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16049 JH:WHM 10/20/11 11/3/11 FAIRFIELD PUBLIC FINANCING AUTHORITY RESOLUTION NO. 2011- t)2. RESOLUTION APPROVING THE REFUNDING OF 1998 REVENUE BONDS RELATING TO MUNICIPAL PARK IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF FAIRFIELD, AND AUTHORIZING AND DIRECTING EXECUTION OF RELATED DOCUMENTS AND AUTHORIZING RELATED OFFICIAL ACTIONS WHEREAS, the City of Fairfield (the "City and the Fairfield Redevelopment Agency (the "Agency entered into a Joint Exercise of Powers Agreement dated as of February 1, 1989 (the "Agreement establishing the Fairfield Public Financing Authority (the "Authority for the purpose of issuing its bonds to be used to provide financial assistance to the City and the Agency; and WHEREAS, all the requirements of law have been complied with in calling and holding the special district election held in the Municipal Park Improvement District No. 1 of the City of Fairfield (herein called "District on August 29, 1972, at which election the proposition of issuing bonds in the principal sum of $15,000,000 for the objects and purposes hereafter stated was submitted to the voters of the District pursuant to Article 6, commencing with Section 5350, of Chapter 2, Division 5 of the Public Resources Code of the State of California; the City Council did duly and regularly canvass the returns of said election, and did count the votes cast for and against the proposition, and did as a result of said canvass, determine and declare, and does hereby certify, that said proposition received at said special district election the affirmative vote of more than two- thirds of all the voters voting at the election, and the proposition was thereby carried and adopted, and the issuance of all of the bonds was duly authorized; WHEREAS, the City issued 1998 Refunding Bonds (the "1998 MPID Bonds in a principal amount of $17,415,000 pursuant to Resolution 98 -60 adopted on April 7, 1998; WHEREAS, the City has determined to refund the 1998 MPID Bonds by issuing 2011 Refunding Bonds (Municipal Park Improvement District No. 1) in a principal amount not -to- exceed $9,300,000 (the "2011 MPID Bonds WHEREAS, the refunding of the 1998 MPID Bonds will cause the refunding of a like principal amount of the Authority's 1998 Revenue Bonds, Series A (Municipal Park Improvement District No. 1 of the City of Fairfield, and Lynch Canyon Open Space Lease Agreement) (the "Authority 1998 Revenue Bonds WHEREAS, the Board has duly considered such transactions and wishes at this time to approve said transactions hi the public interests of the Authority; NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the Board of Directors of the Fairfield Public Financing Authority as follows: