Resolution 2420

Providing for the issuance and sale of second lien revenue warrants of the port district in the aggregate principal amount of $10,000,000 for the purpose of providing part of the money to acquire, construct, install, equip and make certain improvements to the facilities of the district as authorized by its comprehensive scheme of harbor improvement, as amended; providing the date, form, terms and maturities of said warrants; providing that such warrants be issued on a parity with certain second lien revenue bonds and revenue warrants of the port district; providing for the payment of the principal of and interest on said warrants out of the Second Lien Revenue Bond Redemption Fund of the port district created by Resolution No. 2363 of the Port Commission; providing and adopting certain covenants safeguarding the payment of such principal and interest; and confirming the sale of such warrants.