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• refinance the Property and pay costs of issuance of the Bonds, and to pledge and assign the <br /> Financing Agreement and the loan repayments due thereunder, all as provided in the Financing <br /> Agreement and the Indenture. It is acknowledged that the purchase price of the Bonds, the <br /> principal amount of the Bonds, the initial reoffering prices of the Bonds, the maturity schedule of <br /> the Bonds, the provisions for redemption of the Bonds and the initial interest rate on the Bonds <br /> have not been determined as of the date of adoption of this resolution and are not reflected in the <br /> Indenture, the Financing Agreement or the Bond Purchase Agreement. The Mayor and the City <br /> Manager are hereby authorized to approve: (1)the purchase price of the Bonds; (2) the principal <br /> amount of the Bonds (as hereinafter defined); provided that the aggregate principal amount of the <br /> Bonds is not in excess of$7,775,000; (3) the initial reoffering prices of the Bonds; (4)the <br /> maturity schedule of the Bonds; provided that the Bonds mature at any time or times in such <br /> amount or amounts no later than thirty years from the date of issuance thereof; (5) the provisions <br /> for redemption of the Bonds; and (6) the initial interest rate on the Bonds. The approval of such <br /> officers of the terms of the Bonds shall be conclusively presumed by the execution of the Bond <br /> Purchase Agreement by said officers. <br /> The forms of the Bond Documents and the Bonds referred to in Section 1.04 are <br /> approved, subject to such modifications as are deemed appropriate and approved by the Mayor <br /> and City Manager, within the limitations provided in the immediately preceding paragraph, <br /> which approval shall be conclusively evidenced by execution of the Bond Documents by the <br /> Mayor and the City Manager. The Bond Purchase Agreement as so approved is directed to be <br /> executed forthwith in the name and on behalf of the City by the Mayor and the City Manager <br /> • following the execution thereof by the Borrower and the Underwriter. The Financing Agreement <br /> and the First Amendment as so approved are directed to be executed in the name and on behalf <br /> of the City by the Mayor and City Manager upon execution thereof by the Borrower. The <br /> Indenture as so approved is directed to be executed in the name and on behalf of the City by the <br /> Mayor and the City Manager and delivered to the Trustee. Copies of all the documents shall be <br /> delivered, filed or recorded as provided therein. The Mayor, the City Manager and the City <br /> Clerk are also authorized and directed to execute such other instruments as may be required to <br /> give effect to the transactions herein contemplated. <br /> Section 4. Offering Circular. The City hereby consents to the use of the Offering <br /> Circular by the Underwriter in connection with the offer and sale of the Bonds to potential <br /> investors. The City has consented to the distribution of the Offering Circular, but did not prepare <br /> the Offering Circular, and has not reviewed the financial disclosures of the Borrower or <br /> approved any information or statements contained in the Offering Circular or the Appendices <br /> thereto and assumes no responsibility for the sufficiency, completeness or accuracy of the same. <br /> The City Manager is authorized to deem the Offering Circular"final" as of its date for purposes <br /> of SEC Rule 15c2-12. <br /> Section 5. The Bonds. <br /> • -3- <br />