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i <br />? <br />C. The parties anticipate that the Project would <br />preserve jobs within the City and provide additional jobs and <br />employment opportunities for residents of the City, and that the <br />Project would improve the economic welfare of the City and its <br />people. <br />D. In order to obtain for the residents of the City <br />the benefit of the jobs, employment opportunities and economic <br />improvement which the acquisition, construction, rehabilitation, <br />installation and equipping of the Project would create and <br />preserve, the City desires to encourage and induce the Borrowers <br />to proceed with the Project. <br />NOW, THEREFORE, the City and the Borrowers agree as <br />follows: <br />1. At the request of the Borrowers, and subject to <br />the conditions hereinafter provided, the City will enact the <br />necessary resolutions to authorize the issuance of the Bonds and <br />execution on its behalf of the Financing Agreement, as hereafter <br />defined, and other necessary documents. The Bonds, the Financing <br />Agreement, the resolutions and other necessary documents shall <br />have such terms as shall be approved by Peck, Shaffer & Williams, <br />as bond counsel, and by the City, the purchaser(s) of the Bonds <br />and the Borrowers, and the City will deliver the Bonds to the <br />purchaser(s) thereof and will cooperate to the fullest extent in <br />consummating the transaction. <br />2. Pending issuance of the Bonds, the Borrowers will <br />provide without expense to the City any necessary interim <br />financing for the Project. The Borrowers also agree that upon <br />issuance of the Bonds for the Project they will enter into an <br />-2-