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taxing power of the State of Washington or of the City of Everett shall be pledged to pay the <br /> principal or interest on the Bonds. <br /> Section 4: The City of Everett hereby approves the issuance of Bonds by WEDFA for the <br /> purpose of financing the Project as described herein, a qualified project under the Act. However, <br /> such approval shall not waive any of the permitting requirements applicable to this project. <br /> Section 5: This Resolution is intended to constitute approval of the issuance of revenue <br /> bonds within the meaning of the policy of the Washington Economic Development Finance <br /> Authority. <br /> Section 6: Upon passage and approval of this Resolution, it shall take effect immediately. <br /> . ( , <br /> Councilman Introducing Resolution <br /> Council President <br /> Passed and approved this 24 day of September, 2003 <br /> Page 2 of 2 <br />