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• Section 5. The Bonds. <br /> 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 /> Indentures or established pursuant to this resolution. <br /> 5.02. The Mayor Pro tem and the City Manager are authorized and directed to prepare <br /> and execute the Bonds as prescribed herein and in the Indentures and to deliver them to the <br /> Trustee, together with a certified copy of this resolution, the other documents required in the <br /> Indenture, and such other certificates, documents and instruments as may be appropriate to effect <br /> the transactions herein contemplated. The Trustee is hereby appointed authenticating agent for <br /> the Bonds pursuant to Minnesota Statutes, Section 475.55, Subdivision 1. <br /> Section 6. Housing Program. The Housing Program is hereby approved. <br /> Section 7. Application for Bond Issuance Allocation. The Mayor Pro tem and City <br /> Manager, in consultation with the Borrower, are authorized to execute the necessary documents <br /> on behalf of the City to apply for a further allocation of bonding authority for the Project <br /> pursuant to the provisions of Minnesota Statutes, Chapter 474A. <br /> Section 8. Absence of Officers. In the absence or disability of the Mayor Pro tem, any of <br /> the documents authorized by this resolution to be approved and executed by the Mayor Pro tem <br /> may be so approved and executed by the acting Mayor Pro tem. In the absence or disability of <br /> ® the City Manager, any of the documents authorized by this resolution to be approved and <br /> executed by the City Manager may be so approved and executed by the person designated as <br /> acting City Manager or by such other officer of the City who, in the opinion of the City Attorney, <br /> may execute such documents. <br /> Section 9. Authentication of Proceedings. The Mayor Pro tem, the City Manager, the <br /> City Clerk and other officers of the City are authorized and directed to furnish to the Underwriter <br /> and bond counsel certified copies of all proceedings and records of the City relating to the <br /> Bonds, and such other affidavits and certificates as may be required to show the facts relating to <br /> the legality and marketability of the Bonds as such facts appear from the books and records in <br /> the officers' custody and control or as otherwise known to them; and all such certified copies, <br /> certificates and affidavits, including any heretofore furnished, shall constitute representations of <br /> the City as to the truth of all statements of fact contained therein. <br /> Section 10. Limitations of the City's Obligations. Notwithstanding anything contained <br /> in 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 /> • -5- <br />