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<br />. <br /> <br />City or its power or authority to issue the Bond or execute <br />and deliver the Loan Agreement and the Loan Agreement <br />Assignment. <br /> <br />(e) The execution, delivery and performance of the <br />City's obligations under the Bond, the Loan Agreement and <br />the Loan Agreement Assignment have been fully authorized by <br />all requisite action and do not and will not violate any <br />charter provision or any order of any court or other agency <br />of government, or any indenture, agreement or other <br />instrument to which the City is a party or by which it or <br />any of its property is bound, or be in conflict with, result <br />in a breach of, or constitute (with due notice or lapse of <br />time or both) a default under the city charter or any such <br />indenture, agreement or other instrument. <br /> <br />(f) The Loan Agreement provides for payments by the <br />Borrower to the Lender for the account of the City of such <br />amounts as will be sufficient to pay the principal of, <br />premium, if any, and interest on the Bond when due. No <br />reserve funds have been deemed necessary for this purpose. <br />The Loan Agreement obligates the Borrower to provide for the <br />operation and maintenance of the project facilities, <br />including provision for adequate insurance and taxes. <br /> <br />. <br /> <br />(g) Under the provisions of the Act, the Bond is not <br />to be payable from nor charged upon any funds other than <br />amounts payable by the Borrower pursuant to the Loan <br />Agreement, which amounts are pledged to the payment thereof, <br />and moneys derived from foreclosure or other enforcement of <br />the Mortgage or the Lease Assignment; no Holder of the Bond <br />shall ever have the right to compel the exercise of the <br />taxing power of the City to pay the Bond or the interest <br />thereon, nor to enforce payment thereof against the general <br />funds or property of the City, other than the City's <br />interest in the Loan Agreement assigned to the Lender <br />pursuant to the Loan Agreement Assignment; the Bond shall <br />not constitute a charge, lien or encumbrance, legal or <br />equitable, upon any property of the City; and the Bond does <br />not constitute an indebtedness of the City within the <br />meaning of any constitutional, statutory or charter <br />limitation. <br /> <br />(i) No member of the City Council (i) has a direct or <br />indirect interest in the project, the Loan Agreement, <br />(ii) owns any capital stock of or other interest in the <br />project or the Borrower, (iii) is an officer or director of <br />the Borrower, (iv) will be involved in supervising the <br />completion of the Project, or (v) will receive any <br />commission, bonus or other remuneration for or in respect of <br />the Project or the Loan Agreement. <br /> <br />. <br /> <br />-3- <br />