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1 <br />Member _____________ introduced the following resolution and moved its adoption: <br />RESOLUTION AUTHORIZING SUBMISSION OF US EPA WIFIA APPLICATION <br />WHEREAS, on July 5, 2019, the Metro Flood Diversion Authority (the “Authority”) <br />submitted its Letter of Intent (“LOI”) to the United States Environmental Protection Agency (“US <br />EPA”) requesting credit assistance in the form of a US EPA WIFIA loan; and <br />WHEREAS, on October 10, 2019, the Authority was selected to submit a credit <br />application for credit assistance up to $561,000,000 from the US EPA WIFIA program; and <br />WHEREAS, Bond Counsel for the Authority, John T. Shockley, has coordinated with <br />Authority financial advisors, technical consultants, and staff to draft and prepare an application for <br />credit assistance from the US EPA WIFIA program; and <br />WHEREAS, the estimated savings to the Authority of a US EPA WIFIA loan is estimated <br />to be a minimum of $572,000,000; and <br />WHEREAS, the Authority has determined that it is in the best interests of the Authority <br />to submit its credit application for credit assistance of up to $561,000,000 from the US EPA WIFIA <br />program. <br />NOW, THEREFORE, BE IT RESOLVED by the governing body of the Authority: <br />Section. 1. Authorization to Submit Credit Application. Bond Counsel for the <br />Authority, John T. Shockley, is hereby authorized to submit a credit application to the US EPA <br />WIFIA program. <br />Section 2. North Dakota Law Applies. This Resolution and any transactions <br />contemplated herein will be controlled by the laws of the State of North Dakota. <br />Section 3. Electronic Signatures. Electronic signatures to this Resolution shall be as valid as an original signature of Authority and shall be effective to bind the Authority to this Resolution. For purposes hereof: (i) “electronic signature” means a manually signed original signature that is then transmitted by electronic means; and (ii) “transmitted by electronic means” means sent in the form of a facsimile or sent via the internet as a portable document format (“pdf”) <br />or other replicating image attached to an electronic mail or internet message. <br />Section 4. This Resolution shall take effect immediately upon adoption. <br />(Remainder of page intentionally left blank.)