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of the proceeds of the Bonds to the Borrower will serve the public purposes referred to above, in <br />accordance with the Act. <br />SECTION 3. The Report and the Findings issued with respect the Projects are <br />hereby approved in the form attached hereto as Exhibit A. <br />SECTION 4. The Commission held a duly noticed hearing open to the public <br />and has subsequently considered whether the Projects will have an adverse effect on any similar <br />facilities already constructed and operating in or about the City, and makes the following special <br />findings of fact based upon the evidence presented: <br />(1) No member of the public or competitor has presented any evidence of any <br />kind establishing that the Projects would have any adverse competitive effect in any <br />respect. <br />(2) The benefits to the public clearly indicate that the Projects should be <br />supported by the issuance of the Bonds. <br />SECTION 5. All costs of the Projects incurred for planning, engineering, interest <br />paid during construction, consulting and underwriting expenses, attorney and bond counsel fees, <br />and acquisition, installation and equipping of the Projects will be permitted to be included as part <br />of the costs of the Projects to be financed out of the loan of the proceeds from the sale of the <br />Bonds to the extent permitted by the Act. <br />SECTION 6. All action taken and approvals given by the Commission with <br />regard to the Borrower, are based upon the evidence submitted and representations made by the <br />Borrower, its agents or counsel. No independent examination, appraisal or inspection of the <br />Projects was made, requested, or is contemplated by the Commission or the City. <br />BDDBOI 4176671v2 - 5 - <br />