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<br />(c) The City hereby designates the Bank Qualified Bonds as <br />llqualified tax exempt obligationsll for purposes of Section <br />265 (b) (3) of the Codei <br /> <br />(d) The reasonably anticipated amount of tax exempt <br />obligations (other than obligations described in Section <br />265(b) (3) (C) (ii) of the Code) which will be issued by the <br />City (and all entities treated as one issuer with the City, <br />and all subordinate entities whose obligations are treated <br />as issued by the City) during this calendar year 1997 will <br />not exceed $10,000,000; and <br /> <br />(e) Not more than $10,000,000 of obligations issued by the <br />City during this calendar year 1997, together with the Bank <br />Qualified Bonds, have been designated as IIqualified <br />tax-exempt obligations" for purposes of Section 265 (b) (3) of <br />the Code. <br /> <br />The City shall use its best efforts to comply with any <br />federal procedural requirements which may apply in order to <br />effectuate the designation made by this paragraph." <br /> <br />2. The actions of the City officials taken on behalf of <br />the City in designating only a portion of the Bonds as "qualified <br />tax-exempt obligations" under said Section 265 (b) (3) as provided <br />in the amendment set forth in paragraph 1 above are hereby <br />ratified, affirmed and approved. <br /> <br />Adopted by the City Council of the City of Roseville, <br />Minnesota, this 12th day of May , 1997. <br /> <br />~~ <br />Cl ty M ~ager· ifð <br /> <br />349463. 1 <br /> <br />3 <br />