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2. Authorization. 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 necessary <br />in connection with the City's participation in the Project, as generally described <br />hereinabove, the entering into the Agreements, and the issuance of the Note(s) in aid of <br />financing and completing the Project. <br />~. Approval 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 />20, and shall be published once in the official newspaper of <br />the City as soon as conveniently possible pursuant to Minnesota Statutes, Section 453.58, <br />Subdivision 2. This Resolution in itself if not intended and shall not be interpreted as a <br />commitment of the City to the Project, which shall be contingent upon the execution of <br />the mutually acceptable Agreements. <br />Passed and adopted by the City Council and the Elk River Municipal Utilities <br />Commission of the City of Elk River this day of March, 2005. <br />ELK RIVER MUNICIPAL <br />UTILITIES COMMISSION <br />By: <br />Jaynes Tralle <br />Its: President <br />A"]'TEST: <br />Bryan Adams <br />ELK RIVER CITY COUNCIL <br />Bv: <br />Stephanie Klinzing, Mayor <br />AT"PEST: <br />.loan Schmidt <br />2 <br />