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� <br /> . ' <br /> � � Y <br /> Section 1. That it is the finding and declaration of the Issuer that the sale of the <br /> Mortgage Loans and the provision for the payment of the principal of and interest on the <br /> Prior Bonds through the sale of the Mortgage Loans is advantageous to the Issuer and <br /> therefore serves a valid public purpose. <br /> Section 2. That the Mayor, the Treasurer or the City Clerk of the Issuer be, and <br /> each of them is hereby, authorized, empowered and d'uected to sell the Mortgage Loans <br /> (including without limitation the related mortgage notes, the related mortgages or deeds of <br /> trust and the related assets) to Federal Savings Bank Mortgage of Little Rock (the <br /> "Purchaser") at a purchase price of not less than 102.25% of the aggregate par value of the <br /> Mortgage Loans, such that the proceeds of the sale of the Mortgage Loans, together with the <br /> moneys on deposit in the funds and accounts held under the Prior Indenture, are sufficient, <br /> together with investment income, to provide for the payment of the principal of, premium, <br /> if any, and interest on the Prior Bonds upon redemption prior to maturity in accordance <br /> with the provisions of the Prior Indenture, with any excess moneys from such sale (after the <br /> deduction of expenses associated therewith) to be delivered to the Issuer; that the form, <br /> terms and provisions of the proposed Purchase Contract hereby presented to this meeting <br /> (the "Purchase Contract") be, and they are hereby, in all respects approved; that the Mayor <br /> of the Issuer be, and is hereby, authorized, empowered and directed to execute and <br /> thereupon to cause the Purchase Contract to be delivered to the Purchaser; that the Purchase <br /> Contract is to be in substantially the form presented to and before this meeting and hereby <br /> approved, or with such changes therein as shall be approved by the officer of the Issuer <br /> executing the Purchase Contract, his execution thereof to constitute conclusive evidence of <br /> his approval of any and all changes or revisions therein from the form of Purchase Contract <br /> before this meeting; that from and after the execution and delivery of the Purchase Contract, <br /> the officers, officials, agents and employees of the Issuer are hereby authorized, empowered <br /> and directed to do all such acts and things and to execute all such documents as may be <br /> necessary to carry out and comply with the provisions of the Purchase Contract as executed, <br /> including without limitation the execution of assignments of the Mortgage Loans; and that <br /> the Purchase Contract shall constitute and is hereby made a part of this authorizing <br /> ordinance and a copy of the Purchase Contract shall be placed in the official records of the <br /> Issuer and shall be available for public inspection at the principal office of the Issuer; and <br /> that from and after the sale of the Mortgage Loans, the officers, officials, agents and <br /> employees of the Issuer are hereby authorized, empowered and directed to do all such acts <br /> and things and to execute all such documents as may be necessary to cany out and comply <br /> with such sale of the Mortgage Loans. <br /> Section 3. That the Mayor, the City Treasurer, the City Clerk and the proper <br /> officers, officials, agents and employees of the Issuer are hereby authorized, empowered and <br /> directed to do all such acts and things and to execute all such documents and certificates, <br /> including without limitarion the execution of assignments of the Mortgage Loans, as may be <br /> necessary to carry out and comply with the sale of the Mortgage Loans and the provision for <br /> the payment of the principal of, premium, if any, and interest on the Prior Bonds, and to <br /> further the purposes and intent of this authorizing ordinance, including the preamble hereto. <br /> -2- <br />