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" provided that nothing herein shall be deemed to authorize the Applicant to obligate the Issuer /~--'"", without its consent in ea~h instance to the payment of any moneys or the performance of any acts in connection with the Project. The Issuer agrees that the Applicant may be reimbursed from the proceeds of the Bonds for all costs incurred by the Applicant, insofar as such costs are proPerly reimbursable under the Act and other applicable state and federal laws. 4. . All costs and expenses in connection with the financing and the Project, including the fees and expenses of the Issuer, its legal counsel, its fmancial advisor and Bond Counsel, shall be paid from the proceeds of the Bonds or funds provided by the Applicant. Iffor any reason the Bonds are not Issued, it is understood that all such expenses shall be paid by the Applicant and that the Issuer shall have no responsibility therefor. 5. At the request of the Applicant, the Issuer hereby appoints Mays & Valentine, L.L.P. as bond counsel to supervise the proceedings and approve the issuance of the Bonds. /~~ 6. In adopting this. Resolution, the Issuer intends to take "official action" toward the issuance of the Bonds and to evidence its "official intent" to reimburse from the proceeds of the Bonds any expenditures paid by the Applicant to finance the Project before the issuance of the Bonds, all within the meaning of regulations issued by the Internal Revenue Service pursuant to Sections 103 and 141 through 150 and related sections of the Code. 7. The Issuer hereby recommends and requests that the City Council of the City of Alexandria, Virginia (the "Council") approve the issuance of the Bonds within sixty days of the date of the adoption of this Resolution. The Issuer hereby directs the Secretary of the Issuer to submit to the Council this Resolution, the Applicant's Fiscal Impact Statement, and a summary of the public hearing held by the Issuer prior to the adoption of this Resolution. -4-