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<br />Resolution #83-93
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<br />provided in the Indenture. The Bonds shall be secured by the Indenture. The
<br />Mayor (hereinafter referred to as the "Mayor") and City Administrator/City
<br />Clerk of the City are hereby authorized and directed to execute the Bonds in
<br />accordance with the Indenture.
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<br /> 4) That the Loan Agreement, the Indenture, and the Bond Purchase
<br />Agreement, dated as of the date of this resolution (the "Bond Purchase Agree-
<br />ment''), by and between the City, the Developer, and the Underwriter are hereby
<br />authorized and directed to execute and deliver the Loan Agreement, the Inden-
<br />ture, and the Bond Purchase Agreement, substantially in the forms now on file
<br />with the City, with such necessary and appropriate omissions, modifications,
<br />insertions, and additions as are not materially inconsistent with the form
<br />on file with the City, consistent with the Act, as the Mayor in his discretion
<br />shall determine. The execution of the Loan Agreement, the Indenture, and the
<br />Bond Purchase Agreement by the Mayor with the advice of the City Attorney
<br />shall be conclusive evidence of such determination. Ail of the provisions
<br />of the Loan Agreement, the Indenture, and the Bond Purchase Agreement when
<br />executed and delivered as authorized herein, shall be deemed to be a part
<br />of this resolution as fully and to the same extent as if incorporated herein
<br />and shall be in full force and effect from the date of execution and delivery
<br />thereof. The City hereby approves the form of the Letter of Credit to be
<br />issued by First National Bank in Anoka to secure the payment of the princi-
<br />pal of and interest on the Bonds and authorizes and directs the Trustee to
<br />accept the Letter of Credit, substantially in the form of the Letter of
<br />Credit now on file with the City.
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<br /> 5) That the Mayor and City Administrator/City Clerk of the City
<br />are hereby authorized to execute and deliver, on behalf of the City, such
<br />other documents as are necessary or appropriate in connection with the issu-
<br />ance, sale, and delivery of the Bonds, including the election required to be
<br />made by the City pursuant to Section 103 (b) (6) (D) of the Internal Revenue
<br />Code of 1954, as amended, and Section 1.103-10(b) (2) (vi) of the Regulations
<br />promulgated pursuant thereto.
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<br /> 6) That all covenants, stipulations, obligations, and agreements
<br />of the City contained in this resolution and the aforementioned documents
<br />shall be deemed to be the covenants, stipulations, obligations, and agree-
<br />ments of the City to the full extent authorized or permitted by law, and
<br />all such covenants, stipulations, obligations, and agreements shall be bind-
<br />ing upon the City upon execution and delivery of such documents. Except as
<br />otherwise provided in this resolution, all rights, powers and privileges con-
<br />ferred and duties and liabilities imposed upon the City or its officers by the
<br />provisions of this resolution or of the aforementioned documents to be executed
<br />and delivered by the City shall be exercised or performed by the City or by
<br />such officers of the City, or such board, body, or agency thereof as may be
<br />required by law to exercise such powers and to perform such duties.
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<br /> No covenant, stipulation, obligation, or agreement herein con-
<br />tained or contained in the aforementioned documents shall be deemed to be a
<br />covenants, stipulation, obligation, or agreement of any member of the City
<br />Council of the City, or any officer, agent or employee of the City in that
<br />person's individual capacity, and neither the City Council of the City nor
<br />any officer executing the Bonds shall be liable personally on the Bonds or
<br />be subject to any personal liability or accountability by reason of the
<br />issuance thereof.
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