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4. The Little Canada Bonds will constitute a revenue obligation secured solely by the <br />projects refinanced with the proceeds of the Little Canada Bonds, revenues derived from the operation of <br />said projects, and other security provided by the Borrower. The Little Canada Bonds will not constitute a <br />general or moral obligation of Little Canada or Arden Hills, or be secured by any taxing power of Little <br />Canada or Arden Hills. <br />5. The Borrower will, upon demand, reimburse Arden Hills for costs paid or incurred by <br />Arden Hills in connection with this resolution. <br />Adopted by the City Council of the City of Arden Hills on this 15th of Novembtr, 2010. <br />Attest: <br />Patrick Klaers, City Administrator /Clerk <br />an Harpste <br />3 <br />