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to the disallowance of interest expenses for financial institutions. The City <br />represents that in calendar year 1993 it does not reasonably expect to issue <br />tax-exempt obligations which are not private activity bonds (not treating qualified <br />501(c)(3) bonds under Section 145 of the Code as private activity bonds for purposes <br />of this representation) in an amount in excess of $10,000,000. <br />6.07. Official Statement. The Official Statement relating to the Bonds, <br />dated April Z, 1993, prepared and distributed on behalf of the City by Ehlers and <br />Associates, Inc., is hereby approved. Ehlers and Associates, Inc., is hereby authorized <br />of behalf of the City to prepare and distribute to the Purchaser a supplement to the <br />Official Statement listing the offering price, the interest rates, other information <br />relating to the Bonds required to be included in the Official Statement by Rule 15c2- <br />12 adopted by the Securities and Exchange Commission under the Securities <br />Exchange Act of 1934. Within seven business days from the date hereof, the City <br />shall deliver to the Purchaser 75 copies of the Official Statement and such <br />supplement. The officers of the City are hereby authorized and directed to execute <br />such certificates as may be appropriate concerning the accuracy, completeness and <br />sufficiency of the Official Statement. The officers of the City are hereby authorized <br />and directed to execute such certificates as may be appropriate concerning the <br />accuracy, completeness and sufficiency of the Official Statement. <br />6.09 Authorization of Receivt of Bond Proceeds and Payment of <br />Certain Costs of Issuance of the Bonds. The Registrar is hereby authorized and <br />• directed, on the date of issuance and delivery of the bonds, to receive the Bond <br />proceeds and to pay from such proceeds the fees and expenses of the following <br />persons in the following amounts incurred in connection with the issuance of the <br />Bonds upon receipt by the Registrar of a statement therefor: <br />Pam <br />Service <br />Performed <br />Amount <br />Ehlers and Associates, Inc. <br />Minneapolis, Minnesota <br />Moody's Investors <br />Service, Inc. <br />New York, New York <br />Financial <br />Consultant <br />Rating of Bonds <br />The claims of the above persons in the amounts set forth opposite the names of <br />such persons are hereby approved and no further action of this Council shall be <br />necessary in connection with the payment of such fees and expenses of issuance of <br />-19- <br />