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MINNESOTA PUBLIC FACILITIES AUTHORITY <br />BOND PURCHASE AND PROJECT LOAN AGREEMENT <br />This BOND PURCHASE AND PROJECT LOAN AGREEMENT ("the Agreement"), is between the Minnesota <br />Public Facilities Authority (the "Authority") and the City of Lino Lakes ("Recipient") and is dated August <br />14, 2024. <br />Construction of a new 8.6 MGD iron and manganese gravity filtration water treatment plant and <br />associated facilities ("the Project"). The Project is further described and det 'led in the MN Department <br />of Health's certification(s) dated June 28, 2024 and August 9, 2024 the Recipient's Project <br />application which is incorporated herein. <br />Program Funding for the Project <br />Name <br />Legal citations <br />F <br />Amounts <br />Drinking Water State Revolving Fund <br />("the Loan") <br />MS446A.081; <br />-DW <br />$15,996,190 <br />Loan <br />MN Rules 7380� <br />X <br />.0250-.029 <br />Drinking Water State Revolving Fund <br />("the Principal <br />MS <br />MPFA-DWRF-E-023 FY <br />$3,000,000 <br />Principal Forgiveness Grant <br />Forgiveness <br />Grant") <br />Total Authority Project Financing: <br />$18,996,190 <br />ARTICLE 1— TERMS AND CONDITIONS <br />Section 1.1 Terms. (a) General: The Authority hereby commits, subject to the availability of funds and <br />the conditions and legal citations herein set forth, to provide EIGHTEEN MILLION NINE HUNDRED NINETY <br />SIX THOUSAND ONE HUNDRED NINETY DV#MRS ($18,996,190) to the Recipient for the purpose of <br />financing eligible costs of the Project. P, _ <br />(b) Loan: The Loan s ety <br />videnced by the dote described in Section 1.4 of this Agreement (the <br />"Note"). The finale of the Loan will be August 20, 2044. The aggregate principal amount of <br />the Loan disbursed a standing will bear interest and servicing fees collectively at the rate of 1.947% <br />per annum accruing from an(after the date of the Note through the date on which no principal of the <br />Loan remains unpaid and all accrued interest and servicing fees thereon have been paid. <br />I <br />(c) Grant(s): The Principal Forgiveness Grant is granted and is not required to be repaid except as <br />otherwise provided in Article 9 of this reement. <br />Section 1.2 Authority Sources of Funds. The Recipient acknowledges that the Authority may use the <br />proceeds of one or more series of the Authority's revenue bonds (the "Bonds"), federal capitalization <br />grants, proceeds of state general obligation bonds, state appropriations from the Clean Water Legacy <br />Fund, or other funds of the Authority, or a combination thereof, to fund the Agreement. <br />(b) At the written request of the Recipient, the Authority will provide information with respect to the <br />funding of the Agreement, from time to time. <br />(c) Allocation and pledging of Loan: The Authority may, at any time, pledge the Loan as security for its <br />Bonds. The Authority in its sole discretion may allocate the Loan to one or more sources of funds and <br />may from time to time reallocate the Loan to one or more different sources of funds, including one or <br />more different series of Bonds (whether or not that series of Bonds refunded the series of Bonds to <br />which the Loan was originally allocated), or may sell the Loan if permitted by the documents relating to <br />its Bonds. <br />Lino Lakes DWRF 01 <br />Page 1 of 12 <br />A-2 <br />