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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />Participation (the "Certificates") bepreparedand sold evi- <br />dencing a proportionate interest in the obligation of the Agency <br />to make purchase payments under the First Installment Sale <br />Agreement for the purpose of providing funds for the acquisition <br />and construction of the Project; and <br />WHEREAS, the Certificates are proposed to be prepared <br />and delivered pursuant to a Trust Agreement (the "Trust Agree- <br />ment") between the Agency and The Bank of California, N.A., as <br />Trustee; and <br />WHEREAS, notice of a public hearing to be conducted <br />by this City Council with respect to the proposed financing of <br />the Project by the Agency was duly published at least 14 days <br />prior to December 18, 1984, in a newspaper of general circula- <br />tion in the City, which notice set 7:30 p.m. on December 18, <br />1984, and the City Council chambers as the time and place for <br />said hearing; and <br />WHEREAS, this City Council is the applicable govern- <br />mental unit tollconduct said public hearing for purposes of <br />Section 103(k)',of the Internal Revenue Code of 1954, as amended <br />(the "Code"); and <br />WHEREAS, this City Council has duly held said public <br />meeting and hearing with respect to the Project and its pro- <br />posed financing,, all in accordance with Section 103(k) of the <br />Code, at which public hearing interested individuals were given <br />a reasonable opportunity to express their views on the Project <br />and its proposed financing by the Agency; <br />-2- <br />