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(e) The Preliminary Official Statement (together with the form of final Official Statement and the insertion of the final underwriting details of the Bonds, including the interest rates thereon, and any other changes deemed necessary or desirable, intended to constitute the form of the final Official Statement, and including all Appendices thereto (together the "Official Statement")), describing the offering of the Bonds, and certain terms and provisions of the foregoing documents relating to the Bonds. 3. Findings. It is hereby found, determined and declared that: (a) Based on the Borrower's representations to Issuer, the Project constitutes a project authorized by and described in the Act as elderly rental housing. (b) There is no litigation pending or, to the Issuer's actual knowledge, threatened against the Issuer relating to the Bonds, the Loan Agreement, the Bond Purchase Agreement or the Indenture (collectively, the "Issuer Bond Documents") or questioning the due organization of the Issuer, or the powers or authority of the Issuer to issue the Bonds and undertake the transactions contemplated hereby. (c) The execution, delivery and performance of the Issuer's obligations under the Issuer Bond Documents do not and will not violate any order of any court or other agency of government of which the Issuer is aware or in which the Issuer is a party, or any indenture, agreement or other instrument to which the Issuer is a party or by which it or any of its property is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or other instrument. (d) It is desirable that the Bonds be issued by the Issuer upon the terms set forth in the Indenture under the provisions of which the Issuer's interest in the Loan Agreement will be pledged to the Trustee as security for the payment of principal of, premium, if any, and interest on the corresponding series of Bonds. (e) Under the provisions of the Act, and as provided in the Issuer Bond Documents, the Bonds are not to be payable from nor charged upon any funds other than amounts payable pursuant to the Loan Agreement and moneys in the funds and accounts held by the Trustee which are pledged to the payment thereof; the Issuer is not subject to any liability thereon; no owners of the Bonds shall ever have the right to compel the exercise of the taxing power of the Issuer to pay any of the Bonds or the interest thereon, nor to enforce payment thereof against any property of the Issuer; the Bonds shall not constitute a general or moral obligation of the Issuer or a charge, lien or encumbrance, legal or equitable, upon any property of the Issuer (other than the interest of the Issuer in the Loan Repayments to be made by the Borrower under the Loan Agreement); and each Bond issued under the Indenture shall recite that such Bond, including interest thereon, shall not constitute or give rise to a charge against the general credit or taxing powers of the Issuer. 4. Approval and Execution of Documents. The forms of Bonds and the Issuer Bond Documents are approved. The Issuer Bond Documents and any other documents necessary in connection with the issuance of the Bonds are ~uthorized to be executed in the name and on behalf of the Issuer by the Mayor and the City Manager at such time, if any, as they may deem 203S10Svl 3