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NOW THEREFORE, in consideration of the mutual undertakings and covenants set forth <br />• below and other good and valuable consideration, the Municipalities hereby represent and agree <br />as follows: <br />8. The Municipalities hereby agree to jointly finance acquisition the Project. Falcon <br />Heights is hereby designated as the issuer of any Bonds to be issued pursuant to this Agreement. <br />9. Each Municipality represents to the other parties hereto that it has (i) held a public <br />hearing with respect to the Project and (ii) has adopted a resolution authorizing execution, <br />delivery and performance of this Agreement. <br />10. Falcon Heights shall exercise the powers of the Act by adopting, approving and <br />executing such resolutions, documents, and agreements as shall be necessary or convenient to <br />authorize, issue, and sell the Bonds and such other resolutions, documents, and agreements as <br />shall be necessary or required in connection with the issuance of the Bonds and giving effect to <br />or carrying out the provisions of this Agreement and documents under which the Bonds are <br />issued and/or secured. <br />11. Any Bonds to be issued pursuant to this Agreement shall be special, limited <br />obligations of Falcon Heights, payable solely from proceeds, revenues and other amounts <br />specifically pledged thereto. In no event shall the Bonds ever be payable from or charged upon <br />the general credit, taxing powers or any funds of any of the Municipalities; the Municipalities are <br />not subject to any liability thereon; no owners of the Bonds shall ever have the right to compel <br />the exercise of the taxing power of any of the Municipalities to pay any of the Bonds or the <br />interest thereon, nor to enforce payment thereof against any property of any of the <br />Municipalities; the Bonds shall not constitute a charge, lien or encumbrance, legal or equitable, <br />upon any property of any of the Municipalities; and the Bonds do not constitute an indebtedness <br />of any of the Municipalities within the meaning of any constitutional, statutory, or charter <br />limitation. <br />12. This Agreement shall terminate upon the retirement or defeasance of the last <br />outstanding Bonds and this Agreement may not be terminated in advance of such retirement or <br />defeasance. <br />13. This Agreement may be executed in counterparts, each of which shall be an <br />original, but such counterparts shall together constitute but one and the same instrument. <br />[Remainder of page intentionally left blank; signature pages follow] <br />/S <br />