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� K - � � <br /> 2 . 2 . The Project is hereby approved by the City and the issuance <br /> • of additional Notes in the amount not to exceed $250 , 000 is hereby <br /> authorized and approved, subject to the approval of the Project <br /> by the Commissioner of Securities and to the mutual agreement of <br /> this Council , the First National Bank of Navarre, Mr. Delan.ey and/ <br /> or the Partnership as to the details of the Notes and provisions <br /> for their payment. In all events , it is understood, however, that <br /> the Notes of the City shall not constitute a charge , lien or en- <br /> cumbrance, legal or equitable, upon any property of the City, ex- <br /> cept the Project, and each Note, when, as and if issued, shall <br /> recite in substance that the Note, including interest thereon, is <br /> payable solely from the revenues received from the Project and � <br /> property pledged to the payment thereof, and shall not constitute <br /> a debt of the City. <br /> 2 . 3 . The forms of the Application to the Commissioner of Secur- <br /> ities , with attachments , and the First Supplemental Memorandum <br /> of Agreement, as presented to this Council , are hereby approved, <br /> and the Mayor and City Clerk are authorized to execute said doc- <br /> uments on behalf of the City , with such changes therein as are <br /> approved by the Mayor and City Clerk and the City Attornev. <br /> 2 . 4 . In accordance with Section 474 . 01, Subdivision 7a � of the <br /> Act, the Mayor and City Clerk are hereby authorized and directed <br /> to cause said Application to be submitted to the Commissioner of <br /> Securities for approval of the Project. The Mayor, City Clerk, <br /> • City Attorney and other officers , employees and agents of the <br /> City are hereby authorized and directed to provide the Commis- <br /> sioner• with any preliminary information the Commissioner may need <br /> for this purpose, and the City Attorney is authorized to initiate <br /> and assist in the preparation of such documents as may be appro- <br /> priate to the Project, if it is approved by the Commissioner. <br /> / � _ <br /> ��/� � /l�.? '�. <br /> Mayor <br /> %� <br /> Attes ` � � <br /> ity Clerk <br /> • <br /> y <br /> -3- <br />