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Last modified
8/1/2008 12:38:03 PM
Creation date
8/1/2008 12:36:12 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
3/17/2008
Meeting Type
Regular
Resolution #
10606A
Resolution Title
RESOLUTION APPROVING THE ISSUANCE AND SALE OF THE 7,000,000 EDUCATIONAL FACILITIES REVENUE NOTE, SERIES 2008 CONCORDIA ACADEMY ASSOCIATION OF SCHOOLS PROJECT PROJECT)
Resolution Date Passed
3/17/2008
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3.5 Limitation of Liability. No agreements or provisions contained in this resolution nor any <br />agreement, covenant, or undertaking by the City in connection with the issuance, sale and delivery of the <br />Note shall give rise to any pecuniary liability of the City or a charge against its general credit, or shall <br />obligate the City financially in any way, except as may be payable from the revenues pledged hereby for <br />the payment of the Note and their application as provided herein. No failure of the City to comply with any <br />term, covenant, or agreement contained herein or in the Note, the Loan Agreement or in any document <br />executed by the City in connection with the issuance and sale of the Note, shall subject the City to liability <br />for any claim for damages, costs, or other financial or pecuniary charge, except to the extent that the same <br />can be paid or recovered from the revenues pledged for the payment of the Note. Nothing herein shall <br />preclude a proper party in interest from seeking and obtaining, to the extent permitted by law, specific <br />performance against the City for any failure to comply with any term, condition, covenant or agreement <br />contained in, or any obligations imposed upon the City, or the breach thereof. In making the agreements <br />and provisions set forth in this resolution, the City has not obligated itself, except with respect to the <br />application of the revenues pledged for the payment of the Note hereunder. <br />Adopted by the City Council of the City of Roseville, Minnesota, this 17th day of March, 2008. <br />r <br />Mayor <br />Attest: <br />City Mana e <br />Page 9 of 10 <br />
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