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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 paxticipation in <br />the Project, as gener,]]y 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. A~)nroval 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 />Municipal Ut~Hties Commission, respectively, at duly called and regularly <br />held meetings thereof on November 9, 1998, and shall be published once in <br />the of-~c/al 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 9~h day of November, 1998. <br /> <br />ELK R,,]~NER MUNICIPAL <br />U~IES COMbIISSION <br /> <br />~eorge~fresident <br /> <br />ELK RIVER CITY COUNCIL <br />~enry ~.. D~i~sman, Mayor - <br /> <br />an'dxa peine, City Clerk <br /> <br /> <br />