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Commissioner introduced the following resolution and moved its adoption, which motion was seconded by Commissioner RESOLUTION RELATING TO PUBLIC FACILITIES LEASE REVENUE BONDS, SERIES 2003 (CITY OF ST. ANTHONY ANNUAL APPROPRIATION LEASE OBLIGATIONS); AUTHORIZING THE ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT THEREOF BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of St. Anthony (the "Authority"), as follows: Section 1. AUTHORIZATION AND SALE. 1.01. Authorization. The City of St. Anthony, Minnesota(the "City") desires to provide adequate public safety facilities and has determined that the most efficient way to do so is to lease-purchase the facilities pursuant to the authority granted by Minnesota Statutes, Section 471.65. Acting pursuant to the provisions of Minnesota Statutes, Section 469.012, subdivision 1(7), the Authority would have the power to acquire real property,'by lease or otherwise, and construct the proposed facilities for lease to the City. Pursuant to Minnesota Statutes, Section 469.033, and Chapter 475, the Authority would further have the power to issue revenue bonds to provide the funds necessary for the acquisition, construction and furnishing of the facilities. Pursuant to the foregoing authority, the Authority proposes to undertake the acquisition, construction and furnishing of a public works facility and a fire station (herein the "Facilities") and to finance the cost thereof by the issuance of its revenue bonds (the `Bonds") under this Resolution and a Mortgage, Security Agreement and Indenture of Trust, to be dated as of July 1, 2003 (the "Indenture"), between the City and U.S. Bank National Association, in St. Paul, Minnesota, as trustee (the "Trustee"). The Facilities will be located on land ground leased by the City to the Authority pursuant to a Ground Lease, to be dated as of July 1, 2003 (the "Ground Lease"). The Authority proposes to lease the Facilities to the City pursuant to a Lease Agreement, to be dated as of July 1, 2003 (the "Lease"), between the Authority, as lessor, and the City, as lessee. All bonds issued under this Resolution and the Indenture will be secured solely by rental payments to be made by the City pursuant to the Lease, and funds held by the Trustee under the Indenture, and said bonds and the interest on said bonds shall be payable solely from the revenue pledged therefor under the Indenture and no such bonds shall constitute a debt of the Authority or the City within the meaning of any constitutional or statutory limitation nor shall constitute nor give rise to a pecuniary liability of the Authority or City or a charge against their general credit or taxing powers and shall not constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the Authority or City, other than the revenues pledged to the payment of the bonds under the Indenture. Under the Lease, and subject to the right of termination by the City at the end of each fiscal year of the City as provided in the Lease, the City is to pay to the Authority sufficient money each year to pay the principal of, premium, if any, and interest on the Bonds issued under