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The view of individuals and businesses expressed at the public hearing on the project <br />will also be considered. <br />C. Procedural Provisions <br />A project will not be given final approval until all City planning and zoning <br />requirements have been met and all related permits and approvals have been <br />issued: Planning and zoning matters may be considered simultaneously with <br />preliminary approval of the project. <br />2. City officials will not deliver documents for the issuance of tax exempt <br />obligations until all required fees have been paid by the applicant to the City. <br />The Council resolution giving preliminary approval to a project shall specify: <br />a. That the approval given terminates one year from the date of the <br />resolution and may be renewed only upon request of the applicant. <br />b. That the applicant agrees to pay all required fees and reimburse the City <br />for any and all costs inured by it in the financing, whether of not the <br />bonds are issued. <br />c. That the City reserves the right in its sole discretion to withdraw the <br />preliminary approval at any time prior to the issuance of the obligations of <br />the project. <br />4. The Director of Economic Development is responsible for the administration <br />and processing of applications for conduit bonding. The Director of Economic <br />Development is to prepare and revise from time to time, necessary application <br />forms and informational material in order to carry out the objectives of this <br />policy. <br />5. The following fees for the processing of applications are established: <br />a. A fee of $5000 due upon the submission of the application, and <br />b. t)i~e ercent ?1~of the principal amount of the bond due upon issue of -{Deleted: One t,~tfofone <br />_.._- <br />the bond. <br />The City is to be reimbursed and held harmless for any out-of-pocket expenses <br />related to the conduit bonding including, but not limited to the City's issuer <br />counsel and other legal fees, financial analyst fees, bond counsel fees, and the <br />Cit~s administrative expenses in connection with the application. The applicant <br />must execute a letter to the City undertaking to pay all such expenses even if they <br />exceed the deposit. <br />6. The applicant must select a financial advisor or underwriter reasonably acceptable <br />to the City to assist the applicant in preparing all necessary <br />application documents and materials. The financial adviser will submit ,-d, deleted: nu~sc zoos <br />3 i~~tw~no <br />