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preventing the emergence of blighted and marginal lands and areas of chronic unemployment; preventing economic deterioration; the development of sound industry and commerce to use the available resources of the community, in order to retain the benefit of the community's existing investment in educational and public service facilities; and halting the movement of talented, educated personnel to other areas and thus preseLving the economic and human resources needed as a base for providing governmental services and facilities; and adding to the tax base of the City and the County and School District in which the Project will be located, (c) The Project has been approved by preliminary resolutions of the City Council duly adopted on March 13, 1979, and by the Commissioner of Securities of the State of Minnesota, as tending to further the purposes and policies of the Act. (d) The issuance and sale of the Note, the execu- tion and delivery of the Loan Agreement, the Construc- tion Loan Agreement and the Loan Agreement Assignment and the performance of all covenants and agreements of the city contained in the Note, the Loan Agreement, the Construction Loan Agreement and the Loan Agreement Assignment and of all other acts and things required under the Constitution and laws of the state of Minnesota to make the Note, the Loan Agreement, the Construction Loan Agreement and the Loan Agreement Assignment valid and binding obligations of the City in accordance with their terms, are authorized by the Act. (e) There is no litigation pending or, to the best of its knowledge threatened, against the City relating to the Project or to the Note, the Loan Agree- ment, the Construction Loan Agreement or the Loan Agreement Assignment or questioning the organization of the City or its power or authority to issue the Note or execute and deliver the Loan Agreement, the Construction Loan Agreement and the Loan Agreement Assignment. (f) The execution, delivery and performance of the City's obligations under the Note, the Loan Agree- ment, the Construction Loan Agreement and the Loan Agreement Assignment have been fuLLy authorized by all requisite action and do not and will not violate any law, any order of any court or other agency of govern- ment, or any indenture, agreement or other instrument to which the City is a party or by which it or any of its property is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or other instrument. -3-