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NOTE RESOLUTION <br />BE IT RESOLVED by the. City Council of the City of <br />Falcon Heights, Minnesota, as follows: <br />ARTICLE ONE <br />DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS <br />1-1. Definitions. <br />The terms used herein, unless the context hereof <br />shall require otherwise shall have the following meanings, and <br />any other terms defined in the Loan Agreement shall have the <br />same meanings when used herein as assigned to them in the Loan <br />Agreement unless the context or use thereof indicates another <br />or different meaning or intent. <br />Act: the Minnesota Municipal Industrial Development Act, <br />Minnesota Statutes, Chapter 474, as amended; <br />Assignment of Leases and Rents: the. agreement to be <br />executed -by the Borrower assigning all the leases, rents, <br />issues and profits derived from the Project to the Lender to <br />secure the repayment of the Note and interest thereon; <br />. Bond Counsel: a nationally recognized fi nn of bond <br />counsel experienced in tax exempt industrial revenue bonds <br />financing and any opinion of Bond Counsel s'nall be a written <br />opinion signed by such Counsel; <br />Borrower: Bullseye Golf Centers, Inc., a Minnesota <br />corporation, its successors, assigns, and any surviving, <br />resulting or transferee business entity which may assume its <br />obligations under the Loan Agreement; <br />City: the City of Falcon Heights, Minnesota, its <br />successors and assigns; <br />Construction Fund: the fund established by the City <br />pursuant to this Resolution and into which the proceeds of the <br />Note will be deposited; <br />Construction Loan Agreement: the agreement to be executed <br />by the City, the Borrower and the Lender, relating to the <br />disbursement and payment of Project Costs out of the <br />Construction Fund for the acquisition of the Land and the <br />construction and installation of the Improvements; <br />• <br />