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E.The applicant for bond financing and the applicant's chosen bond underwriter, <br />placement agent or lender shall hold the City and its respective officers, <br />consultants, and agents harmless from any alleged or actual violations of any <br />securities laws, state or federal, in connection with the issuance of bonds for the <br />project. In addition, the City shall not be held responsible for any debt repayment <br />of the bond issue or other costs relating to the project to be financed, should it fail <br />financially for any reason. <br />F.The City is to be reimbursed and held harmless for and from any out -of- pocket <br />expenses related to the bonds including, but not limited to, legal fees, financial <br />analyst fees, bond counsel fees, the City staffs expenses in connection with the <br />application, and any deposits or application fees required under state law in order to <br />secure allocation of bonding authority. The applicant must execute a letter to the <br />City undertaking to pay all such expenses. A form of the required letter is set forth <br />in Exhibit C. <br />G. If the City determines that issuance of the bonds requested by the applicant is <br />reasonably expected to cause governmental bonds issued by the City in that <br />calendar year to be ineligible for designation as "qualified tax exempt obligations" <br />under Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (also <br />known as "bank qualified "), the applicant will be required to reimburse the City, <br />at the time of issuance of the City' s bonds, for any interest rate differential <br />between bank qualified and non -bank qualified bonds. <br />H. Applications for financing must be made on the forms attached to this Private <br />Activity Revenue Bond Policy. <br />I.The applicant must deposit all required fees on a timely basis. <br />J.The Council may, in its sole discretion, impose conditions exceeding those required <br />under the City building code in respect to exterior building materials, landscaping, <br />signage lighting, and such other aspects as the Council may consider appropriate on <br />a case -by -case basis. <br />K. The Council may, in its sole discretion, withdraw its preliminary approval of a <br />project any time if in its judgment the purposes of the Industrial Development Act or <br />the Housing Act will not be served by going forward with the project and its <br />financing. <br />III. TYPES OF PROJECTS <br />1.Manufacturing / Industrial Facilities <br />Bonds for manufacturing facilities are issued under the Industrial Development Act and <br />either Section 144(a) or Section 141 of the Internal Revenue Code, as amended (the "Code "). In <br />Page 2