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, FROM BRIGGS & MORGAN 8T. PAUL 612-223-6645 (WED) 10,06' 93 12: 19/8T. 12: 16/NO. 3560836491 P 5 (0) tbe Proj~ct is to be located within the City limits, at ,a site which is easily aocessible to persons residinq within the city and the surrounding co~unities; Cd) the acquisition, c9nstruction and , installation of the projQct, tha issuance ~nd sale of the Bonds, the execution and d~livery by the city of the Loan Agreement, the Indenture and tbe Bond Purchase Aqreement (collectively, the "Agreementsfl), and the pcu:formanc::e of all covenants and aqreements of the city contained in the Agreetnents, and of all other acts and things required undear the constitution and laws of the State of Minnesota to maKe the Agreements and the Bonds valid and binding obligations of the City in accordance with thcair terms, are authQrized by the Act i (e) it is desirable that the Company be authorized, in accordance with the provisions of the Act and subject to the terms and conditions set forth in the Loan Agreement (whiCh terms and conditions the City determines to be necessary, desirable and proper), to construct and . install the Project ~y such means as shall be available to the Company and in the manner determined by the CoDpany, and with or without advertisement for bids as required for the acquisi~ion and installation of municipal facilitiea; (f) it is dQGirable that the Bonds be issued by the city upon the terms scat forth in the Indenture; (q) the Basic payments under tbe Loan Agreement are fixed to produce revenues Suffi~ient to provide for the prompt payman.t of principal of, premium, if any, interest on, and the purchase price of, the Bonds issued under the Indenture when due, and the Loan Agreement, Mortgage and Indenture also provide that the Company is required to pay all expensep of the operation and ~aintenance of the Project, including, but without limitation, adequate insurance thereon and insurance against all liability for injury to persons or property arising fro. the Qperation thereof, and all taxe6 and special assessmcants levied upon O~ with rQspect to the Projeot Premises (as defined in the Indenture) and payable during the ter.m of the Loan Agreement, Mortgage and Indenture; and (h) under the provisions of Minnesota Statutes, section 462C.07, and as provided in the LQan Aqreement and Indenture, the Bonds are not to be payable from or c~arged upon any funds other than the revenues pledged to the payment thereof; the ,City is not su~ject to any liability 24901)1 4