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76978909v3 <br /> <br /> <br /> <br /> <br />Use of Bond Proceeds. The proceeds of the Bonds will be loaned to the Borrower pursuant <br />to a loan agreement (the "Loan Agreement") by and between the City and the Borrower. The <br />Borrower will be required, pursuant to the Loan Agreement, to make payments sufficient to pay <br />when due the principal of, premium, if any, and interest on the Bonds. <br />Project Costs. The costs of the Project and the program of financing the Project, including <br />specifically the costs of the City, generally will be paid or reimbursed by the Borrower. <br /> <br />Adopted by the City of Little Canada, Minnesota on April 26, 2023. <br />