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� °� . r o 0 �b. - C ITY of ORONO � ' ti � � '�' RESOLUTION OF THE CITY COUNCIL �L�kE Hp4�� . N O. 4 d� � '"� � . S Section 8.Authorization of Pavments. The City Treasurer is hereby authorized and directed on the date of issuance and delivery of the Bonds to pay from the proceeds of the sale of the Bonds the fees and expenses of the following persons incurred in connection with the issuance of the Bonds up to the maximum amount set forth opposite the name of such person upon receipt by the Authority of a satisfactory statement therefor: Service M�� payee Performed Amount Ehlers &Associates, Inc. � Minneapolis, Minnesota Financial Consultant � Firstar Bank of Minnesota,N. A. Trustee and Escrow Agent Dorsey &Whitney LLP Bond Counsel • Moody's Investors Service, Inc. Rating of Bonds The claims of the above persons up to the maximum amount set forth opposite the name of such person is hereby approved and no further action of this Board shall be necessary in connection with the payment of such fees and expenses of issuance of the Bonds. Section 9. Qualified Tax-Exempt Obli at� ions.In order to enhance the marketability of the Bonds, and since the Authority and all subordinate entities do not reasonably expect to issue in excess of$10,000,000 of governmental and qualified 501(c)(3)bonds during calendar year 1998, the Bonds are hereby designated by the Authority as "qualified tax-exempt obligations" pursuant to Section 265(b) of the Code. � Section 10. Redemption of Refunded Bonds and Certification of Proceedin�s. (a) The Secretary is directed to call the Refunded Bonds for redemption arid prepayment at their earliest permissible redemption date (February 1, 2001) and to give notice of � redemption in accordance with the resolution authorizing the issuance of the Refunded Bonds. Page 5 of 7 �