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NOTE RESOLUTION WHEREAS: The City has received through Joint Powers Agreements with the Cities of Maplewood and Saint Paul $5,000,000 pursuant to the Act as an allocation of authority to issue private activity bonds, as such term is defined in Section 103(A) of the federal Internal Revenue Code of 1954, as ~nended, and part of such authority must be allocated to the Note in order to make its interest tax-exempt; NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Rosevi11e, Minnesota, as follows: ARTICLE ONE DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS 1-1. Definitions. The terms used herein, unless the context hereof shall require otherwise shall have the following meanings, and any other tenus defined in the Loan Agreement shall have the same meanings when used herein as assigned to them in the Loan Agreement unless the context or use thereof indicates another or different meaning or intent. Act: the Minnesota Municipal Industrial Development Act, Minnesota Statutes, Chapter 474, as ~~ended; Bond Counsel: the firm of Briggs and Morgan, Professional Association, of St. Paul and Minneapolis, Minnesota, and any opinion of Bond Counsel shall be a written opinion signed by such Counsel; Borrower: Advance Circuits, Inc., a Minnesota corporation, its successors, and permitted assigns, and any surviving, resulting or transferee business entity which may assume its obligations under the Loan Agreement; City: the City of Rosevil1e, Minnesota, its successors and assigns; City Financing Statement: financing statement executed by the City covering the Loan Agreement;