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3 11 Forms of Documents Submitted. Forms of the <br /> following documents have been submitted to the Council for <br /> approval : <br /> (a) the Loan Agreement; <br /> (b) the Indenture; <br /> (c) the Mortgage; <br /> (d) the Assignment; <br /> (e) the Bond Purchase Agreement; and <br /> (f) the Escrow Agreement . <br /> 4 . Fin din s. It is hereby found, determined and <br /> declared that : <br /> (a) the advance refunding of the Prig Bonds and the <br /> financing of the Improvements further the policies of the Act; <br /> (b) the Improvements promote the pub 1 i c welfare by <br /> providing necessary housing facilities, so that adequate housing <br /> facilities are available to residents of the State of Minnesota <br /> at a reasonable- cost; <br /> (c) the Act authorizes the refunding of the Prior <br /> Bonds and the acquisition, construction and installation of the <br /> facilities and equipment to be financed by the Bonds, the <br /> issuance and sale of the Bonds, the execution and delivery by the <br /> city of the Doan Agreement, Escrow Agreement, Indenture and Bond <br /> Purchase Agreement (collectively the "Bond Documents") , the <br /> performance of all covenants and agreements of the City contained <br /> in the Bond Documents, and the performance of all other acts and <br /> thins required under the constitution and laws of the State of <br /> Minnesota to make the Bond Documents and Bonds valid and binding <br /> obligations of the City in accordance with their terms; <br /> (d) it is desirable that the Bonds be issued by the <br /> City upon the terms set forth in the Indenture; <br /> (e) the payments under the Loam Agreement are fixed to <br /> produce revenue sufficient to provide for the prompt payment of <br /> principal of, premium, if any, and interest on the Bonds issued <br /> under the Indenture when due, and the Loan Agreement and <br /> Indenture also provide that the Company is required to pair all <br /> expenses of the operation and maintenance of the facilities to be <br /> financed by the Bonds, including, but without limitation, <br /> adequate insurance thereon and insurance against all liability <br /> arising for injury to persons or property g from the operation <br /> thereof, and any taxes and special assessments levied upon or <br /> with respect to the premises of said facilities and payable <br /> during the term of the Loan Agreement and Indenture] <br /> 940544.1 4 <br />