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Indenture, the Mortgage, and the Lease, the pledge of revenues
<br /> derived from the Project referred to in the Indenture, the
<br /> creation of the funds provided for in the Indenture, the
<br /> provisions relating to the handling of the proceeds derived
<br /> from the sale of the Bonds pursuant to and under the Indenture
<br /> and the handling of said revenues and other monies are all
<br /> commitments, obligations, and agreements on the part of the
<br /> Authority contained in the Indenture, and the invalidity of the
<br /> Indenture, the Mortgage, or the Lease shall not affect the
<br /> commitments, obligations, and agreements on the part of the
<br /> Authority to create such funds and to handle said revenues,
<br /> other monies, and proceeds of the Bonds for the purposes, in
<br /> the manner and according to the terms and conditions fixed in
<br /> the Indenture, it being the intention hereof that such
<br /> commitments on the part of the Authority are as binding as if
<br /> contained in this Resolution separate and apart from the
<br /> Indenture, the Mortgage, or the Lease.
<br /> 2 . 11) That the Bonds shall contain a recital that they are
<br /> issued pursuant to the Act, and such recital shall be
<br /> conclusive evidence of the validity of the Bonds and the
<br /> regularity of the issuance thereof, and that all acts,
<br /> conditions, and things required by the laws of the State of
<br /> Minnesota relating to the adoption of this Resolution, to the
<br /> issuance of the Bonds and to the execution of the Indenture,
<br /> the Mortgage, and the Lease, to happen, exist, and to be
<br /> • performed precedent to and in the enactment of this Resolution,
<br /> and precedent to the Bonds and precedent to the execution of
<br /> the Indenture, the Mortgage, and the Lease have happened,
<br /> exist, and have been performed as so required by law.
<br /> 2 . 12) That the officers of the Authority, attorneys,
<br /> engineers, and other agents or employees of the Authority are
<br /> hereby authorized to do all acts and things required of them by
<br /> or in connection with this Resolution, the Indenture, the
<br /> Mortgage, and the Lease for the full, punctual, and complete
<br /> performance of all the terms, covenants, and agreements
<br /> contained in the Bonds, the Indenture, the Mortgage, the Lease,
<br /> and this Resolution.
<br /> 2 . 13) That the Authority hereby approves the form of the
<br /> Official Statement annexed hereto and hereby ratifies and
<br /> confirms its use and distribution to the Underwriters for use
<br /> and distribution in connection with the sale of the Bonds .
<br /> 2 . 14) That this-Board hereby finds that the most favorable
<br /> bid received for the purchase of the Bonds is that of
<br /> Edward D. Jones & Co. , of St. Louis , Missouri ,
<br /> proposing a purchase price of Two Million Six Hundred Ninety-
<br /> Six Thousand One Hundred Sixty Dollars ($2, 696,160) , the Bonds
<br /> to bear interest at a true interest cost of 6 . 6679% , and hereby
<br /> accepts such bid. A copy of said bid is attached hereto as
<br /> 411 Attachment I.
<br /> 6 .
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