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interest rates to be applied to the principal components of lease <br /> payments to be made under the Amended and Restated Lease by and <br /> between the City and Sierra Construction Co. , Inc. Said interest <br /> rates shall be inserted in Exhibit B-1 of the Amended and Restated <br /> Lease, and the resulting dollar amounts of the interest component <br /> of lease payments (based on a 360-day year of 30-day months) and <br /> total lease payments shall be inserted in Exhibit B-2 of the <br /> Amended and Restated Lease. <br /> Section 3 . Findings Regarding Lease Rental. The City <br /> Council finds and determines that the lease rental to be paid under <br /> the Amended and Restated Lease, including principal and interest <br /> components thereof, does not exceed prevailing rents for comparable <br /> space in the Everett metropolitan area. <br /> Section 4 . Approval of Assignment. The City Council <br /> hereby approves the assignment by Sierra Construction Co. , Inc. of <br /> all its right, title and interest in the Improvements (as defined <br /> above) , the Amended and Restated Ground Lease by and between the <br /> City and Sierra Construction Co. , Inc. , and the Amended and <br /> Restated Lease by and between the City and Sierra Construction Co. , <br /> Inc. , to Security Pacific Bank Washington, N.A. , as trustee for the <br /> benefit of the Underwriter and owners of certificates of <br /> participation in the Lease Payments from time to time, in <br /> connection with the lease financing of the Improvements as <br /> contemplated by the Construction Contract and by Ordinance No. <br /> 1858-92 . <br /> 3 <br />