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December 1, 1988 (herein called the "Facility Lease"), pursuant <br />to which the Corporation will lease the Facility to the City; <br /> <br /> WHEREAS, under the Facility Lease, the City would be <br />obligated to make base rental payments to the Corporation for <br />the lease of the Facility; <br /> <br /> WHEREAS, it is proposed that all rights to receive <br />such base rental payments (together with the additional rental <br />payments provided for in the Facility Lease) will be assigned <br />without recourse by the Corporation to a trustee pursuant to an <br />agreement, entitled "As °g ent Agreement" and tentatively <br />dated as of December 1, 1988; <br /> <br /> WHEREAS, it is further proposed that the Corporation, <br />the City and Bank of America National Trust and Savings <br />Association, as trustee (herein called the "Trustee"), shall <br />enter into an agreement, entitled "Trust Agreement" and <br />tentatively dated as of December 1, 1988 (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 amount equal to the <br />aggregate principal components of such base rental payments, <br />each evidencing and representing a fractional undivided <br />interest in such base rental payments, and will use the <br />proceeds to finance the acquisition, construction and financing <br />of a corporation yard (the "Project") and to refund the <br />Corporation's Bonds of Series A, dated September 1, 1982 (the <br />"1982 Bonds"); <br /> <br /> 3 <br />6292S <br /> <br /> <br />