and deliver to the Underwriter said Official Statement and to certify such
<br />Official Statement is, as of its date, "deemed final" by the Agency for purposes of Rule 15c2-12
<br />of the Securities and Exchange Commission. The Underwriter is hereby authorized to distribute
<br />copies of said Official Statement to persons who may be interested in the purchase of the Bonds,
<br />and the Underwriter is directed to deliver copies of the final Official Statement to the purchaser
<br />of the Bonds.
<br />
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