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which the City is a party or by which it or any of its property is bound, or be in conflict with, <br />result in a breach of, or constitute (with due notice or lapse of time or both) a default under <br />any such indenture, agreement or other instrument. <br /> <br /> (c) <br />Indenture. <br /> <br />If and when issued, the Bonds shall conform to the terms set forth in the <br /> <br /> (d) Under the provisions of the Act, and as provided in the Loan Agreement and <br />Indenture, the Bonds do not and shall not constitute an indebtedness, a pecuniary liability, <br />a moral or general obligation or a loan of the credit of the City and the Bonds are not secured <br />by, and are not a charge, lien or encumbrance, legal or equitable, against the City's property, <br />funds, general credit or taxing powers. <br /> <br /> 4. Approval and Execution of Documents. The forms of the Housing Program and the <br />Loan Agreement, Indenture, Bond Purchase Agreement and Assignment are approved. The Loan <br />Agreement, Indenture, Assignment and Bond Purchase Agreement are authorized to be executed in <br />the name and on behalf of the City by the Mayor and the City Administrator, in their discretion at <br />such time (if any) as they may deem appropriate, in substantially the forms on file, but with all such <br />changes therein as may be approved by the officers executing the same, which approval shall be <br />conclusively evidenced by the execution thereof. <br /> <br /> 5. Approval, Execution and Delivery of Bonds. Upon the execution of the documents <br />described in paragraph 4 above, the City shall issue the Bonds in an aggregate principa.1 amount of <br />not to exceed $3,500,000 in the form and upon the terms set forth in the Indenture, which terms are <br />for this purpose incorporated in this resolution and made a part hereof; provided, however, that the <br />initial aggregate principal amount of and the maturities of the Bonds, the interest rates thereon, and <br />any provisions for the optional or mandatory redemption thereof shall all be as set forth in the final <br />form of the Indenture; and provided further that, in no event, shall such maturities exceed 30 years <br />or such rates of interest exceed 8.00% per annum. The Underwriter has agreed pursuant to the <br />provisions of the Bond Purchase Agreement, and subject to the conditions therein set forth, to <br />purchase the Bonds at the purchase price set forth in the Bond Purchase Agreement, and said <br />purchase price is hereby accepted. <br /> <br /> 6. Official Statement. As requested by the Underwriter, the City consents to the <br />Underwriter's distribution of the Official Statement; provided that the City has not been requested <br />to participate in the preparation of or to review the Official Statement and the City has not done so <br />and will not do so and that the City has made no independent investigation of the facts and <br />statements provided therein, and the City assumes no liability with respect thereto, including without <br />limitation matters relating to the accuracy, fairness, completeness, or sufficiency of the Official <br />Statement. <br /> <br /> 7. Bank Qualified Bonds. The City hereby designates the Bonds as a "qualified <br />tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code and further represents <br />that: <br /> <br />1147465.2 3 <br /> <br /> <br />