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DESIGNATION OF QUALIFICATION 096-112-AF <br />This designation by the CITY OF SANTA ANA (the "Lessee") as lessee is <br />issued pursuant to that certain Lease with Option to Purchase <br />agreement' dated July 1, 1996 (the "Lease") for the financing of <br />governmental use property. <br />The Lessee hereby designates the Lease as a qualified tax-exempt <br />obligation pursuant to Section 265(b) of the Internal Revenue Code of <br />1986 and the Lessee agrees that it will not designate more than <br />$10,000,000 of qualified tax-exempt obligations during calendar year <br />1996 pursuant to Section 265(b)(3)(D) of the Code. <br />Further, the Lessee represents that the Lessee reasonably expects that <br />the aggregate principal amount of all tax-exempt obligations issued by <br />the Lessee and its subordinate entities will not exceed $10,000,000 <br />for all of calendar year 1996. <br />CITY OF SANTA ANA <br />ess <br />By <br />XECiJT D RECTOR, <br />Title FINAN E MANAGEMENT SVCS. <br />Date <br />This designation was submitted to and approved by the Lessee's <br />governing body at a meeting duly held on July 1, 1996. <br />.fiy:. <br />