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(c) pursuant to Section 265(b)(3)(C)(iii) of the Code, the City states that it is <br />receiving the benefits from the issuance of the City's Bonds and the City hereby <br />irrevocably agrees (solely for purposes of said Section 265(b)(3) of the Code) <br />with the other Member Cities of the Commission to the foregoing respective <br />allocations of the principal amount of the Bonds and further agrees and finds that <br />said allocation bears a reasonable relationship to the respective benefits received. <br />Nothing in this paragraph is intended or shall be interpreted to limit or alter the respective <br />percentage shares of the Member Cities or their respective allocations of debt service <br />obligations on the Bonds, as those may be determined in accordance with the Agreement <br />for 2003 or any subsequent year. <br />11. This Resolution, and the amendments made to the Agreement, shall be construed to <br />authorize the Commission to contract for and purchase real estate, as part of the Project. <br />12. The City officers are authorized to take such actions as may be necessary or desirable to <br />implement the approvals given in this Resolution, including the execution on behalf of <br />the City of an amendment to or an amendment and restatement of the Agreement and, <br />upon request, providing to the Commission or bond counsel for the Bonds certifications <br />of this Resolution or certifications of facts and circumstances of the City as may be <br />pertinent in connection with the issuance of the Bonds. This Resolution shall be effective <br />immediately. <br />Passed and adopted this )1/ f^ day of <br />ATTEST: <br />C,1) C v <br />, 2003. <br />CITY OF LINO LAKES, MINNESOTA <br />By: <br />Its: <br />C,,,c, I wt c M S ev Z a & 1 moved the adoption of the foregoing Resolution, and <br />Councilmember 8e r s u,,._. duly seconded that motion. Upon a vote being taken <br />thereon the following mebers of the Council voted in favor thereof: <br />Ua�1) 8ZDOCS01e 1Z.tinev �\ <br />and the following voted against the same: <br />ANAL• <br />Whereupon said Resolution was declared duly passed and adopted. <br />C4,1S6l.. D ' Ub t' a /f • <br />6 <br />