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that will accrue to the Successor Agency and to applicable taxing entities as a result of the use of the proceeds of the Refunding Bonds to defease and refund all or a portion of the Prior Bonds (the "Financial Advisor Work Product"); WHEREAS, on the date hereof, this Successor Agency Board held a public hearing, following notice published in The Press-Enterprise at least 15 days prior to the date hereof, at which all interested persons were afforded the opportunity to be heard on the subject of the issuance of the Refunding Bonds; WHEREAS, the Successor Agency wishes at this time to approve the issuance of the following bonds (the "Refunding Bonds"): (a) Successor Agency to the Redevelopment Agency of the City of Riverside 2014 Subordinate Tax Allocation Refunding Bonds, Series A(the"2014A Bonds") (b) Successor Agency to the Redevelopment Agency of the City of Riverside 2014 Subordinate Tax Allocation Refunding Bonds, Taxable Series B (the "2014B Bonds";together with the 2014A Bonds,the "2014 Bonds"); WHEREAS,the Successor Agency further wishes at this time to approve the form of and authorize the execution and delivery of the Indenture of Trust, by and between the Successor Agency and U.S. Bank National Association, as trustee (the "Trustee"), providing for the issuance of the 2014A Bonds (the "2014A Indenture"), a First Supplement to Indenture of Trust, by and between the Successor Agency and the Trustee, providing for the issuance of the 2014B Bonds (the "2014B Supplement"; together with the 2014A Indenture, the "Indenture"), and separate Escrow Deposit and Trust Agreements, by and between the Successor Agency and the trustee for the Prior Bonds, for each series of Prior Bonds to be refunded(collectively, the "Escrow Agreement"); WHEREAS, pursuant to Section 34179 of the Dissolution Act, an oversight board (the "Oversight Board")has been established for the Successor Agency; WHEREAS, the Successor Agency wishes to request that the Oversight Board approve and direct the issuance of the Refunding Bonds pursuant to this Resolution and the Indenture; WHEREAS, the Successor Agency further wishes to request that the Oversight Board make certain determinations described below on which the Successor Agency will rely in undertaking the refunding proceedings and the issuance of the Refunding Bonds; WHEREAS, the Agency has determined to sell the Refunding Bonds to Stifel, Nicolaus & Company, Incorporated (the "Underwriter"), pursuant to a Bond Purchase Agreement (the "Bond Purchase Agreement"); WHEREAS, following approval by the Oversight Board of the issuance of the Refunding Bonds by the Successor Agency and upon submission of the Oversight Board Resolution to the California Department of Finance, the Successor Agency will, with the assistance of its A-2