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82-2638
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82-2638
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8/15/2005 4:16:16 AM
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8/12/2005 10:57:09 AM
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<br />"',~ <br /> <br />i!':,. <br /> <br />-, . <br /> <br />? <br />~ <br /> <br />3. The Project is hereby given preliminary approval by <br />the City and the issuance of the bonds, notes or other obli- <br />gations for such purpose and in such amount is hereby ap- <br />proved, subject to approval of the Project by the Commis- <br />sioner of Energy, Planning and Development and to the mutual <br />agreement of this body, the CompanYi and the ini tial pur- <br />chasers of the bonds, notes or other' obligations as to the <br />details of the bond issue and provisions for their pay- <br />.ment. In all events, it is understood, however, that the <br />bond, notes or. other obligations of the City shall not con- <br />stitute a charge, lien or encumbrance, legal or equitable, <br />upon any property of the City except the Project, and each <br />bond, note or other obligation when, as, and if issued shall <br />recite in substanc~ that the bond, note or other obligation, <br />including interest thereon, is payable solely from the reve- <br />nues received from the Project and the property pledged to <br />the payment thereof and shall n9t consti tute a debt of the <br />Ci ty.. <br /> <br />4. In accordance with Minnesota Statutes, Section <br />474.01, Subdivision 7(a), the Mayor is hereby authorized and <br />directed to submit the proposal for the Project to the Com- <br />missioner of Energy, Planning and Development for approval <br />of the Project. The Mayor, the Clerk-Treasurer, the Ci ty <br />Attorney and other off icers, employees and agents of the <br />Ci ty are hereby author ized to provicle the Commissioner of <br />Energy, Planning and Development with any preliminary infor- <br />mation needed for this purpose, and the City Attorney is <br />authorized to initiate and assist in the preparation of such <br />documents as may be appropriate to the Project, if it is <br />approved by the Commissioner of Energy, Planning and De- <br />velopment. <br /> <br />~~;j3U~ <br />. ayor <br /> <br />Attest: ~ <br /> <br />~u~ <br /> <br />. 'lerk-Treasurer <br /> <br />- 5 - <br />
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