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RESOLUTION NO. 656 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AUTHORIZING THE SALE AND ISSUANCE OF TAX ALLOCATION BONDS, AND APPOINTING A TRUSTEE AND ESCROW AGENT AND AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS IN CONNECTION THEREWITH Recitals A. The Redevetopment Agency of the City of Riverside (the "Agency") is a redevelopment agency, a public body, corporate and politic, duly created, established and authorized to transact business and exercise its powers,'all under and pursuant to the Community Redevelopment Law of the State of California (Part 1 of Division 24 of the Health and Safety Code), and the powers of the Agency include the power to issue bonds, notes, interim certificates, debentures or other obligations for any of its corporate purposes. B. Redevelopment Plans for the Casa Blanca Redevelopment Project and the University Corridor/Sycamore Canyon Merged Redevelopment Project have been duly approved and adopted by the City of Riverside, and all requirements of law for and precedent to the adoption and approval of such Redevelopment Plans have been duly complied with. C. Pursuant to an Indenture dated as of February 1, 1993 by and between the Agency and Bank of America National Trust and Savings Association as trustee, the Agency issued its Redevelopment Agency of the City of Riverside Tax Allocation Refunding Bonds (Casa Blanca Redevelopment Project) 1993 Series A the "1993 Bonds"). D. The Agency deems it necessary and desirable to issue bonds for the purpose of refunding the 1993 Bonds and financing additional costs of the Casa Blanca Redevelopment Project. To accomplish such purpose the Agency has determined to issue its Redevelopment Agency of the City of Riverside, Tax Allocation Bonds, 1999 Series A (Casa Blanca Redevetopment Project) (the "1999 Casa Blanca Bonds"), all pursuant to and secured by an Indenture (the "Casa Blanca Indenture") as defined herein. E. Pursuant to certain Loan Agreements dated as of February 1, 1988 and June 1, 1991, between the Agency and the Riverside Public Financing Authority (the "Authority"), an Indenture of Trust dated as of February 1, 1988 by and between the Authority and Security Pacific National Bank as trustee, and a Trust Agreement dated as of June 1, 1991 by and between the Authority and Security Pacific National Bank as trustee, the 990309 11304-00002 SyC 1113828 9