2000-15 AUTHORIZING AN INTERGOVERNMENTAL COOPERATION AGREEMENT

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provide for the joint issuance of such revenue bonds to aid in providing an adequate supply of residential housing in such Municipalities (the "Program"); and WHEREAS, to provide for the Program, the City of Aurora, Kane, DuPage, Will and Kendall Counties, Illinois (the "Issuer") proposes to issue, sell and deliver its Collateralized Single Family Mortgage Revenue Bonds, Series 2000 in an aggregate principal amount not to exceed $150,000,000 (the "Bonds") in one or more series to obtain funds to finance the acquisition of mortgage-backed securities (the "GNMA Securities") of the Govemment National Mortgage Association ("GNMA"), evidencing a guarantee by GNMA of timely payment, the acquisition of mortgage-backed securities (the "FNMA Securities") of the Federal National Mortgage Association ("FNMA"), evidencing a guazantee by FNMA of timely payment, and the acquisition of mortgage-backed securities (the "FHLMC Securities") of the Federal Home Loan Mortgage Corporation ("FHLMC"), evidencing a guazantee by FHLMC of timely payment, of monthly principal of and interest on certain qualified mortgage loans under the Program (the "Mortgage Loans"), on behalf of the Municipality and the other Municipalities all under and in accordance with the Constitution and the laws of the State of Illinois; and WHEREAS, the City Clerk of the Municipality has caused a notice of public hearing with respect to the plan of finance of the costs of the Program through the issuance of the Bonds to be published in Herald and Review, a newspaper of general circulation in the Municipality, pursuant to Section 147(fl of the Internal Revenue Code of 1986, as amended (the "Code"), on March 2, 2000, and an appropriately designated hearing officer of the City of Champaign, Champaign County,Illinois,Illinois,has conducted said public hearing on March 20, 2000; and WHEREAS, a form of the Cooperation Agreement has been presented to and is before this meeting; -2-