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• Post- Issuance Compliance Procedure and Policy for Tax- Exempt Governmental Bonds • • The City of Lino Lakes, Minnesota (the "Issuer ") issues tax - exempt governmental bonds ( "TEBs ") to finance capital improvements. As an issuer of TEBs, the Issuer is required by the terms of Sections 103 and 141 -150 of the Internal Revenue Code of 1986, as amended (the "Code "), and the Treasury Regulations promulgated thereunder (the "Treasury Regulations "), to take certain actions after the issuance of TEBs to ensure the continuing tax- exempt status of such bonds. In addition, Section 6001 of the Code and Section 1.6001 -1(a) of the Treasury Regulations impose record retention requirements on the Issuer with respect to its TEBs. This Post - Issuance Compliance Procedure and Policy for Tax - Exempt Governmental Bonds (the "Policy ") has been approved and adopted by the Issuer to ensure that the Issuer complies with its post - issuance compliance obligations under applicable provisions of the Code and Treasury Regulations. 1. Effective Date and Term. The effective date of this Policy is the date of approval by the City Council of the Issuer (October 22, 2012) and this Policy shall remain in effect until superseded or terminated by action of the Board of Commissioners of the Issuer. 2. Responsible Parties. The Finance Director of the City of Lino Lakes, Minnesota (the "Compliance Officer ") shall be the party primarily responsible for ensuring that the Issuer successfully carries out its post - issuance compliance requirements under applicable provisions of the Code and Treasury Regulations. The Compliance Officer will be assisted by the staff of the Finance Department of the Issuer and by other Issuer staff and officials when appropriate. The Compliance Officer of the Issuer will also be assisted in carrying out post- issuance compliance requirements by the following organizations: (a) Bond Counsel (as of the date of approval of this Policy, bond counsel for the Issuer is Kennedy & Graven, Chartered); (b) Financial Advisor (the person, organization, or officer of the Issuer primarily responsible for providing financial advisory services to the Issuer; as of the date of approval of this Policy, the financial advisor of the Issuer is Springsted Incorporated); (c) Paying Agent (the person, organization, or officer of the Issuer primarily responsible for providing paying agent services for the Issuer); and (d) Rebate Analyst (the organization primarily responsible for providing rebate analyst services for the Issuer). The Compliance Officer shall be responsible for assigning post- issuance compliance responsibilities to other staff of the Issuer, Bond Counsel, Paying Agent, and Rebate Analyst. The Compliance Officer shall utilize such other professional service organizations as are necessary to ensure compliance with the post - issuance compliance requirements of the Issuer. The Compliance Officer shall provide training and educational resources to Issuer staff responsible for ensuring compliance with any portion of the post - issuance compliance requirements of this Policy. 3. Post - Issuance Compliance Actions. The Compliance Officer shall take the following post- issuance compliance actions or shall verify that the following post- issuance compliance actions have been taken on behalf of the Issuer with respect to each issue of TEBs: 410220v1 SJB LN140 -108