1986 RES R-132-86 - Laserfiche WebLink

Browse Search

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 related thereto, all of which constitute a "redevelopment activ- ity," as such term is defined in Health and Safety Code Section 33678, is hereby authorized and approved pursuant to Health and Safety Code Section 33640. SECTION 2. Escrow Agreement. The form of Escrow Deposit and Trust Agreement presented at this meeting is hereby approved and the Mayor or Mayor Pro Tempore and the City Clerk are hereby authorized and directed, for and in the name of and on behalf of the City, to execute an Escrow Deposit and Trust Agreement in connection with the refunding of the assessment bonds for each of Assessment District Nos. 76-1, 78-1 and 78-2 in substantially the form hereby approved, with such insubstan- tial changes therein as the officers executing the same may approve, such approval to be conclusively evidenced by the exe- cution and delivery thereof. SECTION 3. Appointment of Escrow Holders. The City hereby appoints Bank of America National Trust and Savings Association as Escrow Holder for the assessment bonds for Assessment District No. 76-1; First Interstate Bank of California as Escrow Holder for the assessment bonds for Assessment District No. 78-1; and Bank of America National Trust and Savings Association as Escrow Holder for the assessment bonds for Assessment District No. 78-2 for all purposes of the Escrow Agreement for each respective issue of bonds. SECTION 4. Other Acts. The officers and staff of the City are hereby authorized and directed, jointly and severally, to do any and all things, to execute and deliver any and all documents, which in consultation with Bond Counsel, they may -3-