RES FA-22RESOLUTION NO. FA-22
A RESOLUTION OF THE PALM DESERT FINANCING
AUTHORITY AUTHORIZING THE EXECUTION AND
DELIVERY OF A SUPPLEMENTAL INDENTURE AMENDING
A 1992 INDENTURE
WHEREAS, the Palm Desert Financing Authority (the
"Authority") 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
an Indenture of Trust dated as of April 1, 1992 (the "1992
Indenture"); and
WHEREAS, the Authority desires to amend the 1992
Indenture by entering into a Supplemental Indenture in accordance
with the provisions of Section 9.01(B) thereof;
NOW, THEREFORE, the Palm Desert Financing Authority
DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
Section 1. Recitals. The above recitals and each of
them are true and correct.
Section 2. Supplemental Indenture. As presented to
this meeting and on file in the office of the City Clerk, the
form of the First Supplemental Indenture (the "Supplemental
Indenture") by and between 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 Supplemental Indenture and deliver it
to the Trustee 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-22
Section 3. Effective Date. This Resolution shall take
effect upon adoption; provided that it shall not become effective
unless and until MBIA Insurance Corporation shall have given its
written consent to the amendment set forth in the Supplemental
Indenture.
APPROVED AND ADOPTED this 26th day of June, 1997.
AYES: BENSON, SNYDER, SPIEGEL, KELLY
NOES: NONE
ABSENT: CRITES
ABSTAIN: NONE
A TEST:
Sheila R7:- illigan (/Secretary
Richai S. Kelly, P}esident
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