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08
City of Pleasanton
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10/14/2009 2:52:48 PM
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10/14/2009 2:52:45 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
10/20/2009
DESTRUCT DATE
15 Y
DOCUMENT NO
08
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Attachment 2 <br /> EXHIBIT D <br /> IRREVOCABLE INSTRUCTIONS TO CONTROLLER <br /> IRREVOCABLE INSTRUCTIONS FOR DISBURSEMENT <br /> OF PROPOSITION IA RECEIVABLE OF <br /> CITY OF PLEASANTON <br /> Dated: Closing Date <br /> Office of the Controller <br /> State of California <br /> P.O. Box 942850 <br /> Sacramento, California 94250 -5872 <br /> Re: Notice of Sale of Proposition IA Receivable by the City of Pleasanton <br /> and Wiring Instructions Information Form <br /> Dear Sir or Madam: <br /> Pursuant to Section 6588.6(c) of the California Government Code, City of <br /> Pleasanton (the "Seller hereby notifies you of the sale by Seller, effective as of the date of <br /> these instructions written above, of all right, title and interest of the Seller in and to the <br /> "Proposition IA Receivable" as defined in Section 6585(g) of the California Government Code <br /> (the "Proposition IA Receivable namely, the right to payment of moneys due or to become <br /> due to the Seller pursuant to Section 25.5(a)(1)(B)(iii) of Article XIII of the California <br /> Constitution and Section 100.06 of the California Revenue and Taxation Code. <br /> By resolution, the Seller's City Council authorized the sale of the Proposition IA <br /> Receivable to the California Statewide Communities Development Authority (the "Purchaser <br /> pursuant to a Purchase and Sale Agreement, dated as of November 1, 2009 (the "Purchase and <br /> Sale Agreement and a Bill of Sale, dated the Closing Date (as defined in the Purchase and Sale <br /> Agreement). The Proposition 1 A Receivable has been pledged and assigned by the Purchaser <br /> pursuant to an Indenture, dated as of November 1, 2009 (the "Indenture between the Purchaser <br /> and Wells Fargo Bank, National Association, as Trustee (the "Trustee <br /> The Seller hereby irrevocably requests and directs that, commencing as of the <br /> date of these instructions written above, all payments of the Proposition IA Receivable (and <br /> documentation related thereto) be made directly to Wells Fargo Bank, National Association, as <br /> Trustee, in accordance with the wire instructions and bank routing information set forth below. <br /> Please note that the sale of the Proposition L4 Receivable by the Seller is <br /> irrevocable and that: (i) the Seller has no power to revoke or amend these instructions at any <br /> time; (ii) the Purchaser shall have the power to revoke or amend these instructions only if <br /> there are no notes of the Purchaser outstanding under the Indenture and the Indenture has <br /> been discharged; and (iii) so long as the Indenture has not been discharged, these instructions <br /> cannot be revoked or amended by the Purchaser without the consent of the Trustee. Should <br /> D -I <br />
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