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<. . 3. In accordance with Minnesota Statutes, Section 469.154, the Mayor of the City is hereby authorized and directed to submit the proposal for the Project to DTED. The Mayor and other officers, employees and agents of the City are hereby authorized to provide DTED with any preliminary information needed for this purpose, and the Mayor is authorized to initiate and assist in the preparation of such documents as may be appropriate to the Project, if it is approved. 4. The law firm of Holmes &: Graven, Chartered, is authorized to act as Bond Counsel and to assist in the preparation and review of necessary documents relating to the Project and bonds issued in connection therewith. The Mayor and other officers, employees and agents of the City are hereby authorized to assist Bond Counsel in the preparation of such documents. 5. In accordance with Minnesota Statutes, Section 469.154, Subdivision 7, the Mayor and other officers, employees and agents of the City are hereby authorized and directed to encourage the Developer to provide employment opportunities to economically disadvantaged or unemployed individuals. Such individuals may be identified by such mechanisms as are available to the City, including a first source agreement in which the Developer agrees to use a designated State employment office as a first source for employment recruitment, referral, and placement. 6. The Developer has agreed to pay directly or through the City any and all cost incurred by the City in connection with the Project whether or not the Project is approved by DTED, whether or not the Project is carried to completion, and whether or not the bonds or operative instruments are executed. 7. The approval of the City expressed herein is subject to the condition that by December 31, 1990 the City and the Developer shall have agreed to mutually acceptable terms and conditions of the loan agreement, the bonds and of the other instruments and proceedings relating to the bonds and their issuance and sale. If the events set forth herein do not take place within the time set forth above, or any extension thereof, and the bonds are not sold within such time, this Resolution shall expire and be of no further effect. 8. The adoption of this Resolution does not constitute a guarantee or firm commitment that the City will issue the bonds as requested by the Developer. The City retains the right in its sole discretion to withdraw from participation and accordingly not to issue the bonds, or issue the bonds in an amount less than the amount referred to in paragraph 1 hereof, should the City at any time prior to issuance thereof determine that it is in the best interest of the City not to issue the Bonds, or to issue the Bonds in an amount less than the amount referred to in paragraph 1 hereof, or should the parties to the transaction be unable to reach agreement as to the terms and conditions of any of the documents required for the transaction. 3