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ATTACHMENT 1, EXHIBIT C <br /> RESOLUTION NO. <br /> RESOLUTION APPROVING, AUTHORIZING AND DIRECTING <br /> EXECUTION OF A JOINT EXERCISE OF POWERS AGREEMENT <br /> RELATING TO THE CSCDA COMMUNITY IMPROVEMENT <br /> AUTHORITY,AND THE FORM OF A PUBLIC BENEFIT AGREEMENT; <br /> AND APPROVING THE ISSUANCE OF REVENUE BONDS BY THE <br /> AUTHORITY FOR THE PURPOSE OF FINANCING THE ACQUISITION, <br /> CONSTRUCTION OR IMPROVEMENT OF PROJECTS <br /> WHEREAS,pursuant to Chapter 5 of Division 7 of Title 1 of the Government Code of the <br /> State of California(the"Act"),certain public agencies (the"Members")have entered into a Joint <br /> Exercise of Powers Agreement Relating to the CSCDA Community Improvement Authority,dated <br /> as of October 15,2020(the"Agreement"),in order to form the CSCDA Community Improvement <br /> Authority (the "Authority"), for the purpose of promoting economic, cultural and community <br /> development,and in order to exercise any powers common to the Members or granted by the Act, <br /> including by the issuance of bonds,notes or other evidences of indebtedness; and <br /> WHEREAS, the City of [ (the "City"), has determined that it is in the <br /> public interest and for the public benefit that the City become an Additional Member of the <br /> Authority pursuant to Section 12 of the Agreement in order to facilitate the promotion of economic, <br /> cultural and community development activities in the City, including the financing of projects <br /> therefor by the Authority; and <br /> WHEREAS, the Agreement has been filed with the City, and the members of the City <br /> Council of the City (the "City Council"), with the assistance of its staff, have reviewed said <br /> document; and <br /> WHEREAS, the Authority is authorized to issue and sell revenue bonds for the purpose, <br /> among others,of financing or refinancing the construction,acquisition and rehabilitation of capital <br /> projects; and <br /> WHEREAS, among projects that may be financed by the Authority, the Authority <br /> proposes to issue from time to time its governmental purpose revenue bonds (the "Bonds") to <br /> finance the acquisition,construction,development and certain related costs of multifamily housing <br /> developments within the City(each, a"Project"); and <br /> WHEREAS, the Authority proposes to grant to the City in connection with the financing <br /> of any middle-income rental housing Project("Workforce Housing Project")the right to cause the <br /> Authority to sell such Project, starting upon the date fifteen (15) years from the issuance of the <br /> Bonds pursuant to a Public Benefit Agreement(the"Public Benefit Agreement"), by and between <br /> the Authority and the City, the form of which has been filed with the City Council; and <br /> WHEREAS, it is in the public interest and for the public benefit that the City Council <br /> approve the issuance of the Bonds by the Authority for the aforesaid purposes; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL, AS <br /> FOLLOWS: <br /> OHSUSA:757692504.2 <br />