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RESOLUTION NO. 728 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE APPROVING THE ISSUANCE OF ITS MERGED PROJECT TAX ALLOCATION AND REFUNDING BONDS, SERIES 2003, APPROVING AN INDENTURE, ESCROW AGREEMENT, AN OFFICIAL STATEMENT AND A PURCHASE CONTRACT, AUTHORIZING THE EXECUTIVE DIRECTOR OR FINANCE DIRECTOR TO SET THE FINAL TERMS OF THE SALE OF THE BONDS AND MAKING CERTAIN DETERMINATIONS RELATING THERETO WHEREAS, the Redevelopment Agency of the City of Riverside (the "Agency") is a redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law, being Section 33000 and following of the Health and Safety Code of the State of California, and the powers of the Agency include the power to issue bonds for any of its corporate purposes; and WHEREAS, a redevelopment plan for a redevelopment project known as the Merged Project (the "Project") has been adopted and approved and all requirements of the law for, and precedent to, the adoption and approval of said plan have been duly complied with; and WHEREAS, the Agency has heretofore issued its $31,600,000 aggregate principal amount Tax Allocation Refunding Bonds (Merged Project), 1993 Series A (the "1993 Bonds"), pursuant to an Indenture (the "1993 Indenture") between the Agency and Bank of America National Trust and Savings Association, as trustee and dated as of February 1, 1993; and WHEREAS, the Agency proposes to issue not to exceed $42,000,000 aggregate principal amount of its Merged Project Tax Allocation and Refunding Bonds, Series 2003 (the "2003 Bonds"), the proceeds of which will be used (i) to refund and redeem the outstanding 1993 Bonds and (ii) to provide for additional financing for the Project, with the repayment of which 2003 Bonds being secured and repaid from tax increment revenues from the Project; and WHEREAS, there has been presented at this meeting a form of a Trust Indenture (the "2003 Indenture") providing for the issuance of the 2003 Bonds; and WHEREAS, there has been presented to this meeting a form of Preliminary Official Statement relating to the 2003 Bonds and a form of Pumhase Contract among the Agency, the Riverside Public Financing Authority (the "Authority") and UBS PaineWebber Inc., the underwriter for the 2003 Bonds (the "Underwriter") pursuant to which the Authority has offered to purchase the 2003 Bonds from the Agency and the Underwriter has offered to purchase the 2003 Bonds from the Authority, all on the terms and conditions set forth therein; and WHEREAS, the Agency is authorized to cat, se the 2003 Bonds to be sold on a negotiated basis pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the California Government Code; RVPLrB~jB~650290