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22 Section 5. The Bonds. 5.01. In anticipation of the receipt of the loan repayments from the Borrower, the City shall proceed forthwith to issue its Bonds in the form and upon the terms set forth in the Indentures or established pursuant to this resolution. 5.02. The Mayor Pro tem and the City Manager are authorized and directed to prepare and execute the Bonds as prescribed herein and in the Indentures and to deliver them to the Trustee, together with a certified copy of this resolution, the other documents required in the Indenture, and such other certificates, documents and instruments as may be appropriate to effect the transactions herein contemplated. The Trustee is hereby appointed authenticating agent for the Bonds pursuant to Minnesota Statutes, Section 475.55, Subdivision 1. Section 6. Housing Program. The Housing Program is hereby approved. Section 7. Application for Bond Issuance Allocation. The Mayor Pro tem and City Manager, in consultation with the Borrower, are authorized to execute the necessary documents on behalf of the City to apply for a further allocation of bonding authority for the Project pursuant to the provisions of Minnesota Statutes, Chapter 474A. Section 8. Absence of Officers. In the absence or disability of the Mayor Pro tem, any of the documents authorized by this resolution to be approved and executed by the Mayor Pro tem may be so approved and executed by the acting Mayor Pro tem. In the absence or disability of the City Manager, any of the documents authorized by this resolution to be approved and executed by the City Manager may be so approved and executed by the person designated as acting City Manager or by such other officer of the City who, in the opinion of the City Attorney, may execute such documents. Section 9. Authentication of Proceedings. The Mayor Pro tem, the City Manager, the City Clerk and other officers of the City are authorized and directed to furnish to the Underwriter and bond counsel 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 and marketability 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 famished, shall constitute representations of the City as to the truth of all statements of fact contained therein. Section 10. Limitations of the City's Obli gations. Notwithstanding anything contained in the Bonds or the Bond Documents, the Bonds shall not constitute a debt of the City within the meaning of any constitutional or statutory limitation, and shall not be payable from nor shall constitute a charge, lien or encumbrance, legal or equitable, upon any funds or any property of the City other than the revenues specifically pledged to the payment thereof pursuant to the Bond Documents, and no holder of the Bonds shall ever have the right to compel any exercise of the taxing power of the City to pay the Bonds or the premium,if any, or interest thereon, or to enforce payment thereof against any property of the City other than those rights and interests of -5-