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RESOLUTION NO. 729 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE APPROVING THE ISSUANCE OF ITS LEASE REVENUE REFUNDING BONDS (STATE OF CALIFORNIA DEPARTMENT OF GENERAL SERVICES PROJECT) 2003 SERIES A (TAX-EXEMPT) AND 2003 SERIES B (TAXABLE), APPROVING A TRUST AGREEMENT, AN 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, the Agency and the Department of General Services of the State of California (the "Department") have entered into the Riverside/State Building Lease, dated as of April 26, 1994, as amended from time to time prior to the date hereof (the "Lease"), pursuant to which the Agency has agreed to lease certain real property and all buildings and improvements existing thereon and all improvements to be made thereto, all as described therein (the "Demised Premises"), to the Department; and WHEREAS, pursuant to the Lease, the Department has agreed to make certain lease payments to the Agency for the use and possession of the Demised Premises; and WHEREAS, to finance the cost of acquisition and construction of improvements to the Demised Premises, the Agency has heretofore issued its $29,115,000 aggregate principal amount Lease Revenue Bonds (State of California Department of General Services Lease) 1994 Series A and 1994 Series B (the "1994 Bonds") pursuant to an Indenture of Trust dated as of September 15, 1994 (the "1994 Indenture") by and between the Agency and First Trust of California, National Association, as trustee (the "1994 Trustee"); and WHEREAS, the Agency proposes to issue its Lease Revenue Refunding Bonds (State of California Department of General Services Project) 2003 Series A (Tax-Exempt) and 2003 Series B (Taxable) in the original aggregate principal amount of $35,000,000 (the "2003 Bonds") to (i) refund and defease the 1994 Bonds; (ii) fund a reserve account; and (iii) pay the costs of issuing the 2003 Bonds; and WHEREAS, there has been presented at this meeting a form of a Trust Agreement (the "2003 Trust Agreement") providing for the issuance of the 2003 Bonds; and WHEREAS, there has been presented at this meeting a form of an Escrow Deposit and Trust Agreement (the "Escrow Agreement") relating to the refunding of the 1994 Bonds; and