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l. On the basis of the information given to the City to date, the City hereby <br />"approves", as such term is used in IRC �����#� and for the sole purpose of complying with the <br />requirements therein, the issuance by CoHFA of the CoHFA Roseville Approved Bonds to <br />refinance the portion of the 2000 Ag Board Bonds attributable to the Project. The CoHFA <br />Roseville Approved Bonds, if issued by CoHFA, shall not constitute a charge, lien or <br />encumbrance, legal or equitable, upon any properiy of the City, the Ag Board or the State, and <br />shall not constitute a debt or pecuniary liability of the City, the Ag Board or the State. <br />2. A public hearing was conducted by the City on the proposal that CoHFA issue the <br />CoHFA Roseville Approved Bonds, at which hearing parties who appeared were given an <br />opportunity to express their views with respect to said proposal. <br />Notice of the time and place of the hearing, which contained (i) the estimated maximum <br />aggregate face amount of the CoHFA Roseville Approved Bonds, (ii) the initial owner, operator <br />or manager of the Project, and (iii) the location of the Project by its street address, was published <br />at least once not less than 14 days prior to the date fixed for the hearing in a newspaper of <br />general circulation in the City and all action heretofore taken in connection with providing such <br />notice is hereby ratified, approved and confirmed in all respects. <br />The notice stated that a copy of the City's resolution "approving", as such term is used in <br />IRC �����#� and for the sole purpose of complying with the requirements therein, the issuance of <br />the CoHFA RosevilleApproved Bonds was availablefor public inspection following such notice <br />at the offices of the City and specified the place and times such resolution was so available. <br />3. The City did not perform any due diligence regarding the terms and conditions of <br />the CoHFA Roseville Approved Bonds, including but not limited to the financial terms and <br />conditions thereof, in its "approval", as such term is used in IRC �]��(f r and for the sole purpose <br />of complying with the requirements therein, of such bonds. <br />4. The Applicant has agreed and it is hereby determined that any and all costs <br />incurred by the City in connection with the refinancing of the Project, whether or not such <br />refinancing is consummated, shall be paid by the Applicant. <br />Dated: October 9,2006 <br />Interim City Manager <br />� L� �ir i!-Y y <br />