Resolution - #12-05-064 - 05/08/2012

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Lease), and deposit funds sufficient to defease the outstanding Prior Bonds as provided in the Escrow Agreement. As provided in the Lease, the City hereby determines and declares that upon the issuance of the Bonds and the funding of the Escrow Account, the Lease and Ground Lease Agreement between the City and EDA, dated as of June 1, 2005, shall be terminated and the EDA shall have no further right, title and /or interest in and to the Facilities. 29. Official Statement. The Official Statement relating to the Bonds prepared and distributed by the Purchaser is hereby approved and the officers of the City are authorized in connection with the delivery of the Bonds to sign such certificates as may be necessary with respect to the completeness and accuracy of the Official Statement. 30. Governmental Bonds Post - Issuance Compliance Policies and Procedures. The City hereby approves the Governmental Bonds Post - Issuance Compliance Policies and Procedures in substantially the form presented to the City Council. 31. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 32. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember McGlone; and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: Mayor Ramsey Councilmember Wise Councilmember McGlone Councilmember Backous Councilmember Strommen Councilmember Tossey and the following voted against the same: None Whereupon the resolution was declared duly passed and adopted. 4546551v1