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(f) The Assignment (not executed by the Issuer), and <br />(g) The Preliminary Official Statement used by the Purchaser to market the <br />Bonds <br />4. It is hereby found, determined and declared that: <br />(a) it is desirable that the Bonds be issued by the Issuer upon the terms set <br />forth in the Indenture; <br />(b) the basic payments under the Loan Agreement are fixed to produce <br />revenue sufficient to provide for the prompt payment of principal of, premium, if any, <br />and interest on the Bonds issued under the Indenture when due, and the Loan Agreement, <br />Mortgage and Indenture also provide that the Company is required to pay all expenses of <br />the operation and maintenance of the Project, including, but without limitation, adequate <br />insurance thereon and insurance against all liability for injury to persons or property <br />arising from the operation thereof, and all taxes and special assessments levied upon or <br />with respect to the Project Premises and payable during the term of the Loan Agreement <br />and Indenture; and <br />(c) under the provisions of Minnesota Statutes, Section 469.155, and as <br />provided in the Loan Agreement and Indenture, the Bonds are not to be payable from or <br />charged upon any funds other than the revenue pledged to the payment thereof; the Issuer <br />is not subject to any liability thereon; no holder of any Bonds shall ever have the right to <br />compel any exercise by the Issuer of its taxing powers to pay any of the Bonds or the <br />interest or premium thereon, or to enforce payment thereof against any property of the <br />Issuer except the interests of the Issuer in the Loan Agreement which have been assigned <br />to the Trustee under the Indenture; the Bonds shall not constitute a charge, lien or <br />encumbrance, legal or equitable upon any property of the Issuer except the interests of <br />the Issuer in the Loan Agreement which have been assigned to the Trustee under the <br />Indenture; the Bonds shall recite that the Bonds, including interest thereon, are payable <br />solely from the revenues pledged to the payment thereof; and, the Bonds shall not <br />constitute a debt of the Issuer within the meaning of any constitutional or statutory <br />limitation. <br />5. The forms of the Bond Documents and exhibits thereto shall be subject to the <br />review and approval of the City Attorney and are otherwise approved substantially in the form <br />submitted. The Loan Agreement, Indenture and Purchase Agreement are directed to be executed <br />in the name and on behalf of the Issuer by the Mayor and the Clerk -Treasurer. Any other <br />documents and certificates necessary to the transaction described above shall be executed and <br />delivered by the appropriate officers of the Issuer. Copies of all of the documents necessary to <br />the transaction herein described shall be delivered, filed and recorded as provided herein and in <br />the Loan Agreement, Indenture and Purchase Agreement. <br />6. The Issuer has not prepared nor made any independent investigation of the <br />information contained in the Preliminary or final Official Statement used by the Purchaser to sell <br />2 <br />