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payable from or a lien against the rates and charges imposed by the City on <br />its municipal electric customers. <br /> <br />2. Authorization. It is hereby resolved and determined pursuant to <br />Minnesota Statutes, Section 453.58, that the City may exercise such powers <br />and enjoy such privileges provided in Minnesota Statutes, Chapter 453, as <br />may be desirable or necessary in connection with the City's participation in <br />the Project, as generally described hereinabove, including without limitation <br />the designation of UPA as agent of the City, the entering into the Agreement, <br />and the issuance of the Bonds in aid of financing and completing the Project. <br /> <br />3. Approval and Publication. This Resolution has been duly adopted by <br />the City Council of the City of Elk River, Minnesota, and by the Elk River <br />Municip al Utilities Commission, respectively, at duly called and regularly <br />held meetings thereof on November 9, 1998, and shall be published once in <br />the official newspaper of the City as soon as conveniently possible pursuant <br />to Minnesota Statutes, Section 453.58, Subdivision 2. This Resolution in <br />itself is not intended and shall not be interpreted as a commitment of the <br />City to the Project, which shall be contingent upon the execution of the <br />mutually acceptable Agreement. <br /> <br />Passed and adopted by the City Council and the Elk River Municipal <br />Utilities Commission of the City of Elk River this 9th day of November, 1998. <br /> <br />ATTEf~T: <br />Sandra Peine, City Clerk <br /> <br />ELK RJ rER MUNICIPAL <br />U IES COMMISSION <br /> <br /> eorge D resident <br /> <br />ELK RIVER CITY COUNCIL <br /> <br />~enry~k. Dui~sman, Mayor -- <br /> <br /> <br />