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<br />Indenture; the Bonds shall not constitute a <br />charge, lien or encumbrance, legal or equitable <br />upon any property of the City except the interests <br />of the City in the Loan Agreement which have been <br />assigned to the Trustee under the Indenture; the <br />Bonds shall recite that the Bonds are issued <br />without moral obligation on the part of the state <br />or its political subdivisions, and that the Bonds, <br />including interest thereon, are payable solely <br />from the revenues pledged to the payment thereof: <br />and, the Bonds shall not constitute a debt of the <br />City within the meaning of any constitutional or <br />statutory limitation. <br /> <br />7. Subject to the approval of the City Attorney and <br />the provisions of Section 10, the forms of the Loan Agreement, <br />the Bond Purchase Agreement and Indenture and exhibits thereto <br />and all other documents described in paragraph 4 hereof are <br />approved substantially in the form submitted except as <br />otherwise provided in paragraph 7 hereof. The Loan Agreement <br />and Indenture, in substantially the form submitted, are <br />directed to be executed in the name and on behalf of the City <br />by the Mayor and the Ci ty Manager. The Bond Purchase Agreement <br />and any other documents and certificates necessary to the <br />transaction described above shall be executed by the <br />appropriate City officers. Copies of all of the documents <br />necessary tv the transaction herein described shall be <br />delivered, filed and recorded as provided herein and in said <br />Loan Agreement and Indenture. <br /> <br />8. The City hereby finds that the information in the <br />section of the Official Statement captioned "The Issuer" does <br />not contain any untrue statement of a material fact or omit to <br />state any fact which is necessary to make the statements made <br />therein not misleading and hereby approves in substantially the <br />form submitted to the City Council at this meeting such <br />information for inclusion in the Official Statement; and the <br />City hereby ratifies, confirms and consents to the use of said <br />section in the Official Statement in connection with the sale <br />of the Bonds. The City has not prepared nor made any <br />independent investigation of the information contained in the <br />Official Statement other than the section therein captioned <br />"Issuer," and the City takes no responsibility for such <br />in fo rma tion . <br /> <br />9. The City shall proceed forthwith to issue its <br />Bonds, in the form and upon the terms set forth in the <br />Indenture. The offer of the Bond Purchaser to purchase the <br />Bonds for $9,l67,SOO plus accrued interest to the date of <br /> <br />5 <br />