Resolution - #98-11-279 - 11/24/1998

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That such approval is subject to the condition that the net interest cost of the Bonds shall not be greater than 5.65%. That the City hereby approves the use of the proceeds of the Bonds to acquire and construct the Project. That in connection with the issuance of the Bonds by the Issuer, the Mayor and City Administrator are hereby authorized to execute and deliver on behalf of the City, the Continuing Disclosure Certificate substantially in the form on file with the City Administrator on the date hereof, with such variations as shall be approved by the Mayor upon the advice of the City Attorney, and execution by the Mayor shall be conclusive evidence of such approval. That upon the advice of the City Attorney, the Mayor and City Administrator are hereby authorized to execute such additional documents and certificates as are deemed by bond counsel to be necessary or advisable in connection with the issuance of the Bonds by the Issuer. That the City hereby consents to the distribution and use in connection with offers and sales of the Bonds by the Underwriter, of the Preliminary Official Statement and the Official Statement, to be prepared substantially in the form on file with the City Administrator on the date hereof. o That the City hereby determines that the Issuer is issuing the Bonds on behalf of and for the benefit of the City and hereby irrevocably allocates to the Issuer $300,000,000 of the City's $5,000,000 limitation for purposes of Section 148(0 of the Internal Revenue Code of 1986, as amended (the "Code"), relating to rebate of arbitrage face amount of tax- exempt obligations (other than private activity bonds) which will be issued by the City (and all subordinate entities of the City) during calendar year 1998 will not exceed $5,000,000. o That the City hereby irrevocably agrees with the Issuer that for purposes of Section 265(b)(3) of the Code, 100% of the issue of Bonds shall be allocated to the City, and 0% of the issue of Bonds shall be allocated to the Issuer. The City hereby represents that the reasonably anticipated amount of tax-exempt obligations (other than any private activity bonds other than qualified 501(c)(3) bonds) which will be issued by the City (and all subordinate entities of the City) during calendar year 1998 will not exceed $10,000,000. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Beahen, and upon vote being taken thereon, the following voted in favor thereof: Mayor Gamec Councilmember Beahen Councilmember Beyer Councilmember Haas Steffen Councilmember Zimmerman RESOLUTION #98-11-279 Page 2 of 3