2005-58 AUTHORIZING AN INTERGOVERNMENTAL COOPERATION AGREEMENT

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WHEREAS, the Units have determined that it is necessary and desirable to have Aurora and/or any other Unit designated for the purpose (the "Issuers") of issuing such revenue bonds on behalf of all of the Units for the purpose of financing and purchasing mortgage loans to finance single family residences for low and moderate income persons within the corporate boundaries of the Units (the "Program"); and WHEREAS, to provide for the Program, the Issuers propose to issue, sell and deliver their Collateralized Single Family Mortgage Revenue Bonds in one or more series in an aggregate principal amount not to exceed $3,000,000,000 and to issue, sell and deliver any bonds issued to refund such bonds (the "Bonds") on behalf of all of the Units to obtain funds to purchase qualified mortgage loans under the Program (the "Mortgage Loans") and to finance the acquisition of mortgage-backed securities (the "GNMA Securities") of the Government Narional Mortgage Association ("GNMA"), evidencing a guarantee by GNMA of timely payment of, mortgage-backed securities (the "Fannie Mae Securities") of Fannie Mae, evidencing a guaranty by Fannie Mae of timely payment of, and mortgage-backed securities (the "FHLMC Securities") of the Federal Home Loan Mortgage Corporation ("FHLMC"), evidencing a guaranty by FHLMC of rimely payment of, monthly principal of and interest on certain qualified Mortgage Loans under the Program (the "Mortgage Loans"), all under and in accordance with the Consritution and the laws of the State of Illinois; and WHEREAS, 30 Illinois Compiled Statutes 2002, 345/6 et seq., as supplemented and amended, permits the corporate authorities of any home rule unit of government to reallocate its private activity bond allocation to another home rule unit, and to allocate volume cap which has been allocated to it toward the issuance of the Bonds, subject to certain restrictions, guidelines and procedures, which guidelines and procedures also permit units of government (including without limitation non-home rule units of government) to allocate volume cap which has been allocated to it toward the issuance of the Bonds and to pool allocations of volume cap received from the Office of Governor of the State of Illinois; Now, THEREFORE, in consideration of the above premises and of the mutual covenants hereinafter contained and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Units hereby agree, as follows: Section 1. Bonds/Approval. The Issuers (or any of them) hereby agree to issue the Bonds in one or more series on behalf of all of the Units, as provided in the trust indenture or indentures pursuant to which the Bonds will be issued, for the purpose of purchasing Mortgage Loans for single family residences for low and moderate income persons within the corporate boundaries of each Unit, purchasing GNMA Securities, Fannie Mae Securities and FHLMC Securities to finance Mortgage Loans for single family residences for low and moderate income persons within the corporate boundaries of each Unit, paying interest on the Bonds and paying the costs of issuance of the Bonds. The Bonds shall be issued in such aggregate principal amounts, shall be issued in such series and classes, shall have such stated maturity or maturiries, shall bear interest at such rate or rates, payable on such date or dates, shall be subject to redemption prior to maturity, shall be payable at such date or dates and at such place or places, and shall have such other terms, all as shall be agreed upon by the Issuers and approved by ordinances of the respective governing body of each Issuer (or any of them). The proceeds of the -6-