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Section 19. Effectiveness This Purchase Agreement shall become effective upon the execution <br />of the acceptance hereof by an authorized officer of the City, and shall be valid and enforceable as of the <br />time of such acceptance. <br />Very truly yours, <br />MORGAN KEEGAN & COMPANY, INC. <br />WEDBUSH SECURITIES INC. <br />By: MORGAN KEEGAN & COMPANY, INC., as <br />Representative of the Underwriters <br />Approved and Accepted by: <br />CITY OF SAN LEANDRO <br />Jim O'Leary <br />Interim Finance Director <br />Time of Execution: [am] /[pm] <br />Robert J. Larkins <br />Managing Director <br />074 - 11022 \bpa -3 16 <br />