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or moderate income. Subject to final approval by the <br /> City Council, the Mayor, the City Manager and other <br /> officers of the City are hereby authorized and directed, <br /> for and in the name and on behalf of the City, to take <br /> all necessary actions to finance the Development, <br /> including the actions necessary for the issuance of the <br /> Bonds. <br /> <br />Section 2. It is intended that this resolution shall constitute <br /> "some other official action" toward the issuance of the <br /> Bonds to finance the Development within the meaning of <br /> Section 1,103-8(a)(5) of the Treasury Regulations <br /> promulgated under Section 103 of the Internal Revenue <br /> Code of 1954, as amended. <br /> <br />Section 3. Orrick, Herrington & Sutcliffe, San Francisco, <br /> California, is hereby selected and designated as bond <br /> counsel for the City in connection with the proposed <br /> issuance of the Bonds. <br /> <br />Section 4. The Mayor, City Manager and other officers of the <br /> City are hereby authorized and directed, for and in the <br /> name and on behalf of the City, to take all actions and <br /> to sign all documents necessary or desirable to <br /> effectuate the purposes of this resolution. <br /> <br />Section 5. Nothing herein contained shall be deemed to create <br /> any liability on the part of the City if the City, in <br /> its sole discretion, determines at any time and for any <br /> reason not to issue such Bonds or to finance the <br /> Development. <br /> <br />Section 6. This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED DECEMBER 3, 1985 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Butler, Mercer, Mohr, and Wood <br />NOES: Mayor Brandes <br /> <br />ABSTAIN: None · <br /> <br />ATTEST: <br /> F . , ., R <br /> <br />Peter D. MacDonald, City Attorney <br /> <br /> <br />