CC PACKET 07141992 (2) - Laserfiche WebLink

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2.5. The Mayor and the City Manager of the City are authorized and • directed to prepare and execute the Bonds and to deliver them to the Trustee pursuant to the Indenture for authentication and delivery to the purchasers thereof, together with a certified copy of this resolution and other documents required by the Indenture. As provided in the Indenture, the Bonds shall be executed by the manual or facsimile signatures of the Mayor and City Manager and impressed with the seal of the City or a facsimile thereof and shall be authenticated by the Bond Registrar (as defined in the Indenture), as authenticating agent, pursuant to Minnesota Statutes, Section 475.55, Subdivision 1. 2.6. As provided in the Indenture, the Bonds are special, limited obligations of the City. Principal of, premium, if any, and interest on the Bonds are payable solely out of the revenues derived from the sources described in the granting clauses of the Indenture. Neither the State of Minnesota nor the Counties of Ramsey and Hennepin shall in any event be liable for the payment of the principal of, premium, if any, or interest on the Bonds or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever that may be undertaken by the City. Neither the Bonds nor any of the agreements or obligations of the City contained in the City Financing Documents shall be construed to constitute an indebtedness of the State of Minnesota, the Counties of Ramsey or Hennepin or the City, within the meaning of any constitutional or statutory provisions whatsoever, nor to constitute or give rise to a pecuniary liability or be a charge against the general credit or taxing power of the State of Minnesota, the Counties of Ramsey or Hennepin or the City. The agreement of the City to perform the covenants and other provisions contained in this resolution or the Bonds, the City Financing Documents or the Bond Purchase Agreement shall be subject at all times to the availability of the revenues furnished by the Developer sufficient to pay all costs of such enforcement or the enforcement thereof, and the City shall not be subject to any personal or pecuniary liability thereon other than as stated above. 2.7. The Mayor, the City Manager and the City Clerk of the City are authorized and directed to prepare and furnish to bond counsel and the Underwriter certified copies of all proceedings and records of the City relating to the Bonds, and such other affidavits and certificates as may be required to show the facts relating to the legality of the Bonds as such facts appear from the books and records in the officers' custody and control or as otherwise known to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of all statements contained therein. 2.8. The Mayor and the City Manager of the City are hereby authorized to execute such additional agreements, documents and certificates in connection with the Bonds as may be necessary and appropriate in their opinion and in the opinion of the City Attorney and consistent with the Act. Copies of such -4-