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earnings to the United States. The City expects to satisfy the twenty four month expenditure exemption for gross proceeds of the Bonds as provided in Section 1.148-7(e)(1) of the Regulations. The Mayor and/or Finance Director are hereby authorized and directed to make such elections as to arbitrage and rebate matters relating to the Bonds as they deem necessary, appropriate or desirable in connection with the Bonds, and all such elections shall be, and shall be deemed and treated as, elections of the City. The City shall use its best efforts to comply with any federal procedural requirements which may apply in order to effectuate the designation made by this paragraph. 25. Official Statement. The Official Statement relating to the Bonds prepared and distributed by Springsted is hereby approved and the officers of the City are authorized in connection with the delivery of the Bonds to sign such certificates as may be necessary with respect to the completeness and accuracy of the Official Statement. 26. Severability. If any section,paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 27. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member Pust and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: Willmus, Johnson,Pust, McGehee, Roe and the following voted against the same: None. whereupon the resolution was declared duly passed and adopted. 19 4990921v1