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8.B. - Page 9 <br /> Section 5. The City hereby covenants, for the benefit of the Bondowners, to commence <br /> and diligently pursue to completion any foreclosure action regarding delinquent installments of <br /> any amount levied as a special tax for the payment of interest or principal of the Bonds, said <br /> foreclosure action to be commenced and pursued as more completely set forth in the Fiscal Agent <br /> Agreement. <br /> Section 6. The Bonds, when executed, shall be delivered to the Fiscal Agent for <br /> authentication. The Fiscal Agent is hereby requested and directed to authenticate the Bonds by <br /> executing the Fiscal Agent's certificate of authentication and registration appearing thereon, and <br /> to deliver the Bonds, when duly executed and authenticated, to the Underwriter in accordance <br /> with written instructions executed on behalf of the City by one or more of the Authorized <br /> Officers, which instructions such officers are each hereby authorized, for and in the name and on <br /> behalf of the City, to execute and deliver to the Fiscal Agent. Such instructions shall provide for <br /> the delivery of the Bonds to the Underwriter or its designee in accordance with the Bond <br /> Purchase Agreement, upon payment of the purchase price therefor. <br /> Section 7. All actions heretofore taken by the officers and agents of the City with respect <br /> to the establishment of the District and the sale and issuance of the Bonds are hereby approved, <br /> confirmed and ratified, and the proper officers of the City are each hereby authorized and <br /> directed to do any and all things and take any and all actions and execute any and all certificates, <br /> agreements and other documents, which they, or any of them, may deem necessary or advisable <br /> in order to consummate the lawful issuance and delivery of the Bonds in accordance with this <br /> Resolution, and any certificate, agreement, and other document described in the documents <br /> herein approved. Any document herein approved and executed and delivered by any one of the <br /> Authorized Officers shall be a valid and binding agreement of the City. <br /> Section 8. This Resolution shall take effect upon its adoption. <br /> PASSED AND ADOPTED this 3rd day of December, 2012. <br /> ATTY/RES0.2813/ISSUANCE OF SPECIAL TAX BOND FOR AND ON BEHALF OF COMMUNITY FACILITIES DISTRICT NO. <br /> 99-1 <br /> REV: 11-28-12 PT <br /> 5 <br />