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will be to enoourage the provision of additional multifamily rental housing opportunities to residents of the city, and to promote more intensive development and use of la.nd within t.he city. 4. Future Annrovals. The Project, and the program. to finance the Projeot. by the issuance of revenue bOnds, is hereby given preliminary approval by the city sUbject to final approval by tho. City, company and purchasers of the Bonds as to ultimate detailS of the financing ot the Project. 5. C01D.nanv to pav. Qpsts. The Company has agreed, and it. is hereby determined that, anf and all costs incurred by the City in connection wit.h the financ1ng of tho. Project, whether or not the Project is oarried to complotion, will be paid by the CO'PiPany. 6. ~ssistance wi~h Docu~ents. Briggs and Morgan, Professional Association, actinq as bond counsel, and A.H. Williams , Co. Incorpor~ted, acting a$ investment bankers selected by the City with the consent of the Company, are authorized to assist in the preparation and review of necessary docuaents relating to the Project and the tinancing program therefor, to oonsult with the city Attorney, Company and purohasers of the Bonds (or the truetee for the purchasers of the Bonds) as to the maturities, interest rates and other terms and provisions of the Bonds and as to the covenants and other provisions of the necessary documente and to submit Quoh doouments to the city for final approval. 7. RevAnue Obligations. Nothing in this Resolution or the documents prepared pursuant hereto shall authorize the expenditures of any municipal funds on the Project other than the revenues derived from the Project or otherwise granted to the city for this purpose. The Bonds shall not constitute a charge, lien o-r encU1Db-ranoe, legal or equU:able, upon any property or funds of the city except the revenue and proceeds pledqed to the payment thereof, nor shall the city be subject to any liability thereon. The holder of the Bonds shall never have the right to compel any exercise of the taxing power of the city to pay the out8tandinq principal of the Bonds or the interest thereon, or to enforce payment thereon against any property of the city. The Bonds shall recite in substa.noe that the Bonds, includinq the interest thereon, are payable solely from the revenue and proceeds pledged to the payment thereOf. The Bonds shall not constitute a debt of the City within the meaninq of any constitution or statutory limitation. 8. Authorization tor B)(penditures. In antioipation of the and the issuance of the Bond5 to finance all or a portion of the Project, and in order that oompletion of the Project will not be unduly delayed when approved, the CODpany is hereby authorize~ to 245954 .. 9 39t1d l"OH ~z:!;;t ~6""81"80(031'1) dS Htl9~OW S99I~8 WO~~