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hereunder shall for any reasoti beheld to -be illegal or invalid, suchillegality or :invalidity sltall riot :affect any other
<br />provision of th is resolution, or oftheaforeinentiSned-documents; be oftlteflondsi burthis resolution, the aforementioned
<br />documents, and the Bonds shall be construed and endorsed as if "such illegal or invalid provisions had not beeit contained
<br />therein,
<br />I i. The Bonds, when executed and delivered, shall contain. a recital that they are issued.pursuant to the Act, andsuch recital.
<br />sltall be conclusive evidence of the validity of the. Bonds and the regularity. of the issuance thereof, and that all acts,
<br />conditions, and things required by the laws of the State of Minnesota relating to theadoption of this.resolution, to the
<br />issuance of the Solids, and to the execution of the: aforementioned documents to. happen, exist, and be performed.
<br />precedent to the execution. or.the aforementioned. documents have happened,. exist, and have..bee.n per as: so
<br />required by law.
<br />f6: The officers ofthe City, bond counsel, other.attorneys, engineers, and other.agents or einployees.ofthe .City are hereby
<br />authorized to do all acts and things. -required of them by or in connection with this resolution, the aforementioned
<br />documents, and.the Bonds.for the full,:punctual and complete -performance of all the terms, covenants and agreements
<br />contained in the. $onds,:the aforementioned documents and this resolution. In the event that for any reason the Mayor
<br />of the City. is unab.leto carry out the execution ofany of the documentsor other acts provided herein, an p other member
<br />of the. City Council of the:.City shall be authorized to act. in his capacity. and undertake such execution or acts on behalf
<br />of the Citywith full force and: effect, which execution or acts shallbe valid and binding anti the City. if for any reason
<br />the City Clerk of the City is unablt to execute and deliverthtdocuments.referred to in this Resolution, such documents
<br />may be executed byany tnemberofthe.City Councilor any-offlcer.of the -City delegated the duties of the City Clerk, With
<br />the same force and effect as if such documents werO executed and delivered by the City Clerk of the City.
<br />17, PursbAnt to Section 265(b)(3) .of the Internal Revenue Code.of 1986, as amended (the "Code"), the Series 2002A Botids..
<br />acid fete Note may be desibnated as "qualified tax-exemptobligatione' exempt front the provisions of Section 265(b)(1).
<br />and (2) of the Codeif the conditions set forth in Section 265(b)(3) of the Code are satislied: .The City makes the
<br />following factual .statements and reptesentationswith respect to the status of the Series 2002A Bonds and the Note as
<br />qualified tax-exempt obligations; (a) the Series 2002A Bonds and the Note,arc "qualified 54l(c)(3) bonds'` as defined
<br />in Secticitt 145 of the Code.
<br />.(b) the City herebydesignates the:Series 2062ABonds and tile: Note as''qualified.tax-exempt
<br />obligations" for purposes of Section.,265(.b)(3). of the Code, and the reasonably anticipated.amount of tax-exempt
<br />obIigations.(other than .private activity bonds that. are. not "qualified 501(c)(3) bonds," as defined in Section 145 of the
<br />Code, and bonds issued to refund, other -than to advance refund, any other bonds of the City to the extent. that the
<br />principal amount of the refuttding bonds does not. exceed :the outstanding amount of the.refunded bonds) which will be.
<br />issued by the. City (and all .subordinate entities of the City) during.calendar year 2002. will not exceed $10.000,000..
<br />IS._ This resolution shall be%in full foree.and effe.c..t from and after its passage;
<br />ATTEST
<br />The fore�,oing.resolution was.ofi'ered by Council Member Bosak and *Wpported by Council Member Watson And was
<br />d c.Iared adopted on a unanitnous.-vtjte`ofthe City Council.
<br />1. Frederic C. Magnuson, the duly qualified City Clerk of the City of 0em Lake, County of ltantsey, Stateof Minnesota., do
<br />hereby certify flint the foregoing Resolution is a true and accurate representation of action taken by the City Counc l.of tho City
<br />of Getn Lame orr the date first written:
<br />Frederic C. Magnuson, City Clerk
<br />I
<br />Date
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