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5.01. In anticipation of the receipt of the loan repayments from the Borrower, the City <br /> shall proceed forthwith to issue its Bonds in the form and upon the terms set forth in the <br /> Indenture or established pursuant to this resolution. <br /> 5.02. The Mayor and the City Manager are authorized and directed to prepare and <br /> execute the Bonds as prescribed herein and in the Indenture and to deliver them to the Trustee, <br /> together with a certified copy of this resolution, the other documents required in the Indenture, <br /> and such other certificates,documents and instruments as may be appropriate to effect the <br /> transactions herein contemplated. The Trustee is hereby appointed authenticating agent for the <br /> Bonds pursuant to Minnesota Statutes, Section 475.55, Subdivision 1. <br /> Section 6. Absence of Officers. In the absence or disability of the Mayor, any of the <br /> documents authorized by this resolution to be approved and executed by the Mayor may be so <br /> approved and executed by the acting Mayor. In the absence or disability of the City Manager, <br /> any of the documents authorized by this resolution to be approved and executed by the City <br /> Manager may be so approved and executed by the person designated as acting City Manager or <br /> by such other officer of the City who, in the opinion of the City Attorney, may execute such <br /> documents. <br /> Section 7. Authentication of Proceedings. The Mayor, the City Manager, the City Clerk <br /> and other officers of the City are authorized and directed to furnish to the Underwriter and bond <br /> counsel certified copies of all proceedings and records of the City relating to the Bonds, and such <br /> other affidavits and certificates as may be required to show the facts relating to the legality and <br /> • marketability of the Bonds as such facts appear from the books and records in the officers' <br /> custody and control or as otherwise known to them; and all such certified copies, certificates and <br /> affidavits, including any heretofore furnished, shall constitute representations of the City as to <br /> the truth of all statements of fact contained therein. <br /> Section 8. Limitations of the City's Obligations. Notwithstanding anything contained in <br /> the Bonds or the Bond Documents, the Bonds shall not constitute a debt of the City within the <br /> meaning of any constitutional or statutory limitation, and shall not be payable from nor shall <br /> constitute a charge, lien or encumbrance, legal or equitable, upon any funds or any property of <br /> the City other than the revenues specifically pledged to the payment thereof pursuant to the Bond <br /> Documents, and no holder of the Bonds shall ever have the right to compel any exercise of the <br /> taxing power of the City to pay the Bonds or the premium, if any, or interest thereon, or to <br /> enforce payment thereof against any property of the City other than those rights and interests of <br /> the City which have been pledged to the payment thereof pursuant to the Bond Documents. The <br /> agreement of the City to perform the covenants and other provisions contained in this resolution <br /> or the Bonds or the Bond Documents shall be subject at all times to the availability of the <br /> revenues furnished by the Borrower sufficient to pay all costs of such performance or the <br /> enforcement thereof, and the City shall not be subject to any personal or pecuniary liability <br /> thereon. <br /> Passed this 14th day of May, 2002. <br /> • -4- <br />