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3. Authority of Municipal Advisor. Springsted Incorporated is authorized and directed to <br />negotiate the Bonds on behalf of the City in accordance with the Terms of Proposal. The City Council <br />will meet at 6:30 P.M. on Monday, October 24, 2016, to consider proposals on the Bonds and take any <br />other appropriate action with respect to the Bonds. <br />4. Authority of Bond Counsel. The law firm of Kennedy & Graven, Chartered, as bond <br />counsel for the City, is authorized to act as bond counsel and to assist in the preparation and review of <br />necessary documents, certificates and instruments relating to the Bonds. The officers, employees and <br />agents of the City are hereby authorized to assist Kennedy & Graven, Chartered in the preparation of such <br />documents, certificates, and instruments. <br />5. Covenants. In the resolution awarding the sale of the Bonds the City Council will set <br />forth the covenants and undertakings required by the Act. <br />6. Official Statement. In connection with the sale of the Bonds, the officers or employees of <br />the City are authorized and directed to cooperate with Springsted Incorporated and participate in the <br />preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon <br />its completion. <br />(The remainder of this page is intentionally left blank.) <br />3 <br />486415v1 JAE LN140-117 <br />