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to availability of units in the Development for <br />occupancy by persons of low or moderate income. <br />Subject to final approval by the City Council, the <br />Mayor, City Manager and other officers of the City <br />are hereby authorized and directed, for and in the <br />name and on behalf of the City, to take all <br />necessary actions to finance the Development, includ- <br />ing 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 <br /> the Bonds to finance the DeveloDment within the <br /> meaning of Section 1.103-8(a)(5) of the Treasury <br /> Regulations promulgated under Section 103 of the <br /> Internal Revenue Code of 1954, as amended. <br /> <br />Section 3: Orrick, Herrington & Sutcliffe, A Professional <br /> Corporation, San Francisco, California, is hereby <br /> selected and designated as bond counsel for the <br /> City, and Stone & YounKberg is hereby selected and <br /> designated as investment banker for the City, in <br /> connection with the proposed 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 <br /> the name and on behalf of the City, to take all actions <br /> and to sign all documents necessary or desirable to <br /> effectuate the purposes of this resolution. <br /> <br />Section 5: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED NOVEMBER 8, 1983 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers Brandes, Mercer, Mohr, Wood and <br /> Mayor Butler <br />NOES: None <br />ABSENT: None <br /> <br /> Y~ r r <br />By Doris George, Deputy City Clerk <br /> <br />APPROVED AS TO FORM: <br />Peter D. MacDonal(d,~i'~v Attorney <br /> <br /> <br />