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(e� the Bond Purchase Agreement; and (� the Preliminary Official Statement. The Loan Agreement, Indenture and Bond Purchase Agreement are hereafter referred to as the "Bond Documents." 6. It is hereby found, determined and declared that: (a� the issuance and sale of the Bonds, the execution and delivery by the City of the Bond Documents and the performance of all covenants and agreements of the City contained in the Bond Documents and of all other acts and things required under the constitution and laws of the State of Minnesota to make the Bond Documents and the Bonds valid and binding obligations of the City in accordance with their terms, are authorized by Minnesota Statutes, Sections 469.152 to 469.1651 (the "Act"); (b� it is desirable that the Bonds be issued by the City upon the terms set forth in the Indenture; (�� the basic payments under the Loan Agreement are fixed to produce revenue sufficient to provide for the prompt payment of principal of, premium, if any, and interest on the Bonds issued under the Indenture when due, and the Loan Agreement and Indenture also provide that the Borrower is required to pay all expenses of the operation and maintenance of the Project, including, but without limitation, adequate insurance thereon and insurance against all liability for injury to persons or property arising from the operation thereof, and all taxes and special assessments levied upon or with respect to the Project premises and payable during the term of the Loan Agreement and Indenture; (d� under the provisions of the Act and as provided in the Loan Agreement and Indenture, the Bonds are not to be payable from or charged upon any funds other than the revenue pledged to the payment thereof; the City is not subj ect to any liability thereon; no holder of any Bonds shall ever have the right to compel any exercise by the City of its taxing powers to pay any of the Bonds or the interest or premiums thereon, or to enforce payment thereof against any property of the City except the interests of the City in the Loan Agreement which have been assigned to the Trustee under the Indenture; the Bonds sha11 not constitute a charge, lien, or encumbrance, legal or equitable upon any property of the City except the interests of the City in the Loan Agreement which have been assigned to the Trustee under the Indenture; the Bonds sha11 recite that the Bonds are issued without moral obligation on the part of the state or its political subdivisions, and that the Bonds, including interest thereon, are payable solely from the revenues pledged to the payment thereof; and the Bonds sha11 not constitute a debt of the City within the meaning of any constitutional or statutory limitation. 7. The forms of the Bond Documents and e�ibits thereto are approved in substantially the forms submitted. The Bond Documents, in substantially the forms submitted, are directed to be executed in the name and on behalf of the City by the Mayor and the City Manager. Any other documents and certificates necessary to the transactions described above shall be executed by the appropriate City officers. Copies of all of the documents necessary to the transactions herein described shall be delivered, filed and recorded as provided herein and in the Bond Documents. �