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2. The issuance and sale of said bonds shall be upon <br />such terms and conditions as may be mutually agreed upon by <br />the City, the Developer and the purchaser of said Bonds and <br />shall be issued by resolution of the City Council at a <br />meeting duly held and conducted for such purpose. <br />3. The proceeds of the Bonds shall include such <br />related and necessary issuance expenses, administrative <br />costs, debt service reserves and interest payments as may be <br />required to accomplish successfully the financing. <br />4. The City Council does hereby find that the <br />adoption of this Resolution constitutes a substantial <br />inducement to the Developer to undertake its Project within <br />the City. <br />5. This Resolution shall take effect immediately upon <br />its passage and adoption. <br />ADOPTED, this 14th day of March <br />Gordon BricRb n, Mayor <br />ATTEST: <br />anice C. Guy, 9Aer} o e Council <br />COUNCILMEMBERS: <br />1983. <br />Bricken Absent <br />Luxembourger Aye <br />Acosta Aye <br />Serrato Aye Approved as to form: <br />Markel Aye _ <br />Markel Nay ��K�j!Jo <br />McGuigan Aye <br />Edward J. oop r, City Attorney <br />