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• 1.103-14 and 1.103-15 of the Regulations, stating the facts, <br />estimates and circumstances in ezistence on the date of issue <br />and delivery of the Notes which make it reasonable to expect <br />that the proceeds of the Notes will not be used in a manner <br />that would cause the Notes to be arbitrage bonds within the <br />meaning of the Code and Regulations. <br />• <br /> <br />Section 6. Official Statement. The Official <br />Statement relating to the Notes, dated February 6, 1990, <br />prepared and distributed on behalf of the City by Ehlers and <br />Associates, Inc. is hereby approved. The officers of the City <br />are hereby authorized and directed to execute such certificates <br />as may be appropriate concerning the accuracy, completeness and <br />sufficiency of the Official Statement. <br />Section 7. Authorization of Receipt of Note Proceeds <br />and Payment of .Certain Costs of Issuance of t~e!lvote. The <br />Registrar is hereby authorized and directed, on the date of <br />issuance and delivery of the Notes, to receive the Note <br />proceeds and to pay from such proceeds the fees and ezpenses of <br />the following persons in the following amounts incurred in <br />connection with the issuance of the Notes upon receipt by the <br />Registrar of a statement therefor: <br />Service <br />Performed 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 $5,960 <br />Rating of Bonds 2,234 <br />American National Bank Registrar and <br />and Trust Company Paying Agent 550 <br />Saint Paul, Minnesota <br />The claims of the above persons in the amounts set forth <br />opposite the names of such persons are hereby approved and no <br />further action of this Council shall be necessary in connection <br />with the payment of such fees and ezpenses of issuance of the <br />-14- <br />