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2 <br />476794v1 JAE LN140-114 <br /> 1. The Preliminary Development Agreement in substantially the form presented to the <br />Board and on file with the Community Development Director of the City is hereby in all respects <br />approved, subject to modifications that do not alter the substance of the transaction and that are <br />approved by the President and Executive Director; provided that execution of such documents by <br />such officials shall be conclusive evidence of approval. <br /> <br /> 2. The President and Executive Director are hereby authorized to execute the <br />Preliminary Development Agreement on behalf of the Authority and to carry out on behalf of the <br />Authority the Authority’s obligations thereunder. <br /> <br /> <br />Adopted by the Board of Commissioners of the Lino Lakes Economic Development Authority this <br />11th day of April, 2016. <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Board Member <br />_______________and was duly seconded by Board Member ________________ and upon vote <br />being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br /> <br /> <br />William Kusterman, President <br /> <br />ATTEST: <br /> <br /> <br /> <br />Jeff Karlson, Executive Director