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<br />Section 3. <br /> <br />Recital of Representations Made by the Borrower. <br /> <br />(a) The Borrower has agreed to pay any and all costs incurred by the City in <br />connection with the issuance of the Bonds, whether or not such issuance is carried to completion. <br /> <br />(b) The Borrower has represented to the City that no public official of the City has <br />either a direct or indirect financial interest in the Project nor will any public official either <br />directly or indirectly benefit financially from the Project. <br /> <br />Section 4. <br /> <br />Public Hearing. <br /> <br />(a) As required by the Acts and Section 147(f) of the Code a Notice of Public <br />Hearing was published in the City's official newspaper and newspaper of general circulation, for <br />a public hearing on the proposed issuance of the Bonds and the proposal to undertake and <br />finance the Proj ect. <br /> <br />(b) As required by the Acts and Section 147(f) of the Code the City Council has on <br />this same date held a public hearing on the issuance of the Bonds and the proposal to undertake <br />and finance the portion of the Project located within the jurisdictional limits of the City, at which <br />all those appearing who desired to speak were heard and written comments were accepted. <br /> <br />Section 5. Host Approval. The City Council hereby gives the host approval required <br />under Section 147(f) of the Code and, pursuant to Minnesota Statutes 9471.656, Subd. 2(2), the <br />City Council hereby consents to the issuance of the Bonds. <br /> <br />Stanley Harpstead, Mayor <br /> <br />ATTEST: <br /> <br />Ronald J. Moorse, Administrator <br /> <br />2345557v2 <br /> <br />3 <br />