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would not be a general or moral obligation of the City, would not be secured by any of <br />the City's existing municipal electric utility assets, and would not be payable from or <br />a lien against the rates and charges imposed by the City on its municipal electric <br />customers. <br /> <br />2. &J, Lt~. It is hereby resolved and determined pursuant to Minnesota <br />Statutes, Section 453.58, that the City may exercise such powers and enjoy such <br />privileges provided in Minnesota Statutes, Chapter 453, as may be desirable or <br />necessary in connection with the City's participation in the Project, as generally <br />described hereinabove, the entering into the Agreements, and the issuance of the <br />Note(s) in aid of financing and completing the Project. <br /> <br />3. A_D0roval and Publication. This Resolution has been duly adopted by the City <br />Council of the City of Elk River, Minnesota, and by the Elk River Municipal Utilities <br />Commission, respectively, at duly called and regularly held meetings there on <br /> ~13~ ~ , 20~/ , and shall be published once in the official <br />newspaper of the City as soon as conveniently possible pursuant to Minnesota Statutes, <br />Section 453.58, Subdivision 2. This Resolution in itself if not intended and shall not <br />be interpreted as a commitment of the City to the Project, which shall be contingent <br />upon the execution of the mutually acceptable Agreements. <br /> <br /> Passed and adopted by the City Council and the Elk River Municipal Utilities <br />Commission of the City of Elk River this I ~ day of April, 2001. <br /> <br />, ST: <br />Br~a~n Adams <br /> <br />S'andra Peine <br /> <br />ELK RIVER MUN~IPAL <br />UTILITIES C~ISSION <br /> <br />Its: President <br /> <br />ELK RIVER CITY COUNCIL <br /> <br /> nie or <br /> <br /> <br />