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If the Disclosure Information is so amended, the City agrees to provide, <br /> • contemporaneously with the effectiveness of such amendment, an explanation of the reasons for <br /> the amendment and the effect, if any,of the change in the type of financial information or <br /> operating data being provided hereunder. <br /> (3) This Section 7 is entered into to comply with the continuing disclosure provisions of <br /> the Rule and should be construed so as to satisfy the requirements of paragraph (b)(5)of the <br /> Rule. <br /> Section 8. Authorization of Payment of Certain Costs of Issuance of the Bonds. <br /> The City authorizes the Purchaser to forward the amount of Bond proceeds allocable to the <br /> payment of issuance expenses to Resource Bank& Trust Company,Minneapolis, Minnesota, on <br /> the closing date for further distribution as directed by the City's financial advisor, Ehlers & <br /> Associates, Inc. <br /> 1 <br /> Attest: Mayor <br /> • City Clerk <br /> ri <br /> The motion for the adoption of the foregoing resolution was duly seconded by <br /> Councilmember Stille, and upon vote being taken thereon, the following voted in favor thereof: <br /> Hodson, Faust, Horst, Stille, Thuesen <br /> and the following voted against the same: <br /> None <br /> whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor <br /> which signature was attested by the City Clerk. <br /> • <br /> -19- <br />