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O = O / CITY of ORONO �•4 ir4i �G/� RESOLUTION OF THE CITY COUNCIL N Jes11.� NO. 4 7 0 5 (h) a form of the Official Statement (the "Official Statement"), to be completed,describing the offering of the Bonds and certain terms and provisions of the documents recited herein. 4. Authorization of Bonds. The City hereby authorizes the issuance of the Bonds under the Act and the Indenture, the sale of the Bonds to the Underwriter in accordance with the Bond Purchase Agreement and the loan of the proceeds of the Bonds to the Owner in accordance with the Loan Agreement. 5. Authorization of Documents Presented. The forms of the Bond Documents are approved, with such additions or modifications thereto and deletions therefrom as may be approved by the Mayor,the City Clerk,the Finance Director or the City Administrator prior to the execution and delivery thereof, such approval to be conclusively evidenced by the execution and delivery thereof by the appropriate officers of the City. 6. Execution and Delivery of Bonds. The City is hereby authorized to issue one or more series of Bonds in an aggregate principal amount not to exceed$9,000,000, in the form and upon the terms set forth in the Indenture, which terms are for this purpose incorporated in this resolution(the"Final Resolution")and made a part hereof; provided, however, that the maturities of the Bonds, the interest rates thereon, the numl Bring, and the rights of optional redemption with respect thereto shall all be as set forth in the final form of Indenture to be approved, executed and delivered by the officers of the City authorized to do so by the provisions of this Final Resolution,which approval shall be conclusively evidenced by such execution and delivery; and provided further that, in no event, shall such maturities exceed 35 years or such rates of interest produce an average net interest cost in excess of 7.50%per annum.The Underwriter has agreed pursuant to the provisions of the Bond Purchase Agreement, and subject to the conditions therein set forth, to purchase the Bonds at the purchase price set forth in the Bond Purchase Agreement, and said purchase price is hereby accepted. The Mayor,the City Clerk, the Finance Director, the City Administrator and other officers of the City are authorized in their discretion, at such time, if any, as they may deem appropriate,to execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee, together with a certified copy of this Final Resolution and the other documents required by Section 2.08 of the Indenture, for authentication, registration and delivery to the Underwriter. Page 3 of 6