RES 87418 - Laserfiche WebLink

required for the valid authorization, execution and delivery of the Legal Documents and the approval of the Official Statement or the consummation by the City of the transactions contemplated herein and in the Official Statement, except such as have been obtained and except such as may be required under state securities or blue sky laws in connection with the purchase and distribution of the Certificates by the Underwriter; (4) the favorable opinion of the counsel to the Lessor, dated the date of Closing, and addressed to the City and the Underwriter, in form and substance satisfactory to the Underwriter to the effect: (i) the Lessor is a nonprofit public benefit corporation duly organized, validly existing and in good standing under the laws of the State of California; (ii) the Lessor has full legal power and adequate corporate authority to enter into the Legal Documents and the Assignment Agreement and the full legal power and authority to own its properties and to carry on its business~ (iii) the Legal Documents and the Assignment Agreement have been validly authorized, executed and delivered by the Lessor and, assuming due authorization, execution and delivery by the other parties thereto, constitute legal, valid and binding agreements of the Lessor, enforceable in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting enforcement of creditors' rights and by the application of equitable principles if equitable remedies are sought; (iv) no consent, approval, authorization or order of any court, regulatory authority or governmental body is required for the valid authorization, execution and delivery of the Legal Documents or the Assignment Agreement or the consummation by the Lessor of the transactions contemplated herein and in the Official Statement except such as have been obtained and except such as may be required under the state securities or blue sky laws in 1739030/2