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(c) the payments under the Loan Agreement and the Note are fixed to produce revenue sufficient to provide for the prompt payment of principal of, premium, if any, and interest on the Bonds issued under the Indenture when due, and the Loan Agreement, Mortgage and Indenture also provide that the Borrower is required to pay all expenses of the operation and maintenance of the Project, including, but without limitation, adequate insurance thereon and insurance against all liability for injury to persons or property arising from the operation thereof, and all taxes and special assessments levied upon or with respect to the Project premises and payable during the term of the Loan Agreement and the Indenture; (d) under the provisions of Minnesota Statutes, Chapter 462C and as provided in the Loan Agreement and Indenture, the Bonds are not to be payable from or charged upon any funds other than the revenue pledged to the payment thereof; the City is not subject to any liability thereon; no holder of any Bonds shall ever have the right to compel any exercise by the City of its taxing powers to pay any of the Bonds or the interest or premiums thereon, or to enforce payment thereof against any property of the City except the interests of the City in the Loan Agreement which have been assigned to the Trustee under the Indenture; the Bonds shall not constitute a charge, lien, or encumbrance, legal or equitable upon any property of the City except the interests of the City in the Loan Agreement which have been assigned to the Trustee under the Indenture; the Bonds shall recite that the Bonds are issued without moral obligation on the part of the state or its political subdivisions, and that the Bonds, including interest thereon, are payable solely from the revenues pledged to the payment thereof; and, the Bonds shall not constitute a debt of the City within the meaning of any constitutional or statutory limitation. 7. The forms of the Loan Agreement, the Indenture, the Regulatory Agreement, the Tax Compliance Agreement, the Mortgage Assignment, the Purchase Agreement and exhibits thereto (the "City Documents") are approved substantially in the form submitted. The City Documents, in substantially the forms submitted, are authorized and directed to be executed in the name on behalf of the City by the Mayor and the City Manager. Any other documents and certificates necessary to the transaction described above and approved by Briggs and Morgan, P .A., as Bond Counsel, and the officers herein to execute the City Documents shall be executed by the appropriate City officers. Copies of all of the documents necessary to the transaction herein described shall be delivered, filed and recorded as provided herein and in the Loan Agreement and the Indenture. 8. The City shall proceed forthwith to issue the Bonds, in the form and upon the terms set forth in the Indenture. The Bonds will be purchased on substantially the terms set forth in the Purchase Agreement and the Indenture which have been submitted to the City in connection with this Resolution. The Mayor and City Manager are authorized and directed to prepare and execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee for authentication and delivery to the original purchasers. 9. The Mayor and the City Manager and other officers of the City are authorized and directed to prepare and furnish to the Purchaser certified copies of all proceedings and records of the City relating to the Bonds, and such other affidavits and certificates as may be required to 2035126v3 3