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RESOLUTION NO. 1847 <br />PAGE FIVE <br />15. The City reserves the right to deny any application <br />for any reason and to revoke approval of an <br />application at any time before actual issuance of <br />bonds or a loan without liability of the City, its <br />councilmembers, officers, or agents to the applicant, <br />the underwriter, attorneys, or other counsel <br />associated with the project. The City's posiion is <br />that no applicant has a right to have the City <br />finance any such project and in submitting such an <br />application, the applicant recognizes and accepts <br />that policy decision whether or not these guidelines <br />are followed in other respects. <br />16. The City reserves the right to discontinue the <br />financing at any time prior to actual issuance of the <br />bonds or note(s) without any stated reason or <br />justification to the applicant, in which event the <br />applicant shall have no right to recover any alleged <br />or actual damages from the City and no right to <br />require the City to complete the financing. <br />17. The applicant shall have no right to assign any <br />asserted "right or privilege" under any preliminary <br />action by the City, its council or administrative <br />staff to any other person or firm. All applications <br />will name the real parties in interest in the project <br />including the principal stockholders, if a <br />corporation. <br />Adopted this day of <br />ATTEST: <br />Mayor <br />(SEAL) <br />Clerk -Administrator <br />u <br />