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thereto as may be necessary and appropriate and approved by the officers of the City <br /> authorized herein to execute the Joint Powers Agreement, such approval to be conclusively <br /> evidenced by the execution thereof. <br /> 2. In no event shall the Bonds ever be payable from or charged upon any funds of the City;the <br /> City is not subject to any liability thereon;no owners of the Bonds shall ever have the right <br /> to compel the exercise of the taxing power of the City to pay any of the Bonds or the <br /> interest thereon,nor to enforce payment thereof against any property of the City;the Bonds <br /> shall not constitute a charge,lien or encumbrance,legal or equitable,upon any property of <br /> the City;and the Bonds do not constitute an indebtedness of the City within the meaning of <br /> any constitutional, statutory, or charter limitation. <br /> Adopted by the City Council of the City of Elk River,Minnesota this 15`h day of July, 2013. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> City Administrator <br /> p U W I R I U R Y <br /> NATURE] <br /> 2 <br />