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<br />,t -, <br /> <br />i j <br />, I <br /> <br />(a) it is desirable and in the best interest of the City to enter into the Ground <br />. Lease, the Lease, the Disbursing Agreement and the Continuing Disclosure Certificate. <br /> <br />(b) the terms of the Ground Lease, the Lease, the Disbursing Agreement, the <br />Indenture, the Assigrnnent and the Continuing Disclosure Certificate are found to be <br />'advantageous to the City and the form and terms thereof are hereby approved. <br /> <br />(c) The Site and the Facilities described in the Lease constitute essential <br />government property, and the City presently intends to appropriate all Lease Payments <br />under the Lease for the term of the Lease; however, the obligations of the City under the <br />Lease are not to be payable from nor charged upon any funds of the City other than the <br />. funds appropriated annually to the payment thereof, and the Lease shall not constitute a <br />charge, lien or encwnbrance, legal or equitable, upon any property of the City except its <br />interest in the Lease and in the Site and the Facilities under the Lease. <br /> <br />Bection 3. Authorization of Docwnents. The Mayor and the City Manager are <br />authorized and directed to execute and deliver the Ground Lease, the Lease, the Disbursing <br />Agreement and the Continuing Disclosure Certificate on behalf of the City, substantially in the <br />forms on file, but with all such changes therein as shall be approved by the officers executing the <br />same, which approval shall be conclusively evidenced by the execution thereof. Copies of all of the <br />transaction docwnents shall be delivered, filed and recorded as provided therein. The Mayor and <br />the City Manager and other City officers are also authorized and directed to execute such other <br />instruments as may be required to give effect to the transactions herein contemplated. <br /> <br />'The Official Statement, as completed and supplemented, and its distribution to potential <br />purchasers of the Series 2002A Bonds, are hereby approved. The City, as an "obligated person" <br />with respect to the Series 2002A Bonds, will comply with the requirements of Rule 15c2-12(b)(5) <br />of the Securities and Exchange Commission, as set forth in the Continuing Disclosure Certificate. <br /> <br />Section 4. Aooroval of Issuance and Sale of Series 2002A Bonds. The issuance and <br />sale by the Authority of the Series 2002A Bonds as described in the Official Statement is hereby <br />approved in all respects, provided that the true interest cost of the Series 2002A Bonds (computed in <br />accordance with the Official Terms of Proposal reproduced in the Official Statement) shall not <br />exceed 5.75% per annwn. The City will pay, from proceeds of the Series 2002A Bonds or from <br />other City funds, the costs of issuance of the Series 2002A Bonds. <br /> <br />Section 5. Payment of Lease Pavrnents_ The City will pay to the Trustee, promptly <br />when dpe, all of the Lease Payments and other amounts required by the Lease. To provide moneys <br />to mak(: such payments, the City will include in its annual budget, for each Fiscal Year during the <br />term of the Lease, commencing with the Fiscal Year ending on December 31, 2003, moneys <br />sufficient to pay and for the purpose of paying all Lease Payments, a reasonable estimate of <br />Additional Lease Payments, and other amounts payable under the Lease. The agreement of the City <br />in this Section is subject to the City's right to tenninate the Lease at the end of any Fiscal Year, as <br />set forth in Section 5.6 of the Lease. <br /> <br />SJB~2112D6vl <br />NEI36-175 <br />