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(b) As required by the Act and Section 147(f of the Code the City Council has on this <br /> same date held a public hearing on the issuance of the Bonds and the proposal to undertake and <br /> finance the portion of the Project located within the jurisdictional limits of the City, at which all <br /> those appearing who desired to speak were heard and written comments were accepted. <br /> Section 5. Host Approval. The City Council hereby gives the host approval required <br /> under Section 147(f of the Code and,pursuant to Minnesota Statutes X471.656, Subd. 2(2), the City <br /> Council hereby consents to the issuance of the Bonds. <br /> Section 6. Approval of PILOF Payment. In connection with the approval granted <br /> herein to the issuance of the Bonds, and the anticipated exemption of the Facility from property <br /> taxes due to the acquisition of the Facility by the Borrower, the City Council hereby accepts, as a <br /> condition to the approval granted by this Resolution, payment of$56,043.20 in accordance with an <br /> Agreement for Payment in Lieu of Fees to be executed by the Borrower and the City (the "PILOF <br /> Agreement"). <br /> Section 7. Authorization to Execute Agreements. The form of the proposed PILOF <br /> Agreement is hereby approved in substantially the form presented to the City Council, together with <br /> such additional details therein as may be necessary and appropriate and such modifications thereof, <br /> deletions therefrom and additions thereto as may be necessary and appropriate and approved by the <br /> City's Bond Counsel prior to the execution of the PILOF Agreement, and the Mayor and City Clerk <br /> of the City are authorized to execute the PILOF Agreement in the name of and on behalf of the <br /> City and such other documents and certificates as the City's Bond Counsel considers appropriate in <br /> connection with the issuance of the Bonds. In the event of the absence or disability of the Mayor or <br /> City Clerk such officers of the City as, in the opinion of the City Attorney, may act on their behalf, <br /> shall without further act or authorization of the City Council do all things and execute all <br /> instruments and documents required to be done or executed by such absent or disabled officers. <br /> The execution of any instrument by the appropriate officer or officers of the City herein authorized <br /> shall be conclusive evidence of the approval of such documents and certificates in accordance with <br /> the terms hereof. <br /> John,J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City Clerk <br /> 3 <br /> 440886v1 JSB EL185-19 <br />