RES FA-21RESOLUTION NO. FA-21
A RESOLUTION OF THE PALM DESERT FINANCING
_ AUTHORITY AUTHORIZING THE EXECUTION AND
DELIVERY OF AN AGREEMENT AMENDING A 1995 LOAN
AGREEMENT
WHEREAS, the Palm Desert Financing Authority (the
"Authority"), the Palm Desert Redevelopment Agency (the "Agency")
and Bank of America National Trust and Savings Association, as
predecessor trustee to First Trust of California, National
Association (the "Trustee") have heretofore entered into a
Project No. 1, As Amended, Loan Agreement dated as of June l,
1995 (the "1995 Loan Agreement"?; and
WHEREAS, the Authority desires to amend the 1995 Loan
Agreement in accordance with the provisions of Section 6.04
thereof and Section 5.08(b) of the Indenture of Trust dated as of
June l, 1995 by and between the Authority and Bank of America
National Trust and Savings Association, as predecessor to the
Trustee;
NOW, THEREFORE, the Palm Desert Financing Authority
� DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section l. Recitals. The above recitals and each of
them are true and correct.
Section 2. �areement Amending 1995 Loan Agreement. As
presented to this meeting and on file in the office of the City
Clerk, the form of the Agreement Amending 1995 Loan Agreement
(the "Amendment"? by and among the Agency, the Trustee and the
Authority is hereby approved and the President, the Chief
Administrative Officer, the Treasurer, the Secretary, any deputy
of such officers, or any member of the Authority Commission, is
hereby authorized and directed, for and in the name and on behalf
of the Authority, to execute the Amendment and deliver it to the
Trustee and the Agency in substantially the form hereby approved,
with such changes therein as the officer executing the same may
approve, such approval to be conclusively evidenced by his
execution and delivery thereof.
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RESOLUTION NO. FA-21
Section 3. Effective Date. This Resolution shall take
effect immediately upon adoption.
APPROVED AND ADOPTED this 26th day of June, 1997.
AYES: BENSON, SNYDER, SPIEGEL, KELLY
NOES: NONE
ABSENT: CRITES
ABSTAIN: NONE
AT�'E . , �
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SHEILA R. G� LIGAN, � cretary
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