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29114-19 JH:SM:ldw 03/19/03 04/07/03 SAN LEANDRO PUBLIC FINANCING AUTHORITY RESOLUTION NO. 2003-01 (2735) RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF NOT TO EXCEED $15,000,000 CERTIFICATES OF PARTICIPATION, AUTHORIZING AND DIRECTING EXECUTION OF RELATED LEASE FINANCING DOCUMENTS, APPROVING OFFICIAL STATEMENT AND AUTHORIZING OFFICIAL ACTIONS RESOLVED, by the San Leandro Public Financing Authority (the "Authority"), as follows: WHEREAS, the Authority and the City have heretofore caused the execution and delivery of Certificates of Participation (1993 Seismic Retrofit Financing Project) (the "1993 Certificates") evidencing the direct, undivided fractional interest of the owner hereof in lease payments to be made by the City as the rental for certain property pursuant to a Lease Agreement dated as of June 1, 1993 (the "1993 Lease Agreement") with the Authority; and WHEREAS, the proceeds of the 1993 Certificates were used to provide certain capital improvements to the City Hall of the City; and WHEREAS, in order to provide funds to allow the City to prepay its obligations under the 1993 Lease and to refund the 1993 Certificates, and to finance additional capital improvements of the City, the City has agreed to lease certain real property, consisting of the City's existing City Hall (the "Leased Premises"), to the Authority as provided in the Site Lease, as defined herein, and has further agreed to sublease the Leased Premises back from the Authority pursuant to that certain Lease Agreement expected to be dated as of May 1, 2003, by and between the Authority as sublessor and the City as sublessee (the "Lease Agreement"); and WHEREAS, the City proposes to assign and transfer certain of its rights under the Lease Agreement to the Trustee and, in consideration of such assignment and the execution of a Trust Agreement expected to be dated as of May 1, 2003 among the City, the Authority and U.S. Bank National Association, as trustee (the "Trustee"), the Trustee has agreed to execute and deliver 2003 Certificates of Participation (City Hall Refunding Project) in the aggregate principal amount of not to exceed $15,000,000 (the "Certificates"), each evidencing a direct, undivided fractional interest in the lease payments to be paid by the City pursuant to the Lease Agreement; NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: Section 1. Execution and Delivery of Certificates. The Authority hereby authorizes the execution and delivery of the Certificates, representing the right to receive lease payments under the Lease Agreement in the aggregate principal amount of not to exceed $15,000,000, and the execution and delivery of the following agreements (collectively, the "Agreements") :