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• time to time as necessary, so as to produce income and <br /> revenue sufficient to provide for prompt payment of <br /> principal of and interest on all Bonds issued under the <br /> Indenture when due; and the Loan Agreement .also provides <br /> that the Partnership is required to pay all expenses of the <br /> operation and maintenance of the Project , including, but <br /> without limitation, adequate insurance thereon and <br /> insurance against all liability for injury to persons or <br /> property arising from the operation thereof, and all taxes <br /> and special assessments levied upon or with respect to the <br /> Project- and payable during the term of the Loan Agreement; <br /> and <br /> (e) the execution and delivery of the Loan Agreement , <br /> the Bond Purchase Agreement and the Indenture will not <br /> conflict with, or constitute on the part of the City a <br /> breach of or a default under, any existing agreement, <br /> indenture, mortgage, lease or other instrument to which the <br /> City is subject or is a party or by which it is bound; <br /> provided that this finding is made solely for the purpose <br /> of estopping the City from denying the validity of the Loan <br /> Agreement, the Bond Purchase Agreement and the Indenture, <br /> by reason of the existence of any facts contrary to this <br /> finding; <br /> • (f) no litigation is pending or, to the best <br /> knowledge of the members of this Council , threatened <br /> against- the City questioning the organization or boundaries <br /> of the City or the right of any officer of the City to hold <br /> his or her office, or in any manner questioning the right <br /> and power of the City to execute and deliver the Bonds, or <br /> otherwise questioning the validity of the Bonds or the <br /> execution, delivery or validity of the Loan Agreement, the <br /> Bond Purchase Agreement and the Indenture, or questioning <br /> the appropriation of revenues to payment of the Bonds or <br /> the right of the City to loan the proceeds of the Bonds to <br /> the Partnership to refund the Prior Bonds and provide for <br /> the financing of the Project; <br /> (g) all acts and things required under the <br /> Constitution and the laws of the State of Minnesota to make <br /> the Loan Agreement, the Bond Purchase Agreement and the <br /> Indenture, the valid and binding obligations of the City in <br /> accordance with their terms will have been done upon <br /> adoption of this Resolution and execution of the Loan <br /> Agreement, the Bond Purchase Agreement and the Indenture; <br /> (h) the City is duly organized and existing under the <br /> Constitution and laws of the State of Minnesota and is <br /> authorized to issue the Bonds in accordance with the Act; <br /> • and <br /> -4- <br />