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<br />(d) the reasonably anticipated amount of tax-exempt <br />obligations (other than private activity bonds, treating <br />qualified 501(c) (3) bonds as not being private activity <br />bonds) which will be issued by the City (and all entities <br />treated as one issuer with the City, and all subordinate <br />entities whose obligations are treated as issued by the <br />City) during this calendar year 1997 will not exceed <br />$10,000,000; and <br /> <br />(e) not more than $10,000,000 of obligations issued by <br />the City during this calendar year 1997 have been designated <br />for purposes of Section 265 (b) (3) of the Code. <br /> <br />The City shall use its best efforts to comply with any federal <br />procedural requirements which may apply in order to effectuate <br />the designation made by this paragraph. <br /> <br />9. Contingent Approval. The Project is hereby given <br />approval by the City subject to the approval of the Improvements <br />by the Commissioner of the Department of Trade and Economic <br />Development and of the Cowmissioner of Human Services and of <br />Health or such other state officer or officers having authority <br />to grant approval (collectively, the "Commissioner"). <br /> <br />10. Submission of Proposal for Approval. In accordance <br />with Subdivision 3 of Section 469.154 of the Act, the Mayor or <br />City Manager of the City is hereby authorized and directed to <br />submit the proposal for the Improvements to the Commissioner <br />requesting his or her approval, and other officers, employees and <br />agents of the City are hereby authorized to provide the <br />Commissioner with such preliminary information as he may require. <br /> <br />346051.1 <br /> <br />8 <br />