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the Project as herein authorized (the "Financing" ) , through the <br /> issuance of certificates of participation ( "COP' s" ) , in order <br /> that the Hospital may contain costs in connection with the <br /> Project, which cost containment will inure to the benefit of <br /> the residents of the City; and <br /> WHEREAS, the legal obligations of the City in connection <br /> with the Financing would be limited to revenues received by the <br /> City from the Hospital pursuant to the Financing; and <br /> WHEREAS, the Hospital has selected L.F. Rothschild & Co . , <br /> Incorporated, San Francisco, California ( "Rothschild" ) , as the <br /> senior managing underwriter for the Financing; and <br /> WHEREAS, the Hospital has selected Brown & Wood, San <br /> Francisco, California, as special counsel for the Financing; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the <br /> City, as follows : <br /> Section 1 . The City Council of the City hereby finds and <br /> determines that it is for the common benefit of the City and <br /> its residents and it is necessary and proper for municipal <br /> purposes within the terms of the Act that the City assist. the <br /> Hospital in the Financing in the manner hereinafter in this <br /> Resolution provided in order to provide essential health care <br /> services and facilities to the residents of the City, and to <br /> aid in containing costs for such health care services and <br /> facilities and thereby enable the Hospital to establish lower <br /> rates and charges than would otherwise prevail and to provide <br /> 2 <br /> 2963001/7 <br />