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The City may also .issue tax-exempt bonds, the proceeds of which are loaned to certain <br />private entities, including qualified 501(c)(3) organizations (referred to as "conduit <br />bonds"). The City will require, as part of approval of any conduit bonds, that the borrower <br />assumes the duties ofpost-issuance debt compliance as described in this Post-Issuance <br />Debt Compliance Policy, including provisions for reporting to the City. <br />Adopted this date by the City Council of the City of Elk River, <br />Minnesota <br />