1987 RES R-79-87 - Laserfiche WebLink

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1 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 hereby approves the issuance of not to exceed $23,300,000 prin- cipal amount of the City's Single Family Residential Mortgage Revenue Refunding Bonds (GNMA Mortgage -Backed Securities Pro- gram) Series 1987 A pursuant to provisions of the Act, all sub- ject to the requirements of the Act. This approval is intended to satisfy the requirements of Section 147(f) of the Code. SECTION 2. Trust Indenture. The form of Trust Inden- ture dated as of July 1, 1987 by and between the City and Secur- ity Pacific National Bank, as trustee (the "Trust Indenture") presented at this meeting is hereby approved and the Mayor or the Mayor Pro Tem and the City Clerk are hereby authorized and directed, for and in the name of and on behalf of the City, to execute, acknowledge and deliver said Trust Indenture in sub- stantially the form presented at this meeting with such insub- stantial changes therein as the officers executing the same may approve, such approval to be conclusively evidenced by the execution and delivery thereof. SECTION 3. Appointment of Trustee. Security Pacific National Bank is hereby appointed as Trustee pursuant to the Trust Indenture, to take any and all action provided for therein to be taken by the Trustee. SECTION 4. Remarketing Agreement. The form of Remar- keting Agreement dated as of July 1, 1987 (the "Remarketing Agreement") by and among the City, Security Pacific National Bank, as Tender Agent, and Miller & Schroeder Financial, Inc., as Remarketing Agent, presented at this meeting is hereby approved and the Mayor or the Mayor Pro Tem and the City Clerk are hereby authorized and directed, for and in the name of and -4-