Resolution No. 99-64A EDAC - Laserfiche WebLink

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2.02. Except as provided in the Installment Purchase Contract, the Bonds shall not constitute or give rise to a charge against the general credit or properties or taxing powers of the Authority or the City and shall not grant to the Owners of the Bonds any right to have the Authority or the City levy any taxes or appropriate any funds for the payment of the principal thereof or interest thereon, nor are the Bonds a general obligation or a pecuniary liability of the Authority or the City or the individual officers or agents thereof. The Bonds shall not constitute an indebtedness of the Authority or the City, within the meaning of any state constitutional provision or statutory limitation. The Bonds and interest thereon are payable solely from the property pledged to their payment pursuant to the Indenture, including Payments to be paid by the City pursuant to the Installment Purchase Contract. 2.03. The Authority staff is authorized and directed to file a certified copy of this resolution with the County Auditor of Anoka County and to obtain the certificate required by Minnesota Statutes, Section 475.63. Section 3. Authentication of Transcript. 3.01. The officers of the Authority are authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records of the Authority relating to the Bonds and to the financial condition and affairs of the Authority, and such other certificates, affidavits and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their custody and under their control, relating to the validity and marketability of the Bonds, and such instruments, including any heretofore furnished, may be deemed representations of the Authority as to the facts stated therein. 3.02. The First Supplemental Indenture is hereby approved. The President and Executive Director are authorized and directed to execute and deliver the First Supplemental Indenture on behalf of the Authority, substantially in the form on file, but with all such changes therein as shall be approved by the officers executing the same, which approval shall be conclusively evidenced by the execution thereof. 3.03. The First Amendment to Installment Purchase Contract is hereby approved. The President and Executive Director are authorized and directed to execute and deliver the First Amendment to Installment Purchase Contract on behalf of the Authority, substantially in the form on file, but with all such changes therein as shall be approved by the officers executing the same, which approval shall be conclusively evidenced by the execution thereof. Copies of all of the transaction documents shall be delivered, filed and recorded as provided therein. The President, the Executive Director and other officers of the Authority are also authorized and directed to execute such other instruments as may be required to give effect to the transactions herein contemplated. 3.04. In the event the President or the Executive Director is unable to execute the Bonds, the First Supplemental Indenture, the First Amendment to Installment Purchase Contract or any other instrument authorized hereby, such instrument may be executed by any other member of the Authority with the same effect as if it were executed by the President or the Executive Director. BMB-167652 LN140-68