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H - -.---IrI I.-- -.I.I-ul.--.I.I.WHEREAS, in accordance with Government Code Section 53360.4, the legislative body of the District determines that a negotiated sale of the Bonds to Piper Jaffray& Co. (the “Underwriter”)inaccordance with theterms of the Bond PurchaseAgreement forthe Bondstobe
entered intobythe District and the Underwriter(the “Bond Purchase Agreement”) willresultina
loweroverall cost to theDistrict thanapublic sale; and
WHEREAS, the legislative body of the District determines that it is prudent in the
management ofits?scal affairsto issue the Bonds; and
WHEREAS, thelegislative body of the District further wishesto approve the formof the
Preliminary Of?cial Statement withrespect to the Bonds(the “Preliminary Of?cial Statement”), presentedatthismeeting; and
NOW, THEREFORE, the City Council of the City ofBeaumont acting as the legislative bodyofCity ofBeaumont Community Facilities DistrictNo. 93-1 doeshereby resolve asfollows:
SECTION 1. Each of the above recitalsistrue andcorrect, as is each of the ?ndings and
determinations set forth therein,and each of saidrecitals,findings and determinationsisadopted
by the legislative body of the District.
SECTION 2. The issuance of the Bonds inan aggregate principal amount not to exceed
$3,000,000 ishereby authorized; andtheexact principalamount to be issued shall be determined
by the of?cer signing the Bond Purchase Agreement in accordance with Section5 below. The
Bonds shall mature on the dates and bear interest at the rates set forth in the Bond Purchase
Agreement to be executed on behalf of the District in accordance with Section 5hereof. The Bonds shall be governed by the terms and conditions of an Indenture of Trust dated as of
January 15, 1994,asamended and supplementedto date,including asamended and supplemented bytheThirty-Sixth Supplemental IndentureofTrust presentedatthis meeting(the“Supplemental
Indenture”), between the District and Wilmington Trust, National Association, as trustee. The SupplementalIndenture shall be executed by one or more of the Mayor, the City Manager, the
Assistant City Manager, orthe Finance Director of theCityor thewritten designee ofone of the
foregoing(collectively, the “Authorized Of?cers”) and attestedto bythe City Clerk, substantially
in theform presentedatthismeeting,with such additionstheretoand changes thereinastheof?cer
orofficersexecuting the same deemnecessary (a)to cure any ambiguityor defect therein,ifsuch addition or change does not materially alter the substance or content thereof, (b)to insert the offering price(s), interest rate(s), selling compensation, principalamount per maturity, redemption
dates and prices and such other related terms and provisions as limited by Section5 hereof,or
(c)to conform any provisions therein to the Bond Purchase Agreement or the Of?cial Statement
delivered to the purchasers of the Bonds. Approval of such changes shall be conclusively evidencedbythe execution and delivery of the Supplemental Indenture byone or more Authorized Of?cers. Capitalizedterms used in this Resolution whichare not de?ned hereinhave the meanings
ascribedto themin the Supplemental Indenture.
~ SECTION 3. The Bonds shall be executed on behalf of the District by the manual or
facsimilesignatureof theMayor and attested withthemanual or facsimilesignature of the City
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-I__-_IJ._-SECTION 4. The covenants set forth in the Supplemental Indenture above are hereby approved and shall be deemedto becovenants of theCityCouncil, inits capacity asthelegislative body of the District, and shall be complied with by the District and its of?cers.
SECTION 5. The form ofthe Bond PurchaseAgreement presented at this meeting and
the saleof the Bondspursuant theretoare hereby approved, provided that thetrue interestcost on
the Bonds doesnot exceed 5.125% and thediscountatwhich theUnderwriter purchases theBonds (exclusive of original issue discount) doesnot exceed2.00% of the principalamount thereof. Any
one oftheAuthorized Officersishereby authorizedto execute the BondPurchaseAgreement, with
such additions theretoand changes therein as the of?cer executing itmay approve, such approval
to be conclusively evidencedby the execution anddelivery of the Bond Purchase Agreement. Each of theMayor, orher designee, theCityManager, orhisdesignee,theAssistant City Manager,
orher designee, and the Finance Director,or her designee,is authorized to determine the dayon
which theBonds are tobepricedin orderto attempt to produce the lowest borrowing cost forthe District andmay rejectany terms presented by the Underwriterifdeterminednot to be in thebest interest ofthe District.
SECTION 6. Theformofthe Continuing Disclosure Certi?cate presentedat thismeeting
ishereby approved; and any one of the Authorized Of?cers ishereby authorized and directedto
execute the Continuing Disclosure Certi?cate in the formhereby approved, with such additions
therein and changes theretoas the Authorized Of?cer or Authorized Of?cers executing thesame
deemnecessary to cure any defector ambiguity therein if such change does not materially alter
the substanceor content thereof,with suchapprovaltobe conclusively evidencedbytheexecution and delivery of such Continuing Disclosure Certi?cate.
SECTION 7. In accordance with the requirements of Section 53345.8 of the Act, the
legislative body of the District hereby determines that the value of the real property in Improvement Area No. 7Bsubjectto thespecialtax to pay debt service on theBonds isnot less
than three(3) times theprincipalamount of theBonds and the principalamount ofall otherbonds
outstanding thatare securedbyaspecialtax leviedpursuant tothe Act, includingthe ParityBonds,
or a specialassessment leviedon property withinImprovement Area No. 7B. This determination
isbased on theassessedvalue of the realproperty withinImprovement Area 7Bas set forth in the
?scal year 2018-19 CountyAssessor’s roll.
SECTION 8. ThePreliminary Of?cial Statement, in substantiallythe fonn presentedto
this meeting and made a part hereof is hereby approved, with such changes, insertions and
omissions thereinasmay beapprovedbyany ofthe Authorized Of?cers,acting alone, andtheuse
of the Preliminary Of?cial Statement in connection with the offering and sale of the Bonds is hereby authorizedandapproved.The Authorized Of?cers are each hereby authorizedto certifyon
behalf ofthe District that the Preliminary Of?cial Statement is deemed ?nal as ofitsdate, within
the meaning ofRule 15c2-12 (except for the omission ofcertain ?nal pricing, rating and related information aspermittedbyRule 15c2-12).
SECTION 9. The preparation and delivery of
the
Of?cial Statement, and its use inconnection withthe offering and sale of the Bonds is hereby authorizedand approved.TheOf?cial
Statement shall be in substantially the form of the Preliminary Of?cial Statement, with such
changes, insertionsandomissions as may be approvedbyanAuthorized Of?cer, suchapprovalto 3