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shall enter into an agreement, entitled'"Trust Agreement" and <br />tentatively dated as of September 1, 1989 (herein called the <br />"Trust Agreement"), pursuant to which the Trustee will execute <br />and deliver certificates of participation (herein called the <br />"Certificates of Participation") in an aggregate principal <br />amount of $4,990,000, each evidencing and representing a <br />fractional undivided interest in such revenue payments, and <br />will use the proceeds to finance the acquisition, construction <br />and financing of the Project; <br /> <br /> WHEREAS, the official notice of sale and official <br />statement describing the Certificates of Participation have <br />been mailed to prospective purchasers of the Certificates of <br />Participation and bids for the Certificates of Participation <br />were received at 10:00 A.M. on August 15, 1989; <br /> <br /> WHEREAS, the City wishes to award the purchase of <br />the Certificates of Participation to the bidder bidding the <br />lowest new interest cost to the City; <br /> <br /> WHEREAS, the City has full legal right, power and <br />authority under the Constitution and the laws of the State of <br />California to enter into the transactions hereinafter <br />authorized; <br /> <br /> WHEREAS, there is on file with the City Clerk the <br />form of each document referred to herein, relating to such <br />financing of the Project; and <br /> <br /> WHEREAS, all acts, conditions and things required by <br />the Constitution and laws of the State of California to exist, <br /> <br /> <br />