Laserfiche WebLink
4. In accordance with Subdivision 7a of Section 474.01 <br />Minnesota Statutes, the Mayor of the City is hereby authorized <br />and directed to submit the proposal for the Project to the <br />Commissioner of Securities and Real Estate, requesting her ap- <br />proval, and other officers, employees and agents of the City <br />are hereby authorized to provide the Commissioner with such <br />preliminary information as she may require~ <br /> <br /> 5. Company has agreed and it is hereby determined that <br />any and all costs incurred by the City in connection with the <br />financing of the Project whether or not the Project is carried <br />to completion and whether or not approved by the Commissioner <br />will be paid by Company~ <br /> <br /> 6. Briggs and Morgan, Professional Association, acting as <br />bond counsel, and , inves~nent bankers, are <br />authorized to assist in the preparation and review of necessary <br />documents relating to the Project, to consult with the City <br />Attorney, Company and the purchaser of the Revenue Bonds as to <br />the maturities, interest rates and other terms and provisions <br />of the Revenue Bonds and as to the covenants and other <br />provisions of the necessary documents and to submit such <br />documents to the Council for final approval; <br /> <br /> 7. Nothing in this resolution or in the documents pre- <br />pared pursuant hereto shall authorize the expenditure of any <br />municipal funds on the Project other than the revenues derived <br />from the Project or otherwise granted to the City for this <br />purpose. The Revenue Bonds shall not constitute a charge, lien <br />or encumbrance, legal or equitable, upon any property or funds <br />of the City except the revenue and proceeds pledged to the <br />payment thereof, nor shall the City be subject to any liability <br />thereon. The holder of the Revenue Bonds shall never have the <br />right to compel any exercise of the taxing power of the City to <br />pay the outstanding principal on the Revenue Bonds or the <br />interest thereon, or to enforce payment thereof against any <br />property of the City. The Revenue Bonds shall recite in <br />substance that the Revenue Bonds, including interest thereon, <br />is payable solely from the revenue and proceeds pledged to the <br />payment ~ereof. The Revenue Bonds shall not constitute a debt <br />of the City within the meaning of any constitutional or <br />statutory limitation; <br /> <br /> 8. In anticipation of the approval by the Commissioner of <br />Securities and Real Estate and the issuance of the Revenue <br />Bonds to finance all or a portion of the Project, and in order <br />that completion of the Project will not be unduly delayed when <br /> <br /> <br />