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<br />for such purposes, and (2) to satisfy its obligations hereunder <br />from year to year from such eligible other revenues as the EDA . <br />may deem in its discretion to be appropriate, desirable or <br />necessary, as may be permitted by law. <br /> <br />2. An executed copy of this Agreement shall be filed with <br />the County Auditor of Sherburne County, Minnesota, as required by <br />Minnesota Statutes, Section 469.178, Subdivision 2. <br /> <br />3. This Agreement shall become effective upon the actual <br />issuance and delivery of the Bonds. <br /> <br />IN WITNESS WHEREOF, the City and the EDA have caused this <br />Agreement to be duly approved and executed as of the day and year <br />first above written. <br /> <br />CITY OF ELK RIVER, MINNESOTA <br /> <br />By <br />Its Mayor <br /> <br />(SEAL) <br /> <br />By <br />Its City Administrator <br /> <br />ELK RIVER ECONOMIC DEVELOPMENT <br />AUTHORITY <br /> <br />. <br /> <br />By <br />Its President <br /> <br />By <br />Its Secretary <br /> <br />. <br /> <br />1059219.1 <br />