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FROM BRIGGS & MORGAN ST. PAUL 612-223-6645 (WED) ID- 06' 93 ! P 5 <br /> (a) the Prnjact Is to be located within tha City <br /> limfts, at s site which in easily accessible to persons <br /> resf8,ing akthfn the City aid the surrounding communities; <br /> (d) the acquisition, construction and <br /> installation of the Project, the isetiance and sale or the <br /> Sands, the execution and delivery by the City of the Lean <br /> Agresneht, the indenture and the Bond Purchase Agrsement <br /> (collectively. the "Agreements") , and the gaxlormance of a31. <br /> aOvanants aild agreements of the City contained in the <br /> Agroements, and of all other acts and things raqufrad under <br /> the conatitution and laws of the State of Minnesota to makes <br /> the Agreements and the Sandi valid and binding obligations <br /> Of the City in accordance with thOf.r tOrlas, are authorized <br /> by the Act; . <br /> (e) it is desirable that the Company be <br /> authorized, in accordanc• with the provisions of the Act and <br /> �jact to tha terms and conditions sit forth in the Loan <br /> Agreement (which tatias and conditions the City determines to <br /> be necessary, desirable and propex) , to construct end <br /> fnstaIil the Project by such means as shall be available to <br /> the Cempariy =d in the manner determinod by the Company, and <br /> With or without advertisement for bids as; required for the <br /> acquisition and installation of municipal facilities; <br /> (f) it is desirable that the Bonder be issued by <br /> the City upon the tams met forth iil the Indenture <br /> (4) thg Basic Payments under the Loan Agreement <br /> arm fixed to produce revenues sufficient to provide for the <br /> prompt payment of principal oti premium, if any, interest <br /> on, and the purchase prig of op the Bonds issued under the <br /> Indenture when duo, and the loan Agreement, Mortgage and <br /> TndentvrO. also provide that the company is required to pay <br /> alb, sxpenseo of the operation and maintenance of the <br /> Project, including, but without limitation,, adequate <br /> insurance thereon and insurance against all ].lability for <br /> injury to persons or property arising from the operation <br /> thereof, and all taxes and special assessments levied upon <br /> or with respect to the Project Premises (as defined in the <br /> Indentures) and payable during the term of the Loan <br /> Agreement, No age and Indenture.; and <br /> (h) under the provisions of Minnesota Statutes. <br /> Section 462C.07, and as provided in the Loan Agreement and <br /> =ndanture, the 8onds are not to bQ payable from or charged <br /> Upon any f other than the rsvenuQS pledged to the <br /> payment theroof; the City is not subject to any liability <br /> a�►�o�r <br /> 4 <br />