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.. .. . 4. In accordance with Section 474.01, Subdivision 7a, of the Act, the Mayor of the City is hereby authorized and directed to submit the proposal for the Project to the Commissioner of Securities, requesting her approval of the Project. The Mayor, the City Manager, the City Attorney and other officers, employees and agents of the City and Larkin, Hoffman, Daly & Lindgren, Ltd., acting as bond counsel, are hereby authorized to provide the Commissioner with such information as she may require. The City Attorney is authorized to initiate and assist in the preparation of such documents as may be appropriate to the Project, if it is approved by the Commissioner; 5. The Applicant has agreed and it is hereby determined that any and all costs incurred by the City in connection with the financing of the Project will be paid by Applicant whether or not approved by the Commissioner and whether or not the Project is carried to completion; 6. Nothing in this resolution or in the documents prepared pursuant hereto shall authorize the expenditure of any municipal funds on the Project other than the revenues derived from the Project or otherwise granted to the City for this purpose. The Revenue Bonds shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property or funds of the City except the revenue and proceeds pledged to the payment thereof, nor shall the City be subject to any liability thereon. The holder of the Revenue Bonds shall never have the right to compel any exercise of the taxing power of the City to pay the outstanding principal on the Revenue Bonds or the interest thereon, or to en- force payment thereof against any property of the City. The Revenue Bonds shall recite in substance that the Revenue Bonds , including interest, are payable solely from the revenue and proceeds pledged to the payment thereof. The Revenue Bonds shall not constitute a debt of the City within the meaning of any constitutional or statutory limitation; 7. In anticipation of the approval by the Commissioner of Securities and the issuance of the Revenue Bonds to finance the Projec t, and in order that completion of the Project will not be unduly delayed when approved, the Applicant is hereby authorized to make such expenditures and advances toward payment of that portion of the cost of the Project to be financed from the proceeds of the Revenue Bonds as the Applicant considers necessary, including the use of interim, short-term financing, subject to reimbursement from the proceeds of the Revenue Bonds if and when delivered but otherwise without lia- bility on the part of the City; 8. The actions of the City sta~f in causing notice of the Public Hearing to be published and in describing the general nature of the Project and estimat- ing the principal amount of Revenue Bonds to be issued to finance the Project and in preparing a draft of the proposed application to the Commissioner of Securities, State of Minnesota, for approval of the Project, which has been available for inspection by the public at the office of the City Clerk from and after the publication of notice of the hearing, are in all respects ratified and confirmed; 9. The adoption of this Resolution does not constitute a guarantee or a firm commitment that the City will issue the Revenue Bonds as requested by the Applicant. The City retains the right in its sole discretion to withdraw from participation and accordingly not issue the Revenue Bonds should the City at any time prior to the issuance thereof determine that it is in the best interests of 3.