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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 />28 <br />Efficiency of California's ("FARECal's") $46,565,000 Certificates of Participation, 1997 Series <br />(Capital Improvements Program) (the "Prior Certificates"); and <br />WHEREAS, it has been proposed that the Authority acquire the Facilities and <br />that the City purchase the Facilities from the Authority pursuant to an Installment Purchase <br />Agreement, by and between the City and the Authority (the "Installment Purchase <br />Agreement"), the proposed form of which is attached hereto, pursuant to which the City will <br />agree to make certain purchase payments with such series designation as the Mayor, the <br />City Manager, the Assistant City Manager, the Treasurer, the Finance Director or the Electric <br />Utility Director (each, an "Authorized Officer") shall determine in connection with the Facilities <br />and the prepayment of all or a portion of the Prior Certificates (collectively, the "Purchase <br />Payments") in connection therewith; and <br />WHEREAS, the Authority and the City have determined that it would be in the <br />best interests of the Authority, the City and the citizens of the City to authorize, pursuant to <br />an Indenture of Trust (the "Indenture"), the proposed form of which is attached hereto, for the <br />purpose of raising funds necessary to finance the Facilities and prepay all or a portion of the <br />Prior Certificates, the issuance of revenue bonds in one or more series on a tax-exempt or <br />taxable basis by the Authority (the "Bonds") in the aggregate principal amount of not to <br />exceed $17,000,000 under the provisions of Article 4 (commencing with Section 6584) of <br />Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the <br />"Act"), which Bonds will be sold on a negotiated basis pursuant to a Bond Purchase Contract <br />(the "Bond Purchase Contract"), the proposed form of which is attached hereto; and <br />WHEREAS, the City has determined that financing the Facilities will result in <br />significant public benefits to the citizens of the City and desires to approve the documents <br />referenced above and authorize and approve the transactions contemplated thereby; <br />