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RESOLUTION NO. 818 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AUTHORIZING THE ISSUANCE OF TWO ISSUES OF AGENCY BONDS IN THE AGGREGATE AMOUNT NOT TO EXCEED $30,000,000 AND THE SALE THEREOF TO THE RIVERSIDE PUBLIC FINANCING AUTHORITY FOR THE PURPOSE OF FINANCING REDEVELOPMENT ACTIVITIES, APPROVING AN OFFICIAL STATEMENT, AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO. WHEREAS, the Redevelopment Agency of the City of Riverside (the "Agency") has adopted redevelopment plans for its Downtown! Airport Merged Redevelopment Project Area, and its Casa Blanca Redevelopment Project Area (collectively, the "Redevelopment Projects") under Part 1 of Division 24 of the Health and Safety Code of the State of California (the "Redevelopment Law"); and WHEREAS, the Redevelopment Law, and particularly Chapter 6 thereof, authorizes redevelopment agencies to incur indebtedness for any of their corporate purposes; and WHEREAS, the Agency desires to issue two (2) separate issues of bonds, each consisting of two series (as further described herein, the "Agency Bonds") in order to obtain funds to finance redevelopment activities with respect to the Redevelopment Projects, and the Riverside Public Financing Authority (the "Authority") has determined to issue its Riverside Public Financing Authority 2007 Series A Tax Allocation Revenue Bonds (Downtown! Airport Merged Redevelopment Project and Casa Blanca Redevelopment Project) (Tax-Exempt) (the "2007 Series A Authority Bonds"), and its Riverside Public Financing Authority 2007 Series B Tax Allocation Revenue Bonds (Downtown! Airport Merged Redevelopment Project and Casa Blanca Redevelopment Project) (Taxable) (the "2007 Series B Authority Bonds" and together with the 2007 Series A Authority Bonds, the "2007 Authority Bonds") in the combined not to exceed aggregate principal amount of $30,000,000 to provide funds to purchase the Agency Bonds; WHEREAS, Stone & Youngberg LLC has agreed to purchase the 2007 Authority Bonds in accordance with the bond purchase agreement in form on file with the Secretary (the "Purchase Contract"), and, in connection with the offering of the 2007 Authority Bonds, the Authority and the Agency have caused to be prepared an Official Statement describing the 2007 Authority Bonds and the Agency Bonds, (the "Official Statement") the preliminary form of which is on file with the Secretary; and WHEREAS, the Agency, with the aid of its staff, has reviewed the Official Statement, and the Agency wishes at this time to approve such documents in the public interests of the Agency; WHEREAS, all conditions, things and acts required to exist, to have happened and to have been performed precedent to and in the issuance of the Agency Bonds, as contemplated by this resolution and the documents referred to herein exist, have happened and have been performed in due time, form and manner as required by the laws of the State of California, including the Redevelopment Law. RVPUB\FBAUM\727519.1 1