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FAIRFIELD PUBLIC FINANCING AUTHORITY RESOLUTION NO. FPFA- Z_��— RESOLUTION OF THE FAIRFIELD PUBLIC FINANCING AUTHORITY AUTHORIZING THE PURCHASE AND SALE OF THE FAIRFIELD REDEVELOPMENT AGENCY NORTH TEXAS STREET PROJECT TAX ALLOCATION BONDS, SERIES 2011 (FEDERALLY TAXABLE�, UPON CERTAIN TERMS AND CONDITIONS, AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO WHEREAS, the City of Fairfield (the "City") and the FairField Redevelopment Agency entered into a Joint Exercise of Powers Agreement, dated as of February 1, 1989 (the "Agreement"), creating the Fairfield Public Financing Authority (the "Authority"); and WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the "Act') and the Agreement, the Authority is authorized to purchase bonds issued by the Agency and is further authorized to sell bonds so purchased to public or private purchasers at public or negotiated sale; and WHEREAS, the Agency is authorized pursuant to the Community Redevelopment Law, being Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California to issue its tax allocation bonds for the purpose of financing and refinancing redevelopment activities with respect to its North Texas Street Project (the "Redevelopment Project"); and WHEREAS, for the purpose of financing redevelopment activities with respect to its Redevelopment Project, the Agency proposes to issue its not to exceed $8,500,000 aggregate principal amount of Fairfield Redevelopment Agency North Texas Street Project Tax Allocation Bonds, Series 2011 (Federally Taxable) (the "Bonds") pursuant to the provisions of an Indenture of Trust, dated as of February 1, 2011; and WHEREAS, the Authority desires to purchase the Bonds from the Agency solely from the proceeds received from the Authority's concurrent sale of the Bonds to Stone Youngberg LLC (the "Underwriter").