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Minnesota Statutes, Section 462C.05, subd. 5, at which public hearing all those appearing at said hearing who desired to speak were heard; (i) No public official of the City has either a direct or indirect financial interest in the Project nor will any public official either directly or indirectly benefit financially from the Project; (j) The housing program has been submitted to the Metropolitan Council for its review and comment. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. The City hereby gives preliminary approval to the proposal of the Developer that the City undertake the Project, described above, and the program of financing therefor, pursuant to Minnesota Statutes, Chapter 462C, consisting of the construction and equipping of multi-family rental housing facilities within the City pursuant to the Developer's specifications and to a revenue agreement between the City and the Developer on such terms and conditions with provisions for revision from time to time as necessary, so as to produce income and revenues sufficient to pay, when due, the principal and interest on the Bonds in a total principal amount of approx- imately $16,000,000 to be issued pursuant to the Act to finance the construction, renovation and equipping of the Project; and said agreement may also provide for the entire interest of the Developer therein to be mortgaged to the purchaser or purchasers of the Bonds, or a trustee for the holder(s) of the Bonds; and the City hereby undertakes preliminarily to issue its bonds in accordance with such terms and conditions; 2. The housing program is hereby approved and adopted and the City Manager is authorized and directed to submit the housing program to the Minnesota Housing Finance Agency ("MHFA") for its review; 3. At the option of the Developer, the financing may be structured so as to take advantage of whatever means are available and ~re permitted by law to enhance the security for, or marketability of, the Bonds; provided that any such financing structure must be approved by the City;