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<br />(f) The issuance of the Series 1988A Bonds is <br />authorized by the Act and it is necessary and <br />desirable that the Series 1988A Bonds in an amount <br />not to exceed $3,750,000 be issued by the City upon <br />the terms set forth in the Indenture, under the <br />provisions of which Indenture and the Assignment <br />the City's interest in the Loan Agreement, the <br />Mortgage and the payments thereunder will be <br />pledged to the Trustee as security for the payment <br />of principal and interest on the Series 1988A <br />Bonds. <br /> <br />(g) The Loan Agreement constitutes a "revenue <br />agreement" within the meaning of Section 469.153, <br />Subd. 9 of the Act. The payments required by the <br />Loan Agreement are fixed and required to be revised <br />from time to time as necessary, so as to produce <br />income and revenues sufficient to provide for <br />prompt payment of principal and purchase price of <br />and interest on all Series 1988A Bonds issued under <br />the Indenture when due, and the Loan Agreement also <br />provides that the Company is required to pay all <br />expenses of the operation and maintenance of the <br />project including, but without limitation, adequate <br />insurance thereon and insurance against all <br />liability for injury to persons or property arising <br />from the operation thereof, and all taxes and <br />special assessments levied upon or with respect to <br />the Project and payable during the term of the Loan <br />Agreement. <br /> <br />(h) Under the provisions of the Act, and as provided in <br />the Loan Agreement and Indenture, the Series 1988A <br />Bonds are not to be payable from nor charged upon <br />any funds other than the revenues pledged to the <br />payment thereof; the City is not subject to any <br />liability thereon (except with respect to such <br />revenues); no holders of the Series 1988A Bonds <br />shall ever have the right to compel any exercise of <br />the taxing powers of the City to pay any of the <br />Series 1988A Bonds or the interest thereon, nor to <br />enforce payment thereof_against any property of the <br />City; the Series 1988A Bonds shall not constitute a <br />charge, lien or encumbrance, legal or equitable <br />upon any property of the City (except with respect <br />to such revenues); each Series 1988A Bond issued <br />under the Indenture shall recite that the Series <br />1988A ~onds, including interest thereon, are <br />payable solely from the revenue pledged to the <br />payment thereof; and no Series 1988A Bond shall <br />constitute a debt of the City within the meaning of <br />any constitutional or statutory limitation. <br /> <br />3 <br />