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<br />Minnesota Department of Trade and Economic Development, (b) <br />review and approval of the proposed Project by the City's Bond <br />Counsel, and (c) final approval by this Council, the Company, and <br />the purchaser of the Revenue Bonds as to the ultimate details of <br />the financing of the Project; <br /> <br />4. Company has agreed and it is hereby determined that any <br />and all costs incurred by the City in connection with the <br />financing of the Project whether or not the Project is carried to <br />completion and whether or not approved by the City will be paid <br />by Company; <br /> <br />5. Nothing in this resolution or in the documents prepared <br />pursuant hereto shall authorize the expenditure of any municipal <br />funds on the Project other than the revenues derived from the <br />Project or otherwise granted to the City for this purpose. The <br />Revenue Bonds shall not constitute a charge, lien or encumbrance, <br />legal or equitable, upon any property or funds of the City except <br />the revenue and proceeds pledged to the payment thereof, nor <br />shall the City be subject to any liability thereon. The holder <br />of the Revenue Bonds shall never have the right to compel any <br />exercise of the taxing power of the City to pay the outstanding <br />principal on the Revenue Bonds or the interest thereon, or to <br />enforce payment thereof against any property of the city. The <br />Revenue Bonds shall recite in substance that the Revenue Bonds, <br />including interest thereon, is payable solely from the revenue <br />and proceeds pledged to the payment thereof. The Revenue Bonds <br />shall not constitute a debt of the City within the meaning of any <br />constitutional or statutory limitation; <br /> <br />6. In anticipation of the final approval by the City of the <br />issuance of the Revenue Bonds to finance all or a portion of the <br />Project, and in order that completion of the Project will not be <br />unduly delayed when approved, the Company is hereby authorized to <br />make such expenditures and advances toward payment of that <br />portion of the costs of the Project to be financed from the <br />proceeds of the Revenue Bonds as Company considers necessary, <br />including the use of interim, short-term financing, subject to <br />reimbursement from the proceeds of the Revenue Bonds if and when <br />delivered but otherwise without liability on the part of the <br />city. <br /> <br />Adopted by the City Council of the City of Roseville, Minnesota, <br />this 26th day of July, 1993. <br /> <br />244249 <br /> <br />3 <br />