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'v <br /> penalty. No partial prepayment shall affect the amount or timing of any other regular <br /> payment otherwise required to be made under this Interfund Loan. <br /> (e) The Interfund Loan is evidence of an internal borrowing by the City in <br /> accordance with Minnesota Statutes, Section 469.178, Subd. 7, and is a limited obligation <br /> payable solely from tax increment pledged to the payment hereof under this resolution. <br /> The Interfund Loan and the interest hereon shall not be deemed to constitute a general <br /> obligation of the State of Minnesota or any political subdivision thereof, including, <br /> without limitation, the City. Neither the State of Minnesota, nor any political subdivision <br /> thereof shall be obligated to pay the principal of or interest on the Interfund Loan or other <br /> costs incident hereto except out of tax increment, and neither the full faith and credit nor <br /> the taxing power of the State of Minnesota or any political subdivision thereof is pledged <br /> to the payment of the principal of or interest on the Interfund Loan or other costs incident <br /> hereto. The City shall have no obligation to pay any principal amount of the Interfund <br /> Loan or accrued interest thereon, which may remain unpaid after the termination of the <br /> TIF District. <br /> (f) The City may amend the terms of the Interfund Loan at any time by <br /> resolution of the City Council, including a determination to forgive the outstanding <br /> principal amount and accrued interest to the extent permissible under law. <br /> PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS <br /> THIS 161h DAY OF DECEMBER,2019. <br /> Mayor <br /> Attest: - �v <br /> City Administrator <br /> 4 <br />