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3. The Project is hereby given preliminary approval by <br />the City subject to the approval of the Project by the <br />Minnesota Department of Energy and Economic Development or such <br />state officer having authority to grant approval (the <br />"Department "), and subject to final approval by this Council, <br />Company, and the purchaser of the Revenue Bonds as to the ulti- <br />mate details of the financing of the Project; <br />4. In accordance with Subdivision 7a of Section 474.01 <br />Minnesota Statutes, the Mayor of the City is hereby authorized <br />and directed to submit the proposal for the Project to the <br />Department requesting its approval, and other officers, <br />employees and agents of the City are hereby authorized to <br />provide the Department with such preliminary information as it <br />may require; <br />5. Company has agreed and it is hereby determined that <br />any and all costs incurred by the City in connection with the <br />financing of the Project whether or not the Project is carried <br />to completion and whether or not approved by the Department <br />will be paid by Company; <br />6. Briggs and Morgan, Professional Association, acting as <br />bond counsel, is authorized to assist in the preparation and <br />review of necessary documents relating to the Project, to <br />consult with the City Attorney, Company and the purchaser of <br />the Revenue Bonds as to the maturities, interest rates and <br />other terms and provisions of the Revenue Bonds and as to the <br />covenants and other provisions of the necessary documents and <br />to submit such documents to the Council for final approval; <br />7. Nothing in this resolution or in the documents pre- <br />pared pursuant hereto shall authorize the expenditure of any <br />municipal funds on the Project other than the revenues derived <br />from the Project or otherwise granted to the City for this <br />purpose. The Revenue Bonds shall not constitute a charge, lien <br />or encumbrance, legal or equitable, upon any property or funds <br />of the City except the revenue and proceeds pledged to the <br />payment thereof, nor shall the City be subject to any liability <br />thereon. The holder of the Revenue Bonds shall never have the <br />right to compel any exercise of the taxing power of the City to <br />pay the outstanding principal on the Revenue Bonds or the <br />interest thereon, or to enforce payment thereof against any <br />4 <br />