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0 R I G I N A L 1/6/97 RESOLUTION NO. PFA 97-01 RESOLUTION OF THE COMMISSION OF THE CITY OF REDWOOD CITY LOCAL PUBLIC FINANCING AUTHORITY AUTHORIZING THE EXECUTION OF AN ESCROW AGREEMENT AND CERTAIN RELATED MATTERS WHEREAS, the Redevelopment Agency of the City of Redwood City (the "Agency") has authorized, by resolution duly adopted on this date (the "Agency Resolution"), the issuance of its Redevelopment Project Area No. 2, Tax Allocation Refunding Bonds, Series 1997 (the "Bonds") in an aggregate principal amount not to exceed $15,000,000 to prepay certain outstanding loan obligations described below which financed redevelopment projects in furtherance of the Agency's Redevelopment Project; and WHEREAS, the Authority will use the proceeds received from the Agency to be refund the Authority's 1991 Local Agency Revenue Bonds, Series B (the "Prior Bonds"), the proceeds of which were loaned to the Agency pursuant to a Loan Agreement, dated as of July 15, 1991; NOW THEREFORE, BE IT RESOLVED by the Commission of the City of Redwood City Local Public Financing Authority as follows: Section 1. The form of the Escrow Agreement (the "Escrow Agreement"), by and between the Authority, the Agency and First Trust of California, National Association, as Escrow Agent, presented to this meeting and on file with the Secretary of the Board, is hereby approved. The Chairperson, the Executive Director or such other person designated by the Chairperson is hereby authorized and directed, for and in the name and on behalf of the Authority, to execute and deliver said Escrow Agreement in substantially said form, with such changes therein as such officer may require or approve, such approval to be conclusively evidenced by the execution and delivery thereof. Section 2. The officers of the Authority are hereby authorized and directed, jointly and severally, to do any and all things and execute and deliver any and all