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(j) all acts and things required under the Consti <br />tution and the laws of the State of Minnesota to make <br />the Note, the Agreement and' the Pledge Agreement the <br />valid and binding obligations of the Issuer in accor- <br />dance with their terms shall have been done upon <br />adoption of this Resolution and execution of the Note, <br />the Agreement and the Pledge Agreement; provided that <br />this finding is made solely for the purpose of estopping <br />the Issuer from denying the validity of the Note, the <br />Agreement or the Pledge Agreement by reason of the exis- <br />tence of any facts contrary to this finding; and <br /> <br /> (k) the Issuer is a municipal' corporation and <br />political subdivision of the State of Minnesota, duly <br />organized and existing under the Constitution and the <br />laws of the State of Minnesota, and is authorized to <br />issue the Note in accordance with the Act. <br /> <br />Section 3. Authorization and Sale. <br /> <br /> 3.01. Authorization. The Issuer is authorized by the <br />Act to issue revenue bonds and loan the proceeds thereof to <br />business enterprises to finance the acquisition, construc- <br />tion and installation of facilities constituting a "proj- <br />ect,'' as defined in the Act, and to make all contracts, <br />execute all instruments and do all things necessary or con- <br />venient in the exercise of such authority. <br /> <br /> 3.02. Preliminary Issuer Approval. By preliminary <br />resolution duly adopted by the City Council on June 30, <br />1981, after a public hearing held on that date, this City <br />Council approved the sale of a revenue obligation pursuant <br />to the Act and the loan of the proceeds thereof to the Bor- <br />rower for the acquisition, construction and installation of <br />the Project and authorized the preparation~ of such documents <br />as may be .appropriate to the acquisition, construction and <br />installation of the Project. <br /> <br /> 3.03. Approval of Documents. Pursuant to the fore- <br />going, there have been prepared and presented to the City <br />Council copies of the following documents, all of which are <br />now or shall be placed on file in the office of the City <br />Administrator/Clerk: <br /> <br />(a) Assignment of Rents and Leases; <br /> <br />(b) Loan Agreement; <br /> <br /> (c) Mortgage and Security Agreement and Fixture <br />Financing Statement; <br /> <br />- 6 - <br /> <br /> <br />