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1993_1011_packet
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1993_1011_packet
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against all liability for injury to persons or property <br /> arising from the operation thereof, and all taxes and <br /> special assessments levied upon or with respect to the <br /> Project premises (as defined in the Indenture) and payable <br /> during the term of the Loan Agreement, Mortgage, Regulatory <br /> Agreement, Declaration and Indenture; and <br /> (h) under the provisions of Minnesota Statutes, <br /> Section 4620.07, and as provided in the .Loan Agreement and <br /> Indenture, the Bonds are not to be payable from or charged <br /> upon any funds other than the revenues pledged to the <br /> payment thereof; the City is not subject to any liability <br /> thereon; no holder of any Bonds shall ever have the right to <br /> compel any exercise by the City of its taxing powers to pay <br /> any of tht Bonds or the interest or premium thereon, or to <br /> enforce payment thereof against any property of the City <br /> except the interests of the City in the Loam Agreement which <br /> have been assigned to the Trustee under the Indenture; the <br /> Bonds shall not constitute a charge, lien or encumbrance, <br /> legal or equitable, upon any property of the City except the <br /> interests of the City in the Loan Agreement which have been <br /> assigned to the Trustee under the Indenture; the Bonds shall <br /> recite that the Bonds are issued without moral obligation on <br /> the part of the state or its political subdivisions, and <br /> that the Bonds, including interest thereon, are payable <br /> solely from the revenues pledged to the payment thereof; and <br /> the Bonds shall not constitute a debt of the City or its <br /> political subdivision within the meaning of any <br /> constitutional or statutory limitations <br /> S. Subject to the approval of the City Attorney and <br /> the provisions of paragraph 12 hereof, the forms of the <br /> Agreements and exhibits thereto and all other documents described <br /> in paragraph 6 hereof are approved substantially in the form <br /> submitted and on file in the office of the City Manager, with <br /> such subsequent changes as may be approved by the City and the <br /> City Attorney. The Agreements, in substantially the form <br /> submitted, are directed to be executed in the name and on behalf <br /> of the City by the Mayor and the or City Manager. Any other <br /> documents and certificates necessary to the transaction herein <br /> described shall be executed by the appropriate City officers. <br /> Copies of all of the documents necessary to the transaction <br /> herein described shall be delivered, filed and recorded as <br /> provided herein and in the Loan Agreement and Indenture, <br /> 99 The City hereby consents to the distribution of the <br /> Official Statements The City has not prepared nor made any <br /> I <br /> ndependent investigation of the information contained in the <br /> 249075 <br /> 5 <br />
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